Wednesday, March 3, 2010

Trade: Sold 50% of Liz Caliborne

Liz Claiborne (LIZ) has been a favorite stock of Stone Fox Capital for a while now. The stock was looking extended on the both the CCI and RSI measures. It was also approaching a double from October so we pruned 50% of our position in the Growth Portfolio at $7.26 leaving 2,000 shares. We'll be looking to buy that position back if the shares trade back to the 20EMA which is at 6.32 today.

It's also discouraging that the stock is down in an up day. Another sign that it might need to rest before trying to breakout of the double top.


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