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Tuesday, June 16, 2009

A-Power Energy Generation Systems APWR Ugly as Missed Earnings

APWR reported earnings this morning and missed by 8 cents a share. I was long this but after the report, I am debating selling. I thought they'd have another blowout quarter, but the stock market makes fools of all of us sometimes. I purchased back my covered calls for $5 a contract, of which I wrote less than 2 weeks ago for $250 a contract. I have a stop loss in and am hoping for an oversold bounce in the coming week, as I'd like to write it back out in the money for the July expiration.

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