ACTION:
Take profits and sell to close AT&T (T) at current levels.
Dear Momentum Stocks Weekly Subscriber,
I have another Profit Alert for the Momentum Stocks Weekly portfolio. The trade has been open since December and, while I continue to like the stock, I want to reduce our exposure risk to a possible market pullback.
I can also use the proceeds to move on to faster-moving plays, if current market support holds, as there are a few candidates I like.
I could add new positions this week once today’s dust settles, but, for now, let’s ring the register on another winning trade.
AT&T (T, $34.47, down $0.17)
Original Entry Price: $33.88 (12/5/14)
Lowered Price from dividends/selling options: $33.60
Exit Target: $40
Return: 3%
Stop Target: $34.15 (Stop Limit)
Current Dividend Yield: 5.5%
Take profits and sell to close AT&T (T) at current levels.
Monday’s low reached $34.21, which nearly triggered our Stop Limit. I might revisit AT&T if and when shares clear $35.
All prices given in this update are current as of 2:45 p.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