Monday, April 19, 2010

Bookkeeping: Closing Rackspace Hosting (RAX)

That was a short stay.  Last Thursday, Rackspace Hosting (RAX) broke out on huge volume out of a multi month base.  Then Friday the US markets finally sold off more than 1%.  The situation was still "ok" (not great, but ok) as of Friday since it held $20, but today it has returned right back to the base, and the basis for the trade is over.  Hence I will sell and take my lousy 7% loss.  We have had no luck with this stock on multiple iterations.

No position


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