[from the Portfolio Updates section of today’s edition of Smart Tech 50 Weekly Movers]

Although our first two short sell recommendations have turned out very well, going forward we will no longer be including short sells as a regular component of our Equity Trades Portfolio. Few investors actually engage in these types of transactions, and they carry more risk than a conventional buy recommendation if employed incorrectly.

For that reason we are closing out the only two remaining short sell recommendations in our portfolio, Facebook (NSDQ: FB) and Netflix (NSDQ: NFLX). This is an opportune time to do so as both of them are currently trading above their respective Stop Loss limits so those positions are not presently open. Sooner or later the momentum stocks will have their day of reckoning, so if you are short either one of these companies then it should be only a matter of time until our opinion of them is vindicated.

And to make room for some of Rob’s new picks we are going to close out our long position in EMC Corp (NYSE: EMC), which is currently a ‘hold’ since it is trading so far above our buy limit. We first recommended EMC on December 16^th when it closed at $23.61; now trading at over $29, it represents a 25% gain in just eight months!

Finally, we are also closing out the other ‘hold’ position in the Equity Trades Portfolio. We’ve had a very nice run with Lenovo Group (OTC: LNVGY), but it too is trading far above our current buy limit so most of the short term opportunity for gain has been realized. We first recommended Lenovo on February 24^th when it closed at $19.93; it is now priced at over $28 for a 40% profit in only six months!