Late
August Due Diligence (DD) persuaded me into a core position for Speculating (months) in Xinyuan Real Estate Co. (XIN). I was willing to hold a core position for
several months.
I planned to scale in beginning with a position consisting of
10% of my capital/portfolio at $3.01. I
was prepared to add another 5% on a 20% dip around $2.40 but it broke out and I
took a third off at $3.44 for 14% gain and another third off at $3.28 for 9% gain. Friday, I added a third
back (doubled up) at $3.16 for a 6% of capital/portfolio at $3.09 average just
below the $3.10 support. I plan to add
another third if it pulls back to the $2.70 support reestablishing the 10% core
position and another 5% around $2.40 to complete the 15% intended core
position; otherwise I will scale out a third twice with gains if it breaks out of the current flag and repeat the
process over and over again.
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