With the caveat that is has been wrong to sell any stock, I am going to sell almost all Ctrip.com (CTRP) simply because our position size is not huge - less than 1%.  After a stellar earnings report at the beginning of November, the stock gapped up... ran, and then came back to fill its gap.  This is where we began a position on the 19th, in the upper $66s... we were hoping it would fall even farther so we could build a bigger stake but in this market - you have to chase everything. So we decided to at least have some skin in the game.

The chart looked like this at that point...

Since then it's been a Chinese stock party, and the chart looks like this now; up 8 of the past 9 sessions (since we bought) 

I've been trying to not take profits in things since selling anything has been a fools game, but my instincts kick in here at $78 as a 16%+ gain is offered in 2 weeks (that annualizes to >400% return).  Good enough.  I am exiting almost the entire stake with hopes to buy it back on a pullback to the low $70s or below.

Long Ctrip.com in fund; no personal position