Monday, March 8, 2010

Bookkeeping: Selling 40% Las Vegas Sands (LVS); Cutting Rackspace Hosting (RAX) Back by a Bit More than Half

With Las Vegas Sands (LVS) up just under 15% from the last place I made a material purchase in mid February (just under $16) I am going to take 40% off the table and hope to rebuy the position back lower.  The sale is around $18.50 as the stock approaches January 2010 highs of $19ish.   This is quite the volatile stock so it generally offers a lot of opportunities to trade around a core position.

I continue to be nervous about the behavior of Rackspace Hosting (RAX) which should be running like mad with the small/mid cap stock rallies - especially of the technology kind.  Until it gets back over the 50 day moving average I am going to be cautious - for now I cull 60% of the position (much of it added last week).  Funny how 75 cents can change your viewpoint... if the stock were over $20 I'd have little concern.  I'll be taking a very small loss on these shares.

Long Las Vegas Sands, Rackspace Hosting 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