I also cut back iShares Hong Kong (EWH) to a very minor position of just 0.2% of fund, selling 300 of my remaining 400 shares. This way it stays on my radar although in theory I should just boot it out of the fund since it is so small, but I have a tendency to lose track of ETFs if they are not in my portfolio, so I am keeping this little piece. I bought most of this position around $18 in late August, and am now exiting around $21, only a 17% gain but the Hang Sang has rocketed up to 50% since August lows and I am wary of a pullback in emerging markets.
I took some of these proceeds and bought even more Core Laboratories (CLB) as the stock has now retreated to its 50 day moving average after being strong as an ox for the past 7 weeks. The energy stocks continue to be trashed, and I continue to buy those of the least cyclical nature.
With the expulsion of Broadcom, the fund is back down to 56 positions (53 long) and obviously EWH is a very minor position at that. The market still looks week though (even fertilizer stocks are down!) and the lack of bounce is a bit worrisome. However to make new buys I need to now sell other positions, since all free cash has been applied.
Long iShares Hong Kong, Core Laboratories in fund; no personal positions
