ACTION:
Take profits and sell to close Limelight Networks (LLNW) at current levels.
Dear Momentum Stocks Weekly Subscriber,
I have a Profit Alert on one of the current trades in the Momentum Stocks Weekly portfolio. Although the gains aren’t massive, taking a profit is always better than taking a loss.
I’m still bullish on the stock, but I may try to maximize our profits with call options if I decide to re-enter a position. Shares are on the verge of a breakout but still need to clear resistance at $3.25. If not, there could be a back test to $3.
Limelight Networks (LLNW, $3.18, up $0.08) stock trade
Original Entry Price: $3.00 (6/9/14)
Lowered Price from Selling Options: None
Exit Target: $5
Return: 6%
Stop Target: $1
Take profits and sell to close Limelight Networks (LLNW) at current levels.
After much debate, I have decided to close this trade for a slight profit. Shares have traded to a high of $3.24 today and came within a penny of a fresh 52-week peak.
I’m still bullish on the stock, and I may use call options to play the breakout. I can use the proceeds from this trade to establish another position.
If I do establish a new position, I will send out a Trade Alert. For now, I’m taking profits and sitting on the sidelines.
All prices given in this update are current as of 3:00 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