Thursday, October 7, 2010

Bookkeeping: Selling Majority of Remaining Gafisa (GFA), and One Third Polypore International (PPO)

I am going to sell almost all of the remaining Gafisa (GFA) [about 1% allocation) as the stock has run quite far and might have created a top.  More so that the stock the general market is an issue for me, and I want to lock in more gains and get into more cash - seeing multiple stocks I either own, owned, or on my watch list fall 15-20% in 2 sessions strikes me as a warning signal on the broader market.

I have a limit purchase order to buy at the 'gap' - more aggressive traders could short, and cover at the gap but since I am befuddled by the way the market currently behaves I am going the conservative route.  I'll retain a 0.1% exposure so I don't lose track of the name.  This sale will lock in about a 17% gain.

I am selling 1/3rd of Polypore International (PPO) for similar reasons.  This will lock in a 21% gain.

Long Gafisa, Polypore International in fund; no personal position


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