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A few moments ago I sold my remaining 100 shares in FMC Technologies (FTI) at $62.90/share. These shares were purchased 1/3/08 at $63.52/share. They were part of a larger lot which was purchased and sold the same day. I left 100 shares as I was happy with the stock and it met my criteria. I do believe that I shall be implementing this strategy of selling most of a "trade" in my one position arbitrary 'trade' strategy, and leaving behind enough for a regular position if it is successful. I haven't blogged much about this as this whole process is evolving. Anyhow, since I had sold the stock 'once' for a gain, with the stock now moving past break-even into a slight loss, it is time to unload the remaining shares.
I am not convinced of the depth of the current rally which for me suggests a bounce in an 'oversold' market.
Anyhow, with my own sale of FTI, I am reducing my rating on the stock:
FMC TECHNOLOGIES (FTI) IS RATED A HOLD
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