Good evening to all of you. I am writing a quick note to let you know that I now take back half of the trade I had suggested December 17th (see here). In that trade, I had suggested going long Priceline (PCLN) vs short Blue Nile (NILE). I had done so on a medium to long term basis based both on the current valuations of the time as well as in anticipation of better growth for Priceline given the economic context.

I still believe that the economic context will give an advantage to Priceline and so will keep half of that position but given the profit of 25.68% in about 2-3 weeks, I would now take in half of the profit.

Recent picks:

PCLN/NILE = +25.68% (half off)

BIDU/YHOO = +8.66% (including a 50% closing a couple of weeks after the trade)

EBAY = -1,36% (position open)

DOW = -29,25% (it was closed as would any trade of mine once it reached -20% but since the Kuwait deal collapsing caused it to drop drastically overnight, I went over the 20% limit.

AAPL = -3,97% (still open, awaiting results)

Overall not bad, especially my last 2 picks obviously. Dow Chemicals was a costly mistake and I still believe in EBAY and AAPL… we’ll see where that takes us!