Full or Half Position Inconsistency

[phillCC]

Inconsistency between FULL and HALF positions
MU 07jan2023 has instructions to sell FULL position in many holdings
MU 19jan2023 has stated that only HALF position was sold in many holdings

MU 07jan2023 says to sell FULL positions in:-
CPB FISV MSFT AMN COUP FIVN HTLD HALO MGNI QCOMM
GBTC ETHE
XBI UL FINX

MU 19jan2023 states that only HALF positions were sold in:-
FISV MSFT AMN FIVN MGNI
GBTC ETHE
XBI

MU 07jan2023 page8 says to sell full position:-
"Note that If the second trigger (which in most cases is the Dow) is set off,
but the first trigger is not, then the full position should be closed."

Dow trigger has traded in 34,200 to 34,400 range
Bitcoin trigger has traded in 21,000 to 22,000 range

Note that I do not monitor and have excluded Mod-to-HiRisk and PrecMetal Portfolios

[SOL]

Inconsistency between FULL and HALF positions
MU 07jan2023 has instructions to sell FULL position in many holdings
MU 19jan2023 has stated that only HALF position was sold in many holdings

MU 07jan2023 says to sell FULL positions in:-
CPB FISV MSFT AMN COUP FIVN HTLD HALO MGNI QCOMM
GBTC ETHE
XBI UL FINX

MU 19jan2023 states that only HALF positions were sold in:-
FISV MSFT AMN FIVN MGNI
GBTC ETHE
XBI

MU 07jan2023 page8 says to sell full position:-
"Note that If the second trigger (which in most cases is the Dow) is set off,
but the first trigger is not, then the full position should be closed."

Dow trigger has traded in 34,200 to 34,400 range
Bitcoin trigger has traded in 21,000 to 22,000 range

Note that I do not monitor and have excluded Mod-to-HiRisk and PrecMetal Portfolios

Extracted from the Jan 7, 2023, update

Fiserv, Inc. (FISV)

Close half the position in the 108 to 110 range. Or when the Dow trades in the 34,200 to 34,400 range. Sell the 2nd half in the 115.50 to 118 range. Place a stop at 90.00


Microsoft Corporation (MSFT) Updated

Sell half in the 278 to 285 range or when the Dow trades in the 34,200 to 34,400 range.



I think you confused the triggers; using FISV as an example
Fiserv, Inc. (FISV)

Close half the position in the 108 to 110 range. Or when the Dow trades in the 34,200 to 34,400 range. Sell the 2nd half in the 115.50 to 118 range. Place a stop at 90.00

In this example, only half was supposed to be sold as the trigger for half the position was either FISV trading to 108 to 110 or the down trading to 32,4k to 34,4K. The second trigger was based on FISV price only.

If the instructions were set as to sell the 2nd half when the Dow trades in the above ranges, then the entire position would have been closed.


The same applies to GBTC and ETHE. In both cases the instructions were for only half of the entire position and not the full position.

Grayscale Bitcoin Trust (BTC) (GBTC) Updated
Close half the position in the 21 to 24 ranges. Or when Bitcoin trades in the 21,000 to 22,000 range.

Grayscale Ethereum Trust (ETHE) Updated
Close half the position in the 15.00 to 16.30 range. Or when Bitcoin trades in the 21,000 to 22,000


Contrast this to these instructions

Capitol Federal Financial, Inc. (CFFN)
Close the whole position in the 10.50 to 11.40 range. Or when the Dow trades in the 34,200 to 34,400 range. Place a stop at 7.20

Here the instructions are to close the entire position when the stock trades in the 10.50 to 11.40 range or when the Dow trades in the above range. Hence either trigger means that the entire position would be closed.

[phillCC]

Another inconsistency between FULL and HALF positions

MU 07jan2023 instructions for HTLD:-
"Close half the position in the 18.30 to 20.00 range. Sell the second half when the Dow trades in the
34,200 to 34,400 range"

MU 07jan2023 instructions for XBI:-
"Close half the position in the 90 to 93.00 range. Sell the second half when the Dow trades in the
34,200 to 34,400 range."

I thought both examples above had two triggers, with the DOW being the 2nd trigger in both examples

However, MU 19jan2023 says ENTIRE position of HTLD was sold, and only HALF of XBI was sold

[SOL]

Another inconsistency between FULL and HALF positions

MU 07jan2023 instructions for HTLD:-
"Close half the position in the 18.30 to 20.00 range. Sell the second half when the Dow trades in the
34,200 to 34,400 range"

MU 07jan2023 instructions for XBI:-
"Close half the position in the 90 to 93.00 range. Sell the second half when the Dow trades in the
34,200 to 34,400 range."

I thought both examples above had two triggers, with the DOW being the 2nd trigger in both examples

However, MU 19jan2023 says ENTIRE position of HTLD was sold, and only HALF of XBI was sold

As for XBI, there was an error, which will be fixed in the next update; the second sales trigger was activated so the whole position should have been listed as closed. All errors will be addressed in the next issue


The difference between HTLD and the say MSFT is that, HTLD had two trigger points and MSFT and other plays it specifically stated that only half the position should be closed and the trigger was either a specific price range or the Dow.

HTLD has instructions to sell two lots one at a specific price range and the second half when the Dow trades in the stated range. However, we also noted that if the second half of the position was to be closed out when the Dow traded within a specific range then the entire position was to be closed. Again the Dow triggered the second half of the sale, so the first half would be closed. In all the other example, the instructions specifically stated that half of the position should be closed.


Look at the difference in the two


Capitol Federal Financial, Inc. (CFFN)
Close the whole position in the 10.50 to 11.40 range. Or when the Dow trades in the 34,200 to 34,400 range. Place a stop at 7.20

Himax Technologies, Inc. (HIMX)
Sell half the position in the 9.60 to 10.40 range. Or when the Dow trades in the 34,200 to 34,400 range


The instructions are not the same. The first one stated that the whole position should be closed when a specific price range is hit and or the Dow trades within the above ranges. The second one clearly states that only half should be sold.


Let's look at another one.

Global Payments Inc. (GPN) Updated
Sell half the position in the 128 to 132 range. Sell the second half when the Dow trades in the 34,200 to 34,400 range. Place a stop at 69.00

Here there are two sell orders. However, if the trigger for the second sell order is triggered, then by default, the whole position is closed based on these instructions.

Note that If the second trigger (which in most cases is the Dow) is set off, but the first trigger is not, then the full position should be closed.

For example, if the original instructions were to sell half of AMD in the 96 to 100 range. And to sell the second half when the Dow trades in the 34,200 to 34,400 range. Then if the Dow trades in the stated range before AMD gets to 96-100, sell the entire position