Position Updates & Gauges for Trading on 12/22/2014

Mish Schneider | December 21, 2014

**Note: With last week’s rally, there are several longer term trades setting up I am interested in. Given the short week, expect 1-2 trades on Monday if they set up. Two possible entries are in solar either the ETF or one of the solar stocks with great risk and adding to KRE-the other ½. I am also watching GERN over 3.35


Existing Position: KRE: Long 1/2 position 40.04 ATR: .73

Name of Instrument: SPDR S&P Regional Bank

***Lowered Sell Stop: 38.34

Current Price: 40.15

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

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