Friday, May 14, 2010

Bookkeeping: Some Cutbacks

These gyrations around moving averages tend to have me pushed in, and then flushed right back out so it's well expected. Around this time yesterday we were making advances on breaking north of the simple 50 day moving average; 24 hours later January 2010 highs are broken and it's a different landscape. Have to adjust - especially the names we jumped back into as they crossed "over" their 50 day moving averages... and now are reversing. Unfortunately it remains a student body left environment where individual stories mean little - (almost) everything is either going to be bought, or sold as HAL only knows this 1 trick.

Wyndham Worldwide (WYN) was build back up earlier this week just over $26; I am going to take the loss (about 5%) and cut it back by about 80% as it broke right back down.

Ditto - Quality Systems (QSII); taking 50% of position back to cash with sale around $61.50; offsets purchase at $63.40 earlier in week (loss of 3%)

I took about 0.3-0.5% off from a lot of lesser positions as well, but the amounts are not large enough to really break down 1 by 1. Essentially I am "getting smaller" below S&P 1150.

I also added a few stop losses to other positions added earlier this week, so if the market continues to wheeze we'll be adding to this list of cutbacks.

Long all stuff mentioned in fund; no personal position


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