I have an announcement to make. My stock tracking portfolio will be closing its postion in International Coal Group, Inc. (NYSE: ICO). This position netted roughly 258% over a one year period.
The reason why I'm closing the position is Arch Coal, Inc. (NYSE: ACI) has decided to acquire International Coal Group, Inc. (NYSE: ICO) for $14.60 per share. I have to admit that this deal was first announced on May 2, 2011 and since then ICO has hovered at a 52 week high of $14.52. With nothing else to gain, I will close the position in the portfolio. Note: Your portfolio would hold this stock until the deal is completed and there would not be a need to sell the stock like I am in my tracking tool.
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Showing posts with label close position. Show all posts
Showing posts with label close position. Show all posts
Wednesday, May 25, 2011
Friday, January 28, 2011
Close Position: CIT, AIG
Now that my tracking tool is working again I can update when I anticipate closing certain recommendations from the past.
American International Group (AIG) - As you recall, I already recommended closing this position and I blame AIG on the confusing warrant situation. You remember we exited at roughly $55 a share. Due to the lack of availability in my tracking tool, it will unfortunately show that the position was closed much lower.
CIT Group (CIT) - This pick was from the middle of last year. You'll notice the trend with these trades is we believe in the policies of the Federal Government and many of the early investments they made we built positions in these companies. It is tough but you try to anticipate the turning point where the downside risk is no longer falling dramatically. Time to ring the register on CIT.
Also take a look at last roughly 20 picks that were closed, only 4 closed negatively. Not a bad trend.
American International Group (AIG) - As you recall, I already recommended closing this position and I blame AIG on the confusing warrant situation. You remember we exited at roughly $55 a share. Due to the lack of availability in my tracking tool, it will unfortunately show that the position was closed much lower.
CIT Group (CIT) - This pick was from the middle of last year. You'll notice the trend with these trades is we believe in the policies of the Federal Government and many of the early investments they made we built positions in these companies. It is tough but you try to anticipate the turning point where the downside risk is no longer falling dramatically. Time to ring the register on CIT.
Also take a look at last roughly 20 picks that were closed, only 4 closed negatively. Not a bad trend.
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