Monday, November 15, 2010

RSY XVIII: Profit Harvest IVR.

The RSY portfolio uses ratings changes from Sabrient to signal either diminish shares of an equity position or to exit completely. IVR was recently downgraded to Hold. Thus RSY will recommend to take some partial profit from the position we now hold in IVR, which is to sell 200 {out of the 400} shares of IVR at a limit price of $22.41 {GTC}. RSY still wants to hold some of this stock, especially considering the outstanding dividend yield it produces. RSY will exit though if it gets further downgraded.

The RSY portfolio noted the buy of 400 shares of EGAS at the price of $10.01. I did not mention this before but the RSY portfolio did not enter the position of 200 shares of PL on the 5th. Our recommended limit order was not reached of $24.51, but came awfully close. On the 8th, I was also watching its movement and it never came close to our strike price. The ex-dividend passed on the 9th and since that time it has sagged to as low as $23.80. Update of the portfolio in the next day or so.

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