Bookkeeping: Closing NII Holdings

I've added a few new positions today, and since I want to limit my long positions to around 55, I am looking at names to close out of the portfolio. I've decided to send South American business cell phone company NII Holdings (NIHD) packing. This is another name I've held since August 6th, 2007 (I believe the 3rd I've sold this week), so a stock I've had for quite a while. I am perplexed at how the market has treated this name, as it has solid growth, a good valuation yet is trading as if the South America market is saturated. Whatever the reason I am going to cut my losses here, watch it from afar and see if it can regain its footing in the future.

As outlined in mid December, this has been one of my top 3 losers in the fund [Top 10 Winners and Losers Thus Far]. Since that time it's 'improved' from a $8.6K loss to $8.0 loss as the stock has bounced from $42 to $48 the past month. I only hold 150 shares and a smallish 0.6% type of position, so I am letting these last shares go. Technically, this is a chart only a mother could love, and the stock is somewhat comatose. One good earnings report could change this situation but at this point I am going to have to see some performance before returning this name to the fund. I am not really worried about a lot more losses in the name, but it's simply dead money at this time and I don't have a large enough position (or confidence in the company) to make the position larger, as I have been doing with some of my other "losers".

No position