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.
No positions
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