Time to Tighten Some Stops & take Some Money Off The Table

I think today was a definitive move to the downside. Based on the outcome of today’s trading session, I am up 34% on my trades. While I expect tomorrow will be another down day, I think that its time to consider taking some of the profits off the table so it can be divvied up between my wife and the tax man :-)

Below is a screenshot of my current trades.



I don’t intend on closing out any of these positions, partially when my expectation for tomorrow is another down day. However, I will be using much more aggressive stops for many of the trades. Sure I could squeeze some additional points, but as the market has shown me a few times this week, things can change very quickly.

As usual, below are the adjustments that I made to my current trades. I have adjusted them to lock in profits and/or minimize possible losses.

.QAATY – Changed to 55.24
.BNITO – Changed to 73.65 – My profit target for BNI was 72.25. It surpassed that level today. I am going to use today’s open as my stop.
.DVNTL – Changed to 61.80. This stock has held its ground pretty well in light of recent days. I have not seen the move that I was anticipating. Given the oil hysteria and what is going on in the Middle East, I am not totally surprised.
.DOTQ – Change to 78.50 - My profit target for DO was 78.50. That is where I will set my stop loss.
.EOGTN – Change to 71.30 – Like BNI, it is another Energy/Oil & Gas stock that has held its ground.
.ETTX – Changed to 20.98 – I have doubled my money on this trade so far. My profit target for ET is 20.98. I expect this stock to drop to its long term trend line.
.QMHTK – Changed to 52.80. My profit target for HWAY is 46.27. It has a long way to go.
.LSSTL – Changed to 54.50
.MLMTR – Changed to 82.60 – I have doubled my money on this trade so far. It is still dropping like a rock. My profit target is 77.15.
.NXYUK – Changed to 55.63 – I didn’t stop out today. I am surprised.
.NYXUK – Changed to 66.13 – For a mistake, things are going OK.
.AAOHH & AAOTU – Straddle Play. Stock broke through its long tern trend line today. I should probably exit the call, but I want to see how the numbers work.
.RIGTQ – Changed to 80.33 – Nice drop today, broke through its 30DMA.
.TRNTH – Changed to 36.15 – Turning out to be a great trade. My profit target for TRN is 30.39.
.UNPTR – Changed to 88.14 – It go a little stuck there, but appears to be making its move now. My profit target for UNP is 84.77.
.XBTTF – Hold @ 60.15 - S&P Energy Fund just will not budge.
.THQVG – Changed to 33.16. It appeared stuck at the upper limit of its trading range for a bit, but is starting to weaken now. I will exit in the coming days. I don’t think I will ride this one through earnings.

The best thing about posting this blog tonight is that I don’t have to get up at 5am tomorrow to do it! I think that I am going to sleep in an extra hour… Yeaaa!

For anyone reading this, just remember that this is my personal trading journal. I do not recommend that you enter any of these trades or do anything that I choose to do. Theses trades and stops are based on my own analysis and conclusions. I recommend that you conduct your analysis, come to your own conclusions and get professional advice from qualified professionals persons before making any investment decisions. I am no way near qualified to make such recommendations.

Good Luck - David