Tuesday, 29 January 2008

Cutting out of Intercontinental Hotels for flat

Back on January 7th, I'd bought some London listed Intercontinental Hotels (IHG.L)

As you can see from the chart, at the time, my 772p entry level looked pretty good. However, within a few days the stock had dropped all the way to 612p!!! Now, to maximise P+L, I think it's important to get good entry levels on trades, so I've cut out for flat, and I'll wait for another huge equity puke to pick some up again. I still think global hotel chains can make good profits, they seem to be growing sensibly and still have plenty spots across the world to get into. For example, IHG are looking at franchising Holiday Inn in China. So...waiting for a better entry.

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