This will be the 3rd attempt at a short in Riverbed Technology (RVBD) in the past 6 weeks - the first two being solid successes. I get wary of playing the same drum too many times since eventually it will blow up in your face but let's see if we can press our luck. Last Tuesday we covered 90% of our short in the $18.70s, and put in a limit sell order at $19.77 which just executed. This pushes us back up to a 3.5% type of exposure. I would like to add more short exposure in the low/mid $20s if possible, and I'll continue to use a level around $21 as an escape hatch to cover.

There is still a gap in the mid $15s from April 2009 which would be the big score, but since the market cannot sustain any sort of selloff, I've just been taking intermediate term profits with this name - which has worked well thus far.

Short Riverbed Technology in fund; no personal position

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