Dear Momentum Stocks Weekly Subscriber,
I have additional trade updates this morning for our positions in FLEX. Shares traded to another 52-week high yesterday, but I’m raising our Stop Limits to protect profits.
Flextronics (FLEX, $12.65, up $0.27)
Original Entry Price: $12.24 (3/2/15)
Lowered Price from Selling Options: None
Exit Target: $15.00
Return: 4%
Stop Target: $12.35, raise to $12.45 (Stop Limit)
FLEX July 13 calls (FLEX150717C00013000, $0.60, flat)
Entry Price: $0.50 (3/2/2015)
Exit Target: $1.00
Return: 20%
Stop Target: $0.51, raise to $0.54 (Stop Limit)
Action: Raise the Stop Limit from $12.35 to $12.45 on the stock position. The low on FLEX yesterday was $12.60.
Also, raise the Stop Limit from $0.51 to $0.54 on the FLEX July 13 calls.
Shares traded to another 52-week high of $12.78 yesterday. A close above $12.75 keeps $13-$14 in play. Support is at $12.50, and a dip below this level could trigger the Stop Limits.
All prices given in this update are current as 8:00 a.m. EST.
Every new Momentum Stocks Weekly recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.
Trade on!
Rick Rouse
Editor
Momentum Stocks Weekly