ACTIONS:
The Stop Limit of $4.40 has triggered on Rigel Pharmaceuticals (RIGL) common stock.
The Stop Limit of $6.30 has triggered on Dot Hill Systems (HILL) common stock.
Dear Momentum Stocks Weekly Subscriber,
Two of the Stop Limits we adjusted this morning have triggered in today’s overall market weakness. The good news is that we locked in gains of 18% and 48% in less than two months.
I will keep both names on my Watch List, as I do see higher prices ahead for both stocks. However, support needs to hold, and we will sit on the sidelines until a re-entry point emerges.
Rigel Pharmaceuticals (RIGL, $4.41, down $0.13)
Original Entry Price: $3.72 (3/10/15)
Lowered Price from Selling Options: None
Exit Target: $6
Return: 18%
Stop Target: $4.40 (Stop Limit)
The Stop Limit of $4.40 has triggered, and we are now out of the trade. That level has also been today’s low.
Dot Hill Systems (HILL, $6.29, down $0.11)
Original Entry Price: $4.25 (3/4/15)
Lowered Price from Selling Options: None
Exit Target: $5-$7
Return: 48%
Stop Target: $6.30 (Stop Limit)
The Stop Limit of $6.30 has triggered, and we are now out of the trade. The $6.30 level was breached on today’s test to $6.27.
All prices given in this update are current as 12:25 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