PORTFOLIO UPDATE: A SLIGHT TRIM
During the trading day, I tweeted the following:
On Friday, I said that the 10 level was the most significant level of resistance EVOL will face during this uptrend. The reaction to the level had enough downside velocity attached to it that it caused me to cut the position in half following a nice two and a half month profit in the stock.
There is also that little issue of the market being in an unpredictable, reactive phase right now as it attempts to digest the upside we have seen throughout September. A slight bit of defense certainly isn't a bad thing here.
As of the close today, the portfolios consist of WMIH, HMPR, EVOL and CIDM. There is one more name that I have been accumulating and will be announcing before month end, as long as I have the shares I would like in place. Current allocation is 85% long and 15% cash.
Per the usual, I will have a detailed discussion of the developments in each individual name during the month end performance summary due out next week. If you would like to be added to the monthly email list to receive a full PDF version of the performance summary, please email me at mail@T11Capital.com
