Topsy-turvey dayPosted: October 16, 2013
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“One of the funny things about the stock market
is that every time one person buys, another sells,
and both think they are astute.
— William Feather
This has been a strange day. While the rally breakdown for MTSL, the equity of MER Telemanagement Solutions, continued bringing the per share price down 14.1% (or $0.38,) the per share price of UNTK, the equity of Unitek Global Services, went up 37.6% (or $0.41.)
Since my holdings of UNTK and MTSL are of the same magnitude, these movements mean that, from a portfolio standpoint, the day was a near-wash in spite of tremendous dollar changes in the positions.
In fact, at some point the two portfolio balances was within a few dollars of balancing each other out and I found myself cheering them on in the efforts to find the perfect equilibrium.
Here is the action:
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