Bookkeeping: Taking some Mosiac (MOS) Profits

Booking some nice trades of late; the volatility is working to our advantage and moves are lasting more than 4 hours. What used to take 4-5 weeks to play out in the old casino, now takes 48 hours to play out in the new casino. So we're not going to argue with it, and we'll take advantage when we can.

Last Wednesday we thanked Obama for saving the globe and making every global growth stock scream higher - we took profits on Mosaic in the $34s. We said if the stock continued up we still had some left to sell near $40, otherwise we'll use a pullback to buy more. Friday we reversed the trade and got back our exposure (and more) just under $30; saving about 14% in value.

Today, the stock is back in the $35s, up 16% from where we bought Friday - so every 48 hours we are getting huge reversals. So I'm going to repeat the trade from last Wednesday although I'm keeping more in the portfolio this time around - we are taking Mosaic down from a 3.2% stake to 1.7% with sales @ $35.

Since my thesis is stocks are run up into Dec 31st by hedge funds (plus Obamatism - thats optimism sprinkled in with Obama) I don't want to make drastic cuts just yet as I want to remain "long" biased for now. We'll still look to (just under) $40 for the next layer out.

Long Mosaic in fund; no personal position