Bookkeeping: Closing Insituform Technologies (INSU)

"I've given her all she's got captain, and I can't give her no more."

This has been our 2nd attempt with Insituform Technologies (INSU) and it has turned out much like the first attempt - not so well.  In theory this is a nice way to play stimulus funds to help the nation's sagging water infrastructure (sewers for example) but it appears almost all our stimulus money is going to things that have little to do with actual stimulus.  So this thesis has not worked out for us one bit.

I have been mulling cutting this smallish position for a week, and I am just tired of the performance - today's action marks the 8th day out of the past 9 it has been negative.  That sounds worse than it is, because it's a "slow money" stock - not very volatile; so it's more of a grinding torture.  The "breakout" in early December, led to nothing.

We'll take our 6% loss on the 0.6% exposure and go home.

No position