Please note this could be a very short term change in DragonWave (DRWI) position size.  This stock is in exact same position as the S&P 500... it is retracing to a recent high (intrday high earlier this week was $13.93).  Much as I am doing with my index longs, I am selling a portion as we approach the recent high, watching to see if this is a double top or double top breakout. 

[click to enlarge]

We bought a huge chunk of this position Tuesday in the $12.40s as the gap filled, and the stock sits just under $13.80, so a 11% gain in 2 sessions.  [I wish they all worked so perfectly as this one] We will let go of roughly a 2% portfolio allocation and keep the other 2%ish, with intent to buy back either (a) on a pullback or (b) a breakout over $14.00.  By doing this I protect and lock in a very nice gain in an incredibly short amount of time, and we can jump right back for a mere 20-25 cents opportunity cost if the stock just continues upward.

I've also sold my personal position with the same intent... again I want to stress I could be back into this name with the full position, in a matter of minutes or hours (I am not going to create a separate entry... if you see the stock over $14.05, understand the deed was done.  Identical thinking on the S&P 500 using 1150 as the pivot point, as I mentioned yesterday )

Long Dragonwave in fund; no personal position