Kelly: Selling Half of VGZ

by: Thomas Kelly January 27, 2008 | about stocks: VGZ

Thomas Kelly

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Friday morning I decided to sell half of my position in (VGZ) at $4.68, effectively reversing my purchase of yesterday and taking 31 cents of profit out of the stock in just one day. Essentially, by doubling the position yesterday and flipping the position today, I have effectively lowered my basis while maintaining the same size position. I continue to like VGZ, but it is somewhat speculative, so managing the size of the position in essential. All in all, I accomplished what I set out to do with this trade.

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Jan 28 07:33 AM
Much ado about nothing (essentially) it seems to me. And as far as TK being very long the market now, that's also a mistake IMO, but it would still be interesting to see a recap of the ENTIRE portfolio of longs and shorts one of these days.
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Kelly: Selling Half of VGZ

Thomas Kelly

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