Kelly: Sold 10% of RIC, Increased CHCG Position

Includes: CHCG-OLD, RIC
by: Thomas Kelly

Tuesday afternoon I decided to sell just a bit of my position in (NYSEMKT:RIC) at $3.24. After taking a harder look at my portfolio, I was getting a bit overzealous with position sizing, and felt that cutting the position down slightly would give my portfolio a bigger margin of safety against volatility. It continues to be my biggest holding and I continue to like the stock into fourth quarter earnings, which I expect will take the market by surprise.

Additionally, I increased my position in (OTC:CHCG-OLD) at $3.07. The company has already upped 2007 in late November, and has had generally positive developments since then regarding its joint venture with Carrefour in China. The stock is simply too cheap at these levels, and I will be looking to allocate more capital in that direction if CHCG stays down at these levels.