Take physic, pomp

Trading Post (afternoon edition)

Two Trading Posts in one day? Yep, if only to celebrate the fact I’ve actually done some trading for once.
Cosan (CZZ) down 0.5% at $3.56. Profits definitively taken as I sold my remaining CZZ at $3.71 (the same price the first chunk went for). Three reasons: 1) I was getting sick of the rollercoaster that hasn’t been getting anywhere, 2) after adding to the NG short I wanted to raise a little more cash and 3) I sense that TRY.to might be on offer soon so I’d like some spending money on hand. CZZ was a fairly chunky position in my port and I like the feeling of more cash right now…never been afraid to sell things. For the record the profit was 30% on the play, which isn’t bad after two months or so. Wanted more, but hey…that’s the game.

Soquimich (SQM) up 2.4% at $29.48. SQM put on a bullish conference call this morning, forecasting higher prices and growth in its main products (fertilizer, iodine, lithium). Up 20% or so in 2009 and looking solid now. Well-run company that covers interesting sectors.

Troy Resources (TRY.to) down 6.5% at $1.00. Volumes are tiny and with bid $1.00 / ask $1.08 it can hardly be called a trading vehicle. These kinds of illiquid moments can throw out downspikes as someone sells on a panic. I’m now watching and hoping I can pick up some more down in the 90s somewhere. If my price doens’t appear there will be no sweating; it’s already my biggest position.

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