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Dec

19

Covered BSC and LEH shorts

December 19, 2007 | Leave a Comment

This morning I decided to cover my shorts in BSC at $93.25 and LEH at $62.52. Frankly, this is a defensive move, as I have big positions in the brokerage sector (namely MS) that are going against me at the moment. I don’t feel that covering MS would be advantageous at current prices, so covering the other brokers effectively cuts some of my exposure for the sector.