Captaris (CAPA)

Company. Captaris is "a leading provider of business information delivery solutions that integrate, process and automate the flow of messages, data and documents. Captaris produces a suite of proven products and services, in partnership with leading enterprise software companies, delivered through a global distribution network." (company website)

I must say that it was a whole lot more fun to write these pages last year when I was making profits regularly.

Buy. I bought Captaris in mid-January after a nice-runup to $6. It held promise of being a winner: the trend was upward (green +DI line) and the trend was strengthening (rising black ADX line).

As my momma used to say, "Don't count your chickens before they hatch." Two weeks later the bottom fell out of CAPA, dropping almost 10% in a single day (28-Jan), followed by yet another down-day.

Two days later CAPA recovered somewhat, and I thought I had escaped ruin. Then bam! it fell right back down again. But the very next day it bounced back up to my buy price, and I breathed a sigh of relief and was comforted as the price rose to $6.50 in a few days. It has been trending downward ever since.

Sell. I held on far too long. With the price as erratic as it was, it seemed entirely plausible that it could make another dramatic jump upward. After Friday's session, MarketEdge downgraded CAPA to "avoid" and indicated it was even a short candidate.

This morning, I put in my sell order.