Bookkeeping: Closing CNInsure (CISG) for Now

Much like E-House Holdings (EJ), CNInsure (CISG) is a stock that appears to have all the right fundamentals, but speculators are too busy chasing the latest solar stock to care.  The stock has been been range bound for months on end.   Eventually I expect it to break out, but for now I am going to sell off the last tiny piece (0.1% exposure) and like EJ, watch it with 1 eye to reintroduce to the portfolio when it's building a sustainable move.  We sold most of what we had left about 6 weeks ago at just about the same price we see today.

For now, it simply jumps up and down (and around) the 50 day moving average, constantly causing head fakes for someone who prefer to buy breakouts.  With so many other names recently added, this is an obvious candidate to go on hiatus.

[Aug 27, 2009: CNinsure Report Solid but Many Acquisition Costs/Benefits Running Through Numbers]
[Aug 24, 2009: CNinsure - China's Version of Prudential?]

No position