I’m going to sell two more stocks today as I continue to whittle down my number of longs and get a little more defensive.

First up is Ambarella. We’ve owned this stock for several years and we have overall made some great money on it even as we obviously should have sold all of it instead of just part of it at $120 when it peaked. The company’s had some execution stumbles and while I might revisit this name sometime next year, I’m going to go ahead and remove it for now.

Second is Impinj, which is pretty much our only big loser in 2017. It’s down 30% from our initial purchase price and I’m going to go ahead and take some losses on this one before the year end, not just because I want to lock in some losses to offset a small part of our locked-in profits from this year, but also because I want to step back from this name and re-analyze it from the outside in a month or two.

I’ve got a Latest Positions Update with new analysis and ratings and even including my expectations for each of our positions in 2018 and also where I’d nibble on more of each of our stocks coming out later today so stay tuned for that.