Fuel Systems Solutions (FSYS) Rockets Over 20% on Huge Earnings Beat

By Trader Mark
05 November 2009 @ 10:00 am EDT

While happy to own Fuel Systems Solutions (FSYS) we took profits on this name after a long standing limit order hit [Oct 28: 2008: Bookkeeping - Limit Order Hit for Fuel Systems Solutions], and we experienced a spike in price the very next session [Oct 29, 2009: Bookkeeping - Selling Most Fuel Systems Solutions on Spike]  , and are just sitting with a tiny 0.1% exposure.  So correct assessment of a company, bad timing in terms of lacking exposure - we normally cut back ahead of earnings either way, but since the stock had broken below its 50 day moving average we were at our lowest possible exposure.  Obviously technical analysis is moot around important news events.  As I type the stock is up 23%...

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