Both Citrix Systems (CTXS) and Tibco Software (TIBX) were sold out of the portfolio when they broke some minor support roughly 2 weeks ago. In retrospect both decisions were poor as the stocks have rebounded nicely. Tibco I can live with as an error as I was probably too eager to sell, but the Citrix Systems situation is the type that makes one scratch their head - the stock closed below a key technical level (50 day moving average) then reversed course as if it never happened. It looks like someone was playing a game with this one. Seeing a lot of these strange upward reversals after technical breaks, in this epic run off the late August lows.
That is part of the push pull when you sell merchandise that breaks support to protect against further losses - sometimes those names do a 180 degree turn once you've been 'shaken out' and make you look a fool. But the frequency of this happening has been very high the past few months.
Friday, November 26, 2010
Some Poor Sales the Past Few Weeks
Citrix Systems|Tibco Software|
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows