Monday, March 8, 2010

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

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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

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