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As I predicted yesterday, the short Intel (NASDAQ:INTC) - long Teradyne (NYSE:TER) paired trade I had entered on 7/22/2010 moved strongly into profit today.

That in itself would not be a reason to close the trade out, but I closed this paired trade out today at a good profit because as seen in the picture below, our Value metric for this paired trade made a zero-crossing and is moving towards the other extremum. Compare this picture to the one day before picture I posted yesterday in my InstaBlog.

Rather than take our chances and wait for POSSIBLY more profit as it swings to the other extreme, I took profit on this trade today.

Disclosure: None

Source: The Short Intel, Long Teradyne Paired Trade: A Follow-Up