Sold all my FAN at $10.83 today.
Reasons:
1. S&P500 has doubled off the recession lows, and I think the risk/reward balance is unfavorable for stocks in general, with oil and food prices so high. Since November 2010, I've moved from being on margin, to 80% cash now.
2. After following the alt-energy sector daily, for over a year now, I've concluded my initial assessment, of wind vs. solar, was wrong. I've concluded solar will win over wind eventually.
3. The winners in wind are stocks not in FAN: GE, SI, and Chinese companies. Now that I understand the industry better, I realize many of the components of FAN (like wind farm operators), I don't want to own.
4. I started buying in early 2010 at $14 (too early), and bought all the way down. I now (finally) have the opportunity to get out even. |
