Wednesday, April 04, 2012

New short trade APR: LSE

I've entered a new short trade on APR Energy this morning. (APR:LSE).  This is another stock which came up in my "overvalued" scan.

It suffered a massive gap down eleven days ago and has since recovered to the 50% retracement level but has now backed off from that.

I've gone short with my stop above the 50% retracement level.   My only concern is that at some point that gap should be filled....but it is a massive gap and sometimes gaps of this size can take years to fill.

We shall see.

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