Position Updates & Gauges for Trading on 7/8/2014

Mish Schneider | July 7, 2014

Existing Position: KRE: Long 40.33 ATR .65

Name of Instrument: SPDR S&P Regional Bank

Sell Stop: 38.87 (about 2 1/2 ATRs)

Current Price: 40.72

Reason For Trade: Great basing action over the major moving averages. Long term trade with $4.00 move probable to start

First Target: 42.24 for 1/3

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Existing Position: Long ½ TAN 40.30 ATR 1.05

Name of Instrument: (ARCX) Guggenheim Solar Energy

Current Price: 43.18

Trailing Stop: 40.94

Reason For Trade: After a slingshot low May 21st, been compressing over the 200 DMA. June 11ths bullish engulfing pattern gave us a unique risk of only 1.5 ATRs to under the 200 DMA as solar stocks firmed on a weak day in the overall market

REACHED!!! First Target: 43.29 for ½

***Second Target: 46.00 for another 1/2

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Existing Position: Long 2/3 OI 33.51 ATR .43

Name of Instrument: Owens-Illinois

Current Price: 34.77

Breakeven stop: 33.51

Reason For Trade: Clears chart point since mid-April. Over 80 month moving average. Potential to 38 or better

***First Target: SOLD 34.54 for 1/3

****Second Target: 35.50 for another 1/3 off

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