Go King Dollar!
I am taking some long exposure down as some stocks break support, and others I want to lock in profits. We are simply unable to break out of this range on the S&P 500....
HDFC Bank (HDB) I have been adding in small increments of late, but today it has broken support - this Indian bank is very expensive but has run far above a place I ever imagined... I am going to cut it back by 2/3rds. The 50 day moving average is broken and a very obvious gap beckons.
Potash (POT) seems tired; still in decent shape on the chart and maybe it will hold up here or fall to $108s... we'll see. For now I'm cutting 1/2 to lock in some profits.
Go dollar go... I messed up by not buying yesterday morning's weakness here, as I proposed I wanted to do. Brain fart.
I am looking at other names - Gafisa (GFA) continues its big drop, we cut back almost everything 2 days ago. Sometimes by cutting back when a stock breaks support you look like a fool when the stock reverses right back up, but many times it saves you from more losses.
Long all names mentioned in fund; no personal positions