Bookkeeping: Closing the last of Aluminum Corp of China (ACH)

I am closing out the fund's position in Aluminum Corp of China (ACH) for multiple reasons. First, it is not my favorite name if I am going to play China - since adding it to the fund on August 14th, a few other Chinese stocks have gained a lot more favor in my eyes so when I increase exposure to this part of the world I'd rather be emphasizing those names. Second, earnings growth and pricing is not so visible in this company as in others. Third, the stock has had a nice run the past two weeks rallying from $50 to $60 and now is approaching some potential resistance as it climbs to near its 50 day moving average of upper $61s. Last, in a potentially slower growth China, the mood towards a metal/industrial stock could be negative.

As stated above, I started this position in mid August, and it was down to a 0.9% position as of the past month - just not enough conviction to hold this when there are so many other names with easier roadmaps. Overall I booked about a 11% gain in the name, but it has been a volatile name to say the least, rising to mid $80s (excluding 1 day when it spiked higher) and promptly falling to $50. I did manage to sell some of the position in the upper $60s to upper $80s. So I will take this opportunity to exit the last.

Sold 150 shares of Aluminum Corp of China (ACH), raising $8700.

As I stated earlier this week, I plan to be quite heavy into cash going into the Fed meeting - I don't like bipolar events where the market could be up or down 3-5% simply because of a few words said by 1 man.

No position