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AFLAC (AFL) – Scalping the Duck

January 23, 2009 2:45 pm

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1/23/09
That was a nice (and quick) profit!

We entered AFLAC (AFL) with that in mind and “scalped” $2.13 for a 9.3% profit this morning. We have been watching an interesting phenomena with stocks getting crushed, moving through all the programmed trading stops and then charging back in a day with a huge upswing. We positioned ourselves this morning to watch for a move as if this would occur, it would be fast.

afl2

As there was news coming out about their “terrific” cash position and sturdy balance sheets, shares started to jump. We got on board quickly and once the shares appeared to be moving towards overbought, we added a trailing stop.
Profit – $ 2.13 ( 9%)


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Written by Andrew Horowitz · Category(s) Long Ideas, Stocks    |  Tags:   

3 Responses to “AFLAC (AFL) – Scalping the Duck”

  1. Rod Hardener on January 23rd, 2009 8:02 pm

    This name has been an easy structural short since July, having violated the 200-day MA by both its 30- and 5-day MAs as well as recent support at 30. MACD prefaced the current down move earlier this month. Company saying it doesn't need additional capital going forward. I think I have seen this movie before, in several sequels.

  2. Andrew Horowitz on January 24th, 2009 12:59 am

    –

    Agreed

    Andrew

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