Nothing new to add here, I am cutting
Flowserve (FLS) as it bumps against the 50 day moving average; it is actually holding up quite well the past few days so perhaps its trying to signal it is ready to escape the clutches of the "global growth is dead" trade. But I
shoot first and ask questions later for now. Same thinking
as the Jacobs Engineering Group (JEC) sale last week - great company, good sector, chart that appears to be breaking down but we have a nice lift into resistance. I will assume all such lifts
fail until proven otherwise.
Selling in the low $128s to take this to a
0.3% stake. I *really* like this name but don't want to fight the tide.
Our conservative hedged bent works wonders on days like this when the market is down significantly - we are flat for the day despite a few badly beaten stocks. The problem is finding things to go "up" when the market is bouncing in this current environment - still working on that angle.
Long both names mentioned in fund; long none in personal account
