Today, I will be closing my first trade of the year where I went long Apple ($APPL) and shorted AOL inc ($AOL). That trade is now up over 47%, not too bad right? It has certainly helped the overall portfolio which is up 11.42% (see all trades here).

Why am I closing the trade? No it’s not because I don’t believe in Apple. In fact, it’s very likely that I will open a new position with Apple (and I do still own it as one of my 3 long term speculative picks). Rather, I’m closing it because the trade is up nearly 50% and I’d like to take the opportunity to revisit it and see if I can find a better trade going forward.

Here is the chart since opening the pick on Jan 5th.

AAPL data by YCharts

You can expect a new trade on Monday morning:)

Disclaimer: Long Apple ($AAPL)