Selling IRM @ $25.15 - 1/2 of the position.
Now holding 2% in IRM.
It was a bold move to buy a 4% position in IRM in one go. Usually, we build a position over a few purchases: 2%, 4%, 6%.
We'll take some profits for our aggressive buy on this earnings pop. (Taking profits in a market we want to short is the same as shorting - both reduce exposure!)
The transformation story of IRM continues. It's a favorite idea, but managing market exposure outweighs our desire to hold more than a medium position after the jump. We'll look to add again on weakness over the next few weeks.
Now holding 2% in IRM.
It was a bold move to buy a 4% position in IRM in one go. Usually, we build a position over a few purchases: 2%, 4%, 6%.
We'll take some profits for our aggressive buy on this earnings pop. (Taking profits in a market we want to short is the same as shorting - both reduce exposure!)
The transformation story of IRM continues. It's a favorite idea, but managing market exposure outweighs our desire to hold more than a medium position after the jump. We'll look to add again on weakness over the next few weeks.
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