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Market Shadows: Group of writers and investors: Paul Price, Lee Adler, and Ilene.
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  • DARK HORSE HEDGE - Jumping off HUSA 8 comments
    Aug 13, 2010 12:46 PM | about stocks: HUSA
    DARK HORSE HEDGE - Jumping off HUSA

    By Scott at Sabrient and Ilene at Phil’s Stock World

    BUY to COVER HUSA at the Market Wednesday, August 13, 2010

    HUSA has provided us a nice 12% return since the July 1, 2010 SHORT position was taken.  We recommended the SHORT based on our belief that the company was significantly overvalued based on the company's confirmed assets and earnings potential. HUSA will announce its quarterly earnings report sometime today and while we don’t expect any surprises it is prudent to take the profit at this point and keep HUSA on our watch list.  We will recommend a short replacement for HUSA later today or over the weekend to keep our virtual portfolio in a BALANCED Long/Short tilt. 

    Take note that the S&P 500 had a MACD 12-26-9 rollover this week, confirmed by the RSI 14 day moving back below 50 and the index is trading well below the 200 day MA. In the last 2 days, it has also crossed the 50 day MA.  We will look for further confirmation of the weakness before altering our BALANCED portfolio to a SHORT tilt.  (Similarly, we did not act when our technical indicators suggested an uptrend might be developing. This market has displayed too much whipsawing motion for us to be comfortable jumping into a developing trend wholeheartedly.)

    Chart courtesy of FreeStockCharts.com.

    Archives for the Dark Horse Hedge here.

    Stocks: HUSA
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This post has 8 comments:

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  •  
    Nice call on jumping off HUSA. Thanks Ilene. Looks like there will be chances to get back on soon. Let us know.
    16 Aug 2010, 03:57 PM Reply Like
  •  
    Thanks! We are looking to go back SHORT on HUSA very soon actually.
    17 Aug 2010, 01:55 PM Reply Like
  •  
    What is up with this HUSA? Read the 10Q and can't believe the valuation on this stock. $300 million for a few knuckleheads who have a track record of bankrupt companies and now pay themselves huge bonuses when they squeeze out a nickle profit. Maybe Cramer will pump this dump.
    16 Aug 2010, 09:23 PM Reply Like
  •  
    Let me know if he does, good time short into it probably.
    17 Aug 2010, 01:56 PM Reply Like
  •  
    Don't wait on Cramer dude. SEC needs to crack some skulls on these guys. It is all monkey business. Short HUSA all day long.
    17 Aug 2010, 07:55 PM Reply Like
  •  
    didn't wait, shorted it in our virtual DHH portfolio today
    18 Aug 2010, 06:56 PM Reply Like
  •  
    Cramer actually was asked about HUSA back in April and he said it was basically too flaky and suggested Anadarko if memory serves right. His comment as I recall was about the ability of a blog to bring the stock down. I don't think the blog had anything to do with it. Stock and company is simply crap.
    18 Aug 2010, 03:13 PM Reply Like
  •  
    too flaky for Cramer, that's probably good
    18 Aug 2010, 06:56 PM Reply Like
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