Monday, May 18, 2009

Trade: Trimming Back on ICICI Bank

While the elections may usher in huge change in India its likely to take years to develop. This jump of 30% in ICICI Bank (IBN) is way overdone and will likely consolidate giving us time to buy back lower. The move had made IBN the largest holding in the Growth portfolio. Selling 33% of the shares in the Growth portfolio at just over $30. The Sensex is up 17% which is unheard of for a mojor index. Wow!

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