Position Updates & Gauges for Trading on 9/5/2014

Mish Schneider | September 4, 2014

Note: Lowered stop in PM to 84.57

Exited XOP at 76.93

Existing Position: Long PM 85.80 ATR: .74

Name of Instrument: Philip Morris

***Lowered Sell Stop: 84.57

Current Price: 84.99

Reason For Trade: Confirmed Phase change to Bullish with good risk to under the 200 DMA and can move stop up if cannot clear over 85.80 later on.

First Target for ½ off: 88.24

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Exited Position: XOP

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Existing Position: Long JBLU 11.07 ATR .39

Name of Instrument: Jet Blue Airways

***Raised Sell Stop: Trailing Stop 11.97

Current Price: 12.52

Reason for Trade: After testing the 50 DMA twice, it gapped up over the 10 DMA and gave a good tight risk to below the 50 DMA. Has cleared the 6 month calendar range as well. If can hold and clear recent highs 11.59 see 12.00 or higher

First Target: Reached Sold ½ position

Second Target: 12.98 (Sell 1/2 of remaining position)

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