Wednesday, May 19, 2010

Bookkeeping: Closing Skyworks Solutions (SWKS) and Wyndham Worldwide (WYN)

I am going to close some minor positions here to make room for new names in the future. The general theme is sell weaker charts, and replace those names with stronger charts or "hot money" names that will bounce the next time the "all clear" signal sounds i.e. a Cleveland Cliffs (CLF) which is sitting right at the 200 day moving average. Since I don't want to get bloated in terms of # of positions, it's time to act Darwin like and kill off some of the weak.

I am not ready to do the buying yet since I am not believing this bounce to be "the one", but let's clear out some stragglers. I still love the fundamentals in Skyworks Solutions (SWKS) but as mentioned yesterday, when I cut 2/3rds of what I had left, the name is struggling technically. I am going to punt this last 0.3% today.

Wyndham Worldwide (WYN) has been one of our best performers over the past year, and one of the oldest names in the portfolio (held since May 1, 2009) - going to dump it for now and revisit later. Again, only a 0.3% exposure.

No positions


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