Monday [
May 18: Bookkeeping - Selling Majority of Quality Systems into Barron's Hype on Cerner (CERN)] I exited all but 1 share of
Quality Systems (QSII) - this is effectively selling out of the position but I prefer to keep 1 share around instead of completely selling out and restarting positions.... this was done in the $58s, I missed the top by 1 day but good enough for government work. Today the stock is down about 12% from where I sold Monday, so I am going to begin to slowly rebuild the position near $52. Valuation is still rich, and if $50 does not hold the stock could be in trouble ... today's purchase is only about a 0.7% stake. If we get down to $50 I'll make another purchase but if we punch through support I'll re-assess. The overall market will probably be as important as anything any individual stock does here...
If the S&P closes
below 885 or so that will be the first real break of the 20 day moving average
since March 12th and things can change mighty quick 'round here. Caution is warranted until / unless we see that resolution.
Long Quality Systems in fund, no personal position
