Dear Momentum Stocks Weekly Subscriber,
I have updates on three of the current trades in the portfolio. I want to reduce our exposure if there is continued market weakness into the weekend.
TiVo (TIVO, $11.25, down $0.06)
Original Entry Price: $11 (4/7/15)
Lowered Price from Selling Options: None
Exit Target: $12-$13
Return: 2%
Stop Target: $10, raise to $11.10 (Stop Limit)
Action: Raise the Stop Target from $10 to $11.10 and make it a Stop Limit.
Shares have tested $11.18 over the past two sessions.
Rigel Pharmaceuticals (RIGL, $4.54, down $0.11)
Original Entry Price: $3.72 (3/10/15)
Lowered Price from Selling Options: None
Exit Target: $6
Return: 22%
Stop Target: $4.25, raise to $4.40 (Stop Limit)
Action: Raise the Stop Limit from $4.25 to $4.40.
Monday’s high reached $5.20 before a nasty backtest to $4.47. Support at $4.50 was slightly stretched and was tested again on Tuesday’s trip to $4.52. Wednesday’s low also reached $4.50.
Dot Hill Systems (HILL, $6.40, down $0.21)
Original Entry Price: $4.25 (3/4/15)
Lowered Price from Selling Options: None
Exit Target: $5-$7
Return: 51%
Stop Target: $6.15, raise to $6.30 (Stop Limit)
Action: Raise the Stop Limit from $6.15 to $6.30.
Yesterday’s low was $6.37.
All prices given in this update are current as 8:30 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