Based on the fresh capital that is sloshing around in long positions, it makes sense.
You should close a Facebook position and let a UTX one expire.
Options expiration may mean a shakeout is in store.
This structure makes sense for AmEx given its low volatility at the moment.
We saw bullish flow in the name today.
We will follow the AAP team out of this energy position.
We are up significantly in the position, and it's prudent to take a profit.
It is below our cost basis, and we see upside.
We expect a catch-up in the stock price later.
We'll trim Goldman Sachs and build newer positions in Walgreen, Microsoft and 3M.