2019-02-21
This trade idea came to from reading Investors Business Daily IBD Weekly Vol 35 NO 46 Week of Feburary 18, 2019. It was featured in IBD50 and it was ranked #24. I added this to my watch list on Sunday. Monday the market was closed for Presidents Day and opened again on Tuesday. Tuesday it stared to move on good volume
I placed a market order for 100 shares after dipping a little at the open and got a decent fill. There are a couple of warning signs. This is a thinly traded company and earnings are being announced soon. This Day 2 of a 7 Trading Day Time Stop
I got filled at $43.01
-5% stop = $40.80
20% Target = $51.53
IBD Rankings 02/21/19
Composite Rating: 99
EPS Rating: 94
RS Rating: 94
Group RS Rating: A+
SMR Rating: A
Acc/Dis Rating: B-
ROE: 41.1%
Debt: 0%
Outstanding Shares: 14.4m
EPS Due Date: 2/26/19
Dr Alexander has a triple screen for viewing charts and Trading for a Living is why I use the following charts
2019-02-27
I closed my position today, because of a stop loss.
I had been up $250 (5-6%) and went down $200 in the past 2 days.
The first drop came yesterday. When the earnings date got moved it dropped 5% that day, but it was on about 63% volume. It was close just under my break even level and I held my ground hoping for a bounce.
It did not come today and in fact it dropped even worse. It opened down and a sold a little after 9 CST. It happened to be close to the high of the day.
I got filled at 40.82
43.01 - 40.82 = -2.19 / 43.01 = -5.1% in 6 Trading Days
