I am going to do an awful thing and actually sell some long exposure - hang me in effigy. Selling 1/3rd of our 2%ish position in Blackstone Group (BX). We've enjoyed a 25% rally in 2 weeks in this name. It is breaking out nicely but I want to lock in some profits off a nice run. Continue to like this name and would like to buy back the position on a ... well... they used to call it a selloff. We just added to this stock a week ago at $13... and in a heartbeat we're at $15. It's all starting to get 1999ish out there - just need to rename it Blackstone.com and I'll start having flashbacks.
Selling here north of $15 as the stock matches recent highs ; I'll toss a limit buy order somewhere there in the $13s and see if we can get this exposure back at lower prices. Either the stock will be making a double top, or break through and start a new leg up. Based on comments I am seeing everything on the internet(s) [sic] I am the only one who assumes its not the next leg up. ;)
Long Blackstone Group in fund; no personal position