***New Position: KRE: Long 1/2 position
New Position: KRE: Long 1/2 position 40.04 ATR: .73
Name of Instrument: SPDR S&P Regional Bank
Sell Stop: 38.49
Current Price: 40.83
Reason For Trade: Unfortunate that from our original position, I had raised the sell stop and we got blipped out while we were on vacation. Therefore, I took advantage of the dip early Tuesday, December 9th morning to buy back ½ of what we had for the same reasons we were first long: In an Accumulation Phase with the 10 DMA approaching a cross over the 200 DMA. Stop below the 50 DMA gives room for trade to mature. It crossed the 65-week moving average the last week of October and a trendline break from the 2014 highs after a substantial correction earlier in the month.
First Profit Target: Sell ½ 42.24