Monday, November 19, 2012

Sold Some Nexen, Inc.

I took some Nexen, Inc. (Ticker: NXY) off the table this morning to reduce my risk a bit. I sold Nexen at $25.70 against the position I purchased at $23.73 on 11/08. I generated a net gain of 8.30% over a twelve day period (~249% annualized return). I still have a decent position in Nexen and still see a good chance that the Canadian government approves this deal. I just don’t want to get too greedy as the year winds down.


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