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.


Post a Comment

<< Home