Position Updates & Gauges for Trading on 12/30/2014

Mish Schneider | December 30, 2014

***NOTE: We now have 2 ATRs in KRE so we can use swing rules and raise stop now to no loss 40.15 but I am going to raise it instead to 39.94


Existing Position: Long ½ SUNE 19.46 ATR 1.00

Name of Instrument: SunEdison Inc.

Sell Stop: 17.93

Current Price: 19.80

Reason For Trade: Tested and held the 50 DMA with three higher lows over the last 2 months. Over the 80 month moving average this year since 2008. Recently tested and held the 65 week moving average as well. Over the 200 DMA or 19.96 will look to add the other ½

First Profit Target: 22.37 for 1/2

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Existing Position: KRE: Long 40.15 ATR: .89 Full Position

Name of Instrument: SPDR S&P Regional Bank

Raised***Sell Stop: 39.94

Current Price: 41.18

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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