As things continue to seize up across the credit spectrum, I think even the best of breed might take some hits.... or at least the perception will be that they are. Blackrock (BLK) has been a .... well, rock - considering the hell in the financial space the past 6-7 months. But with some of the recent news in credit markets, their teflon status "could" be hurt. I still remain bullish on this quality franchise with top notch management over the long run, but for now I am going to sell 30 of my 45 shares as the stock is up today (talk about a champ), and if we are entering a situation similar to early January, I'd like to sell when I can, not when I am forced to. The 200 day moving average is down at $180 so that seems a likely area of retrace. I am selling 30 shares here in the $194s - Blackrock drops from a 0.9% exposure to 0.3%. This is still far and away my favorite asset manager and I believe will emerge from this financial morass in far better shape than their peers. That said, they are living in the worst neighborhood in town.
Long Blackrock in fund; no personal position
