We are closing our short positon in 3D Systems
For reasons enumerated in today’s issue of Smart Tech 50 Weekly Movers, today we are closing out our short sell recommendation in 3D Systems (NSDQ: DDD). Back in January we featured it as our best short sale idea when it rose above $90, and now that it is below $60 we think it is time to take our profits and look elsewhere. And even if you shorted it at $80 when we first added it to our Equity Trades portfolio in December, we will gladly book at 30% profit in just three months (however, if you choose to leave your position open please be advised that the stock has substantial price support at $50, which is only 15% below where it is trading today so there is not a lot of “upside” potential left in this trade). This is our first “round-trip” portfolio recommendation since we launched STI 100 days ago, and we are proud to have the first one work out to annualized gain in excess of 100%!