Bookkeeping: Taking Profits in China
Benzinga 17 years ago
China has been up 6 sessions in a row, so our short term purchase in Morgan Stanley China A Share Fund (CAF) last Monday was well timed (under $30), I am going to head for the exits and repurchase if the fund (a) falls back or (b) jumps over resistance that it currently sits at. I had only began rebuilding the position since I thought there could be more downside, but in this case while we nailed a bottom, the fund reversed and rallied strongly - not allowing us to create a much larger position lower. Cutting majority of the position just under $33.
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Similarly, the only one of our 15 limit buy orders that hit last week was CNinsurance (CISG) - we had a fortunate limit order entry at $16.00 that hit last Monday, so I'm going to take the quick 1 week 20% gain and run. Cutting this back to a 0.1% stake as the stock has rallied to just under $19.
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I'll replace this long exposure with some index long stuff.
Long both names in fund; no personal position
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Similarly, the only one of our 15 limit buy orders that hit last week was CNinsurance (CISG) - we had a fortunate limit order entry at $16.00 that hit last Monday, so I'm going to take the quick 1 week 20% gain and run. Cutting this back to a 0.1% stake as the stock has rallied to just under $19.
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Click here to download Flash Player nowif (typeof(embedWikichart) != "undefined") {embedWikichart("http://charts.wikinvest.com/WikiChartMini.swf","wikichartContainer_0BECA11A-5FD4-19C9-6191-9F9F37D83D1E","390","245",{"ticker":"CISG","rollingDate":"3 months","liveQuote":"true","showAnnotations":"true"});}View the full NASDAQ:CISG chart at Wikinvest
I'll replace this long exposure with some index long stuff.
Long both names in fund; no personal position