Chico's FAS Inc. (CHS)

[Porgie Tirebiter]

I don't even need to look at the chart to know it.

I kept all my CHS the last time it hit $16, and raised cash by selling a series of calls all the way down. I bought a whole lot more below $10, and this time up CHS is a big bulge in my portfolio, so I have to trim down my holdings, no matter whether I think it may go higher.

CHS's P/E is approaching 20. I'll take some of that money and put it in my other retailer (WAG) which has been beaten up badly lately. It's P/E is down to 11. WAG is on track to raise the dividend by at least 3¢ in August, which will produce an effective yield of almost 3.2% at the current price, or more than double what that same money would get if I left it in CHS.

Don't get me wrong, I like CHS a lot and will continue to hold a significant number of shares. But re-balancing is important.