Yesterday, I mentioned we only had 4 material long positions. We can make that 3. And by the end of the day it might be less, pending if some stop losses hit.
Through no fault of it's own, just a ratty stock market, Atheros Communications (ATHR) finally seems to be taking its required hit. It has now broken below the intraday lows it reached during the heavy selling last Thursday, Friday - which tells us it is time to pare back. I am selling 2/3rds in the $31.80s and taking some moderate losses. We'll shuffle that money into the cash account and twiddle fingers in the meantime.
I'll be interested in a return to exposure if Atheros jumps back over the squiggly blue line or (could it really happen?) falls to the squiggly green line.
Long Atheros Communications in fund; no personal position
Thursday, February 4, 2010
Bookkeeping: Cutting Atheros Communications (ATHR) by 66%
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows