Thursday, September 9, 2010

Bookkeeping: Another Round of Profit Taking, Especially in "The Generals"

I am going to continue to sell down exposure in long names - especially as our 'generals' are taken for a ride to the heavens.  Most of these I cut back last week as well.  Aside from these names I have a few others to sell if the S&P jumps 5-15 more points in the coming hours/days.

I am selling almost all remaining shares in Acme Packet (APKT) - it is now not even within sniffing distance of the 20 day moving average.  Keeping 0.1% exposure just to have it in the portfolio.

Netflix (NFLX) has apparently cured cancer... at least based on how the stock acts.  Same transaction - selling almost all remaining shares, keeping 0.1% exposure.

Tibco Software (TIBX) - same game plan, all but 0.1% now sold.

Riverbed Technology (RVBD) - ditto! Down to 0.1%.

Cleveland Cliffs (CLF) - not quite as overbought as the others but going to sell it down to 0.1% exposure.

I am going to sell half of (AMZN) as it is now stretched.

Long all names mentioned in fund; no personal position


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