Bookkeeping: Cutting Back Emergent BioSolutions (EBS) and HDFC Bank (HDB)

Emergent BioSolutions (EBS) chart took a turn for the worse - acting poorly in a good tape the past few days... today, strangely the stock is up 8% in a bad tape. I am going to dump much of the rest of my position today and sit back and wait for the chart to set up one way or the other. The stock was as low as $21 this morning and has since surged back up to $23 regaining its 50 day moving average. But this is a General. So I'm selling down to a holding stake of 0.2%. Strategy go forward is to buy when it gets north of $24.

If the stock reverses it could set up an excellent short/hedge.

HDFC Bank (HDB) rallied strongly yesterday because the bad banks in the US will... um... help Indian banks. Or some nonsense. Frankly this chart is now a short set up as it hit resistance @ $62 and reversed. I'm cutting it back to a 0.1% holding position with intention to buy it back in the mid $50s.

If I could juggle more positions and watch the market full time I'd attempt a short on this type of chart. Instead I'm just shorting the general emerging markets....

Long HDFC/Emergent BioSolutions in fund; no personal positions