Additional profit taking in SBM portfolio & short FTSE position opened @ 6270 & short Netflix @ $147

We are adjusting some of our positions today for the reasons below – 

1. Research in Motion. Conviction Buy $13 – April 23 2012. Added to position at $7.29 – 10 Sep 2012. (Average $10.14c). UPDATE – WITH AN AVERAGE OF JUST OVER $10, AT THE CURRENT PRICE SCRATCHING $18 IT IS PRUDENT TO TAKE ADVANTAGE OF THE LENOVO TAKEOVER TALK AND SELL 50% OF THE POSITION TO BE IN ALMOST FOR FREE. THAT’S WHAT I CALL A TRADE!

6. Nokia. Conviction Buy $2.50 – Jun 18 2012. 30% position sold @ $4 – 27 Dec 2012. Additional 30% sold @ $4.45 – 10 Jan 2013. UPDATE – PER RIMM, AT THE CURRENT PRICE OF $4.20, WE ARE HAPPY TO SELL THE BALANCE OF OUR POSITION HERE NOW.

7. Nikkei 225. Conviction Buy 8600 – Jun 21 2012. Added to position @ 8850 – 10 Sep 2012. 30% position sold @ 10400 – 28 Dec 2012. WE SELL ANOTHER 30% OF THE NIKKEI TODAY AT 11000 AS WE THINK THE INDEX, IN THE SHORT TERM, WILL STRUGGLE TO PUS ON FURTHER MATERIALLY. 

9. Ceres Power. Conviction Buy 5.2p – Aug 3 2012. Open offer taken up @ 1p on 12 Dec – new average 3.5p. IT’S FAIR TO SAY THIS HAS BEEN A ROLLER COASTER IN RECENT MONTHS AFTER DAVID PUMMEL GAVE THE COMPANY AWAY. AT 9P WE HAVE MADE 3 TIMES OUR MONEY AND SELL HALF THE POSITION – WE ARE IN FOR FREE AND HAVE A 50% PROFIT TOO. ALSO, WHAT A TRADE!!

We have listed the original inception prices too that can be found on the About Us page

Additionally, we open a short on the FTSE today at 6270 and a trading short in Netflix @ $147.

If you’d like to learn more about our thinking that led us into these trades and our view over the first quarter of 2013 click the image below for your free guide.