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Tuesday, February 26, 2008

Out of RIO

I cashed out of my position in RIO in pre-market trading in the low 35's. My cost basis was $31.60, so I made a bit of a profit. They are going to be reporting earnings after hours on Thursday and a follow-up conference call on Friday, so with this volatile market, I wanted to be sure and lock in some profit. Of course if RIO drops into the low 30's, I will be there to help pick up the scraps.

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