Bookkeeping: Cutting Research in Motion (RIMM) by half, Google (GOOG) by a quarter

Just took off half my Research in Motion (RIMM) position, 125 shares of the 250. I was able to buy these around $100 so around $111 I am exiting to lock in the quick gain, and raise some cash.

Google (GOOG) same idea, selling 8 of 30 shares as it bounced up today into the mid $650s (position bought in mid $610s)

Most of the teflon stocks bounced from their 50 day moving average up to their 20 days and are starting to retreat. Too early to tell if its a full retreat or just a head fake, but I have some quick gains in these names, and if they retreat all the way back to their 50 day moving average I can rebuy these positions there. Unfortunately, this is just about the only way to make any money on the long side of late - holding positions is not doing any good. Essentially it feels like treading water and churning, just to limit losses. Not a fun environment.

So until that changes I'll try to buy the strongest when they pull back, and sell part of the positions when they spike. Eventually they will either crater through their support levels or push past any resistance and continue an upward move. Until that point though, this is the status quo. The major negative is these stocks continue to make lower highs on each rebound, so this does not portend a lot of good vibes. Until that changes its extreme caution time.

Long Research in Motion, Google in fund; no personal positions