Position Updates and Gauges for Trading on 2/27/2015

Mish Schneider | February 26, 2015

****NOTE: Lower Sell Stop STT: to Original stop 73.40 to give it room

***CANCEL BUY STOP ORDER : SLB til further notice

***NOTE on Sell Stops: From now on, will use a 2 minute time confirm on our sell stops. That means the instrument has to trade at or below the price for 2 consecutive minutes. If cannot use time confirms, subtract another 10% of the ATR then place your stop.


Existing Position: Long BBRY 10.50 ATR: .23

Name of Instrument: Blackberry Ltd.

Current Price: 10.76

***Raised Sell Stop: 10.17

Reason For Trade: Cleared converging moving averages with huge volume. A 2015 focus pick as its software is takeover material for many companies who wish a more secure phone system as Blackberry is used by the famous who do not want their calls hacked. BlackBerry announced Wednesday, 2/25/15, it is working with Google to enable BES12, a cross-platform EMM solution by BlackBerry to manage devices equipped with Android.

First Profit Target: 11.19 for ½ off


Existing Position: Long PM 82.99 ATR 1.14

Name of Instrument: Philip Morris International Inc

Sell Stop: 81.07

Current Price: 82.80

Reason for Trade: Double bottom made in with a move on the buy stop over the 50 DMA for a phase change back to recovery. On the monthly chart, this is the lower end of the range going back 3 years so like the risk.

First Profit Target: 86.33 for 1/2


Existing Position: GLPI: Long 33.35 ATR .60

Name of Instrument: Gaming and Leisure Properties Inc.

Current Price: 33.57

***Sell Stop 32.24

Reason for Trade: Reported on February 3rd which now gives trade time to mature. Cleared the 200 DMA the week prior and waited for the earnings to enter with a stop under the 200 DMA and recent daily lows.

First Profit Target ½ off: 35.07


Existing Position: STT: Long: 76.50 ATR: 1.57

Name of Instrument: State Street Corp

Current Price: 74.81

**New Sell Stop: 73.64

Reason For Trade: First visit over the 50 DMA after a slingshot low confirmed on February 2nd. Gapped higher day of entry (February 10th) after an inside day. A 2015 pick. Initial stop wide enough to give it time to mature. Weekly and monthly charts look strong.

First Profit Target: 80.94 for ½


Existing Position JNK: Long 38.96 ATR .23 ½ left

Name of Instrument: SPDR Barclays Hi Yld Bd ETF

Current Price: 39.73

**Trailing Stop Raised: 39.47

Reason For Trade: Holding the 50 DMA and clearing the January Calendar Range high. Good risk to under recent daily chart support. Also, if long treasury bonds come off, this is high yielding junk debt that could attract smart money.

***FILLED: First Profit Target: 39.54 sold ½

Second Profit Target: 39.92 for another ½ of the balance