Very good strength from this infrastructure name today, so I am going to take a bit off the top - not much because the chart is shaping up so well, but with
Jacobs Engineering (JEC) reporting ahead of the bell tomorrow and a quite large stake I am going to reduce some risk with a share sell here in the low $89s. This reduces the stake from 3.3% to 2.8% of the fund. Still quite a large position walking into a potential trap that every earnings report brings... but I continue to marvel that this stock is trading right about where it was 2-3 quarters ago.
Today has been an excellent day; always like days where you can outperform the market with only 60% of your portfolio long, and 1/3 safely tucked in cash. Many of our top holdings continue to run...I continue to believe we have a ton of extended charts prone for pullback but I'm sitting with large cash stake, and letting the remaining longs run however long this can go...
Long Jacobs Engineering in fund and personal account
