I am going to sell some of the common stock in that one right now…

The Nasdaq is now up almost 150 this week.  Yes, it turns out that Greece’s budget crisis hitting just when QE2 is ending and there’s supposedly a huge budget impasse in this US even as Japan’s nuclear nightmares continue and…well, you know well what everybody wanted you panicking and selling out your stocks back last week, remember?

I know, it’s hard to remember just how awful it felt to buy when the DJIA was at 11900 and Riverbed had dropped from $38 to $32.   It felt awful but it was silly to think that Riverbed was doomed if Greece’s teachers hadn’t taken a paycut…ha!

Anyway, guys, we’ve just had a HUGE run in our portfolio this week — blowing away even the Nasdaq’s 6% move higher this week, and there’s nothing wrong with doing a little selling and taking some profits and catching our breath a little bit.  I’m going to keep Riverbed as one of my very largest positions over all, but am going to sell some of the common stock in that one right now.   Holding on all the calls I bought last week when the stock was near $32.   I’ll be back to explain why I’m employing this selling strategy in a bit.

Back in just a moment with an update on CVC too.