Wednesday, September 9, 2009

Bookkeeping: Taking Profits in China

TweetThis
China has been up 6 sessions in a row, so our short term purchase in Morgan Stanley China A Share Fund (CAF) last Monday was well timed (under $30), I am going to head for the exits and repurchase if the fund (a) falls back or (b) jumps over resistance that it currently sits at. I had only began rebuilding the position since I thought there could be more downside, but in this case while we nailed a bottom, the fund reversed and rallied strongly - not allowing us to create a much larger position lower. Cutting majority of the position just under $33.



Similarly, the only one of our 15 limit buy orders that hit last week was CNinsurance (CISG) - we had a fortunate limit order entry at $16.00 that hit last Monday, so I'm going to take the quick 1 week 20% gain and run. Cutting this back to a 0.1% stake as the stock has rallied to just under $19.



I'll replace this long exposure with some index long stuff.

Long both names in fund; no personal position

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012 FundMyMutualFund.com