Wednesday, March 19, 2008

Bookkeeping: Selling Down 3 Names into Strength

Posted by TraderMark at 10:42 AM TweetThis
I am selling $5K stakes in 3 names: homebuilder DR Horton (DHI), Mastercard (MA) on the Visa (V) excitement, and drug company Schering-Plough (SGP).

I find it ironic that the same TV pundit who told us about a month ago to not own Mastercard because the Visa IPO will suck all the wind out of the sector was on the tube yesterday saying buy Mastercard. Near a 52 week high of course. He shall remain nameless.

I am watching S&P 1320 level. It will be important to hold this for this rally to 1360 to continue. For now I am raising some cash and hoping the market takes down some of my favorite global growth names down to lower levels so I can add at better price points, while they chase the "new leadership" stocks...

Long all names but Visa in fund; long none in personal account

Posted by TraderMark at 10:42 AM

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