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Tuesday, February 23, 2010

Time for Consolidation

Yesterday, I sold my Jan 2011 $55.00 call in TEVA Pharmaceutical (TEVA) at $7.75 for a 28% gain. I'm trying to consolidate some of my positions to free up cash for some larger moves in the near future. During certain times of the year, I'm involved in 15 - 20 different stocks, puts/calls, etc, which is a hassle to keep track of at one time.

With my recent sell-off, I have narrowed my number down to six and will probably eliminate another two, which are American International Group, INC (AIG) and YRC Worldwide, INC (YRCW). These were both purely speculative plays, which did not pan out, so it's time to get them off the books.

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