What's Working: Closing Out a Short Play By Daniel Dicker About this article: Welcome to "What's Working," a quick look at how Dan Dicker is playing this tumultuous market. I knew I had taken off my Alpine Total Dynamic Dividend Fund vs. SPDR Trust shorts too soon! Although I had sold these at a 17%-plus premium, as I had outlined in a previous "What's Working" column, I also recommended and took off 75% of this position last week when the premium had come down to 14%. Now, of course, we are at a 6% discount, which makes the remaining 25% of the position worth 4 times more than the profits we've already booked. Of course, this was helped a lot by the announcement by Alpine of a distribution reduction from 18 cents a share to 12, and you also needed to wait out the distribution ex-dividend date on the short side, always a difficult and gutsy thing to do.... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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