Position Updates and Gauges for Trading on 3/5/2015

Mish Schneider | March 4, 2015

***GLPI Raised Sell Stop 32.07

***PM Raised stop 81.57

***Lower STT Sell Stop to 73.47 and expect another adjustment tomorrow

***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: 10.84

***Raised Breakeven Stop: 10.50

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

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Existing Position: Long PM 82.99 ATR 1.14

Name of Instrument: Philip Morris International Inc

Sell Stop: 81.57

Current Price: 82.17

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

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Existing Position: GLPI: Long 33.35 ATR .60

Name of Instrument: Gaming and Leisure Properties Inc.

Current Price: 33.61

***Raised Sell Stop 32.07 (following the 50 DMA)

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: STT: Long: 76.50 ATR: 1.57

Name of Instrument: State Street Corp

Current Price: 75.13

***Lowered Sell Stop: 73.47

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

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New Position: Long SLB 85.00 ATR 1.73

Name of Instrument: Schlumberger Ltd

Current Price: 85.13

Sell Stop: 83.04

Reason For Trade: Confirming a Recovery Phase with a really good risk to under recent lows. If can clear 86.20, the January 6-month Calendar Range, then we have a really good momentum play. Like the risk/reward especially since also holding the 200 week moving average and the 80 month moving average.

First Profit Target for ½: 87.57

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