Bookkeeping: Closing Millicom International Cellular (MICC)

I am continuing to look for underperforming names in the portfolio to keep reducing the # of names. Millicom International Cellular (MICC) is a "2nd/3rd world" cellular company, whose fundamentals and exposure I really like, but the stock has not participated at all in this rally. With earnings a few weeks from now that makes me suspicious. Technically the stock is trading below both moving averages - very similar to Google (GOOG) in fact which I sold in a similar technical condition [Apr 3: Closing Google Position]

Both these names share a situation where I don't like how the action is developing in a strong move up by the market (generally not participating) so I don't have confidence to expand upon very small positions; so I'd rather just cut out the name and revisit later. As always, this in no way, shape, or form does not mean the stock cannot go up, or is about ready to make a major move. I just don't anticipate it at this moment.

I only have a 0.3% fund weighting remaining so I am going to exit from now and then re-assess when the technical condition improves. I began this position in November 07 [Nov 7: Starting a Position in Millicom Cellular], and am exiting roughly flat.

No positions