EXLS (EXL Service Holdings Inc)

The stock debuted in October being offered at $14 and closing its first day at the high end of its range near 19.00. Trading continued to be positive through mid-November reaching a high of 29.24 at the peak (a day which marked a reversal closing down on the day). The stock pulled all the way back to 20.50 where it appears to be making a stand.

On Dec 18th a day after the stock traded up in volume, I was only able to buy 2,345 shares as the market was fairly thin for the stock. The position is less than 1% of the portfolio which is smaller than I would like to take, but liquidity was scarce. Furthermore, the next day the stock was weaker instead of following through higher as I would have expected so I held the position as is until I get better clarity on the situation.

Jan 18, 2007

The stock has traded up but in relatively weak fashion. There seems to be some resistance at the previous high (22.89) and today the overall market is giving up some of its recent gains so I put in an order and sold my shares at 22.81 which is a decent gain although it was a very small position.