Bookkeeping: Limit Purchase Order for Fuel Systems Solutions (FSYS) Hits

Wow, one of my long term limit buy orders finally hit out of the blue... unfortunately it reports earnings next week so we'll have to keep a close eye on it.  The name is Fuel Systems Solutions (FSYS) - this was a big winner for us in 1st half 2008.  Basically natural gas engines, much of the production in Italy.

Fuel Systems Solutions, Inc. engages in the design, manufacture, and supply of alternative fuel components and systems for use in the transportation, industrial, and power generation industries.

Looking at the chart, it's a complete mess after today's action - my limit buy was $31.20 and we are now the proud owner of a descending stock, with a gap calling it at $28... a week ahead of earnings.  Yikes.  I better go check what other limit buy orders have been sitting in limbo for weeks on end.  It's only about a 0.7% stake so just a starter position; I would not be surprised to see us visiting $28 in this name. Obviously with a  good earnings report, any pullback to that level would be a place to put a much larger order - easily escaped if the stock breaks down from there.  For now, this is certainly not a name to be owned for technical reasons, but we'll see what happens with it in the next 7-10 days.  Size wise it won't kill us.

[Jul 2, 2008: Bookkeeping: Buying Fuel Systems Solutions for the 3rd Piece of my Alternative Energy Basket]

Long Fuel Systems Solutions in fund; no personal position