Two big gainers in the fund today: Blue Coat Systems (BCSI) and Aluminum Corp China (ACH)

I sold down 2 positions in the fund today that had large leaps post earnings report.

First, is Blue Coat Systems (BCSI) which the fund only had a very minor position in. The stock has been a rock the past few weeks, never breaking its 50 day moving average. I was hoping for a more serious pullback to add to the position but never had a chance. Earnings were tremendous with 70%+ year over year revenue growth, upside guidance on EPS, etc. BCSI is increasingly serving the WAN market which is the playground of Riverbed Technology, one of the fund's larger holdings (which is also up in sympathy). Again, I missed this stock since the fund only had a 50 share position bought around $55 last week; sold 1/2 today at a few pennies below $70. If (big if) the stock sees a sizable pullback, I would like to add back in with more scale.

Per Briefing.com:
7:05AM Blue Coat beats by $0.08; issues upside Q2 guidance 59.85 : Reports Q1 (Jul) earnings of $0.43 per share, excluding non-recurring items, $0.08 better than the Reuters Estimates consensus of $0.35; revenues rose 71.4% year/year to $62.4 mln vs the $58.8 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.43-0.50, ex-items, which translates to $0.21-0.25 per share reflecting the effect of the upcoming stock split, vs. $0.37 consensus; sees Q2 revs of $67-70 mln vs. $61.65 mln consensus. CEO says, "We attribute delivery of this quarterly record net revenue to our increasing success in the WAN Application Delivery market. Clearly our customers see the value in our unique ability to provide security and high speed application delivery in one appliance, our ProxySG(R) product."

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Second, Aluminum Corp of China (ACH) - a stock the fund had a 500 share position in. The company had decent earnings, but I guess in the game that is the stock market, while not stellar results, they beat the analysts estimates. This stock was more of a trading position since it had pulled back from $50 to mid $30s at its lowest in the past few weeks, but spent a lot of time in the upper $30s/low $40s. So a 20% haircut. I took advantage to buy shares in the low $40s ($41.12 to $42.99 range in 3 lots) and built up a 500 share position or roughly $21K. I let go of 300 of those shares today on the huge gap up in the stock price between $47.62 - $48.07. This is roughly a 14% gain in a week's work so I won't complain. I will retain a 200 share position now, and see if the stock drops back down to $42-$43 range.

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