Friday, December 21, 2012

Sold Gardner Denver and More Nexen Again

I sold my position in Gardner Denver, Inc. (Ticker: GDI) this morning at $74.50 generating a net gain of 1.43% over an 8 day period. I didn’t like the price action towards the end of the day yesterday and got shaken out this morning. I added to my Nexen, Inc. (Ticker: NXY) position today at $26.69.

Edit: I wish I can call it skill, but I just got lucky with Gardner Denver. Reuters is reporting that SPX Corp. has ended talks to acquire Gardner Denver sending the stock down ~ 10%. My gut feeling was to get out of this position ASAP this morning. Now it’s actually looking interesting as private equity will likely offer in the mid 70’s for Gardner Denver.

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