ACTION:
Take profits and sell to close BlackBerry (BBRY) at current levels.
Dear Momentum Stocks Weekly Subscriber,
I have another Profit Alert following a downgrade to one of the stocks in the Momentum Stocks Weekly portfolio. The trade still made a slight profit, but I want to close the position in case there is further weakness.
BlackBerry (BBRY, $9.96, down $0.71)
Original Entry Price: $10.03 (1/29/15)
Lowered Price from Selling Options: $9.79
Exit Target: $12+
Return: 2%
Stop Target: $10.40 (Stop Limit)
Take profits and sell to close BlackBerry (BBRY) at current levels. The Stop Limit of $10.40 failed to trigger this morning so I’m closing the trade at current levels.
Goldman Sachs (GS) downgraded the stock to “Sell” from “Neutral” after questioning the company’s turnaround plan. The firm lowered its Price Target from $10 to $9.
Shares opened at $10.23 and have only traded to a high of $10.37. Instead of debating Goldman’s questionable downgrade, I’m closing the trade at current levels to reassess the situation.
All prices given in this update are current as 11:55 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