Trading Alerts

Today was a bad day for trading, but as I told everybody to take some money off the table Sunday, after the boomlet which closed last week, I followed through today.

Data on the ADR and UK trades follows for below:

*Half the Schlumberger Ltd. position was sold at $102. SLB is a Dutch firm in oil and gas wellhead drilling services.  We sold because it has to pull out of contracts with Russia over Siberian gas and Arctic exploration, because of Western sanctions.

*Liberty Global Media, John Malone's European cable play, LBTYA, was sold at $44. It is British. I have been terrified of the wild way Malone has been

*I sold Coca Cola Hellenic Bottling, the mostly Eastern European coke arm of Coke whose ADR was recently withdrawn. I sold UK shares at GBP 13.75 per. I do not yet know how much this represents in US$s. CCH used to be a Greek-incorporated firm with an ADR, but it moved its HQ to Zug, Switzerland and its primary listing to London. The excuse is that Northern Ireland, part of the UK, is one of the markets served by this bottler. Then it withdrew the ADR. While I am prepared to deal in the UK for wild ideas I am less happy with a major holding there.

Disclosure: None

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