Position Updates and Gauges for Trading on 2/5/2015

Mish Schneider | February 4, 2015

***MOS: Raise Trailing Stop to 48.35 with a 2 minute time confirm and see added third profit target

***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.


New Position: GLPI: Long 33.35 ATR .60

Name of Instrument: Gaming and Leisure Properties Inc.

Current Price: 33.57

Sell Stop 31.97 or about 2 ATRs with a 2 minute time confirm

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

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Existing Position: MOS 45.95 ATR .62 (1/8) left (Reports February 11th)

Name of Instrument: The Mosaic Company

***Trailing Stop: 48.35

Current Price: 49.46

Reason For Trade: After a significant peak bottom in mid-October, it flew past the 200 DMA and then returned to the 50 DMA. The 50 DMA has crossed above the 100 DMA. The risk is good, position small and trading in anticipation it can clear the 200 DMA. Longer term, 50.00 is the place it must clear.

Third Profit Target:
For another ½ of remaining balance 52.94

****REACHED! First Profit Target: 47.94 for ½ off

REACHED***Second Profit Target: Took ½ of the ¼ left at 48.57 ¼ remains

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Existing Position JNK: Long 38.96 ATR .23

Name of Instrument: SPDR Barclays Hi Yld Bd ETF

Sell Stop: 38.46 which is about 2 ATRs from entry

Current Price: 38.92

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.

First Profit Target: 39.54 for 1/2

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