This is a reminder that everyone should be out of the American Capital (ACAS, $11.97, down $0.09) trade as shares have dropped below $12 today. We had a Hard Stop in place to protect our profits and we would rather move on instead of watching shares test support.
This gets our Track Record for the year to 28-0 for the Weekly Wrap and 44-0 overall since we started the newsletter just 2 years ago. We have room to add up to 5 new trades for our Weekly and we are hoping January provides us a good opportunity to pick up some good stocks at cheaper prices. We still like American Capital for the long-term and we will keep it on our Watch List if we see another opportunity to add the stock to our portfolio.
Subscribers, check the Weekly Wrap Premium section for the update and we will be back shortly with the midday Daily report.