CAPS and real-life portfolio rebalancing continues. Today I was happy to close my IBN pick, winning my 5 points. I have vowed to get rid of all foreign stocks with a single exception for Airstrip One (a category into which I also, politically incorrectly, include AIB and IRE), and so I happily took a small profit on IBN and said good-bye to it. I have nothing but admiration for IBN as a company, it's an excellent bank in an excellent country, but I cannot hold in this market because it's a foreign stock. I had to exit it because the only way to play this game that makes sense to me is by going long USA and shorting everything else. I still have a few foreign picks that I've been unable to close because they're underwater, but I have no doubt that sooner or later the natural market volatility will provide me with a suitable exit point for most of them.