Closing Trade: Long Google (GOOG) And Short AOL (AOL)

By: ispeculatornew
Date posted: 06.17.2011 (3:00 am) | Write a Comment  (0 Comments)

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In the recent past, it has generally been good news when I’ve been able to close out a trade. Unfortunately, that is not the case today as I have to close out the trade where we were Long Google (GOOG) and Short AOL (AOL). The markets have been very volatile recently and I’ve had 3 trades hovering around +20% or -20% (1 being on the good side and 2 not so much). Today, one of them finally ended the day over the stop loss so I will be closing it out. The trade was initiated in February and as has often been the case, trading Google did not turn out so well. I had hesitated going short on AOL. I’ve been much more positive about AOL this year, especially after its acquisition of the Huffington Post. It’s not clear how that purchase will turn out for AOL but the blog has just passed the NY Times website as the most visited news website.

The trade currently stands at -21.76% and will be closed out this morning which should also mean a new trade on Monday. For those curious, our annualized year-to-date return still stands at a very strong 64.17% before fees.

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