Monday, May 17, 2010

Bookkeeping: More Stop Losses Hitting

A few more stop losses triggered this morning: Lennar (LEN) and BorgWarner (BWA)

Lennar for half the remaining position (I had already taken some off the table earlier for profit) was set at $17.60s. These are being sold at a 3% loss.

BorgWarner, about 55% was sold at a stop loss of $38.70; about a 4% loss - it has dropped quite a bit more since.


I also cut some 35% of SL Green Realty (SLG) not because support was broken but since I bought a "breakout" which is being crunched by a weak market.

I cut back ETFS Physical Palladium (PALL) by half

A few other names are sitting very close to places they will need to be cut.

Riverbed Technology (RVBD) [stop poised] and F5 Networks (FFIV) are now the only 2 remaining positions that have serious weight left to them. Everything else is 1% exposure or less.

Long all names mentioned in fund; no personal position


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