I'LL BELIEVE WHEN I SEE IT

CYT

Sold CYT (5.7). Terrible results. There is almost nothing positive to show, against rather haughty expectation. The management again is promoting next quarter. I will believe when I see it. I also cut a couple of small speculative positions.

Also sold the balance of RSE (6.25, 40%) and PSD (2.0). RSE is ahead of my target and I thought it starts getting expensive; PSD has been a frustrating story. It has great earnings, cash flow, quarter after quarter, but the stock has done nothing. So this is really a frustrating quit, although I did achieve about 13% return for about a year.