3:15pm (EST)
We have action to take on a trade in our Weekly Wrap newsletter that returned us 41%. We got into the stock at $4.95 in early December and shares recently traded to a high of $9.74. We have been adjusting our stop up to lock-in profits and with today’s widespread market selloff, our stop limit has triggered.
Our Track Record for the Weekly Wrap is now 8-1 for 2014, 93-8 over a 3-year period.
Subscribers, check the Members Area/ Weekly Wrap Premium section for the update and stay close to your email inboxes into the close in case we have additional Profit Alerts or possible New Trades!
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Ariad Pharmaceuticals (ARIA, $6.83, down $0.56) Stock Trade
Original Entry Price: $4.95 (10/25/13)
Lowered Price from Selling Options: $4.95
Exit Target: $8-$10
Return: 41%
Stop Target: $7 (Stop Limit)
Action: Shares have hit our Stop Limit target of $7. The stock opened at $7.26 and kissed $7.30 before fading to a low of $6.70 today. We will look for another entry point for Ariad as we still like this stock for the longer-term.