Long STX at $11.00 Target $12.50

Another swing trade in a overall downtrend. STX is at it's 52wk low. I made a big profit riding STX from $5 to $17 out of the 2009 crisis. . If the downtrend continues, this will just be a short term trading trying to get the bounce off the bollinger band back to the overall trend. The candles seem to be showing some support right on $11.

Long RSG at $29.50 Target $32.00

Trading in an uptrend within channel. Buying on bollinger band penetration. Little bit worried about the green EMC crossing the purple, but the sellout last week on the poor economic news I think was unjustified for this stock and I'm hoping for the bounce.

Long HLX at $9.50 Target $10.25

Short term swing trade off weak downtrend back up to EMA.

CPLP Drop off due to dividend payout

Here is the dropoff due to the CPLP dividend payout that I spoke about in yesterdays post. I was seconds too late selling at the $9.20 high on Monday, but got out yesterday at $9.12.

Although I'll miss the dividend due to the record date being August 6, taking $1.12 profit per share by banking my trading profit exceeds the $0.25 per share dividend that I'm missing this quarter.

Action to take: Let the dust settle, then buy back in under $8 if possible (see the chart in yesterdays post).

Aim to make $1 per share profit within the next quarter. If you don't get the timing right, buy and hold for the dividend income. It's still a good income stock - Supertankers need to be kept running, and the world still needs oil.

Sold CPLP at $9.12. Stock will drop once the dividend is announced next week. 25% profit incl. dividends over 9 months.

Although I like CPLP a lot as a company, I'm taking some profit off the table here.  I may buy back in once the dividend is paid and CPLP drops back to my buy zone between $7 and $8. This stock is quite cyclic due to the generous dividend payouts, so there is good potential to make more money trading the cycles than holding it for the dividend. Especially as my broker doesn't offer DRIP on this stock. The quarterly dividends are marked below with a D in the chart below. Notice how close the price bars come to the bollinger bands before it drops back around the time the dividend is paid. Although right now is a bullish uptrend, its trading  right on the bollinger band and my prediction is that the quarterly pullback will follow in the next ten or less trading days.

The buy back point is where the candles intersect the lower bollinger band, approx 2-4 weeks after the dividend is paid.

Sold HLX at $10.54. 10% profit in 3 days.

Not letting this one sit on the table. 10% profit in 3 days.