As I mentioned in my last Weekly Update, I’ve been watching for the right opportunity to rotate out of a few names on our Buy List before the end of 2014, and today’s action is giving us an excellent opening to do just that.

First up is First Bancorp (FBP), a trade that played out exactly as we had planned. I recommended this Puerto Rican bank at the end of October when Wall Street was just starting to embrace its growth curve and shock-resistant loan book. The company’s turnaround story played out nicely over the next two months and we’ve been left with a solid double-digit return. After this recent run, it will take some time for shares to move above current levels so I recommend that we take our profits now and look to get back in later on when the rally resumes. Sell FBP.

Crown Media (CRWN) is another name that’s starting to signal some resistance is ahead. I will keep it on my radar as I believe it can eventually command a higher share price, but after bouncing nearly 10% off its November lows, the stock is due for a rest. Let’s lock in our gains now and sell CRWN.

Finally, it’s time to move on from Innovative Solutions & Support (ISSC), which is popping nicely this afternoon. Shares have struggled to regain momentum after the company’s contract to design new cockpit displays for Delta Airlines (DAL) unraveled in October, but have managed to regain some ground for us.

ISSC may take weeks, months or even years to find its natural level, so with no clear path in sight, it makes sense to sell into strength today for year-end tax purposes. Sell ISSC and apply the red ink against long- or short-term capital gains you have racked up over the last 12 months.

As always, please sell your positions slowly and in stages so as not to cause a sharp price swing.

I’m watching a few potential new names to rotate our gains into, so keep an eye on your inbox in the coming days for my next Flash Alert as we may get an opportunity to move on them.