Friday, September 16, 2011

Closed Out Varian Semiconductor Equipment Associates, Inc

I sold out of my remaining Varian Semiconductor Equipment Associates, Inc. (Ticker: VSEA) position today at an average price of $61.82. I sold some earlier in the week as well. I needed to free up some cash to play China Fire & Security Group, Inc. (Ticker: CFSG) and China Security & Surveillance Technology, Inc. (Ticker: CSR). The Varian Semiconductor Equipment Associates merger arb play generated an ok return of 1.46% over a 47 day period (11% annualized). Not great, but still ok… I just saw greater opportunities in both of the China merger plays. I may get back into Varian Semiconductor Equipment Associates as the stock will likely stay below $62.00 until they receive word from the U.S. DOJ and China’s MOFCOM sometime in October.


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