This was a 23 day trade with 3.47% gain.
July 12, 2011
Taking FFC modest profit on shaky market
Selling FFC because of a weakening trend and negative market influence. Two days ago green candle penetrated upper bollinger band. When this occurs and the momentum accelerates, I would hold. However, it was followed by two red candles and the big drop in the Dow yesterday. Better to take profit rather than wait and see what the market does. Missing out on the dividend, but have to wait another 10 days until dividend record date, and it is not worth the risk.
This was a 23 day trade with 3.47% gain.
This was a 23 day trade with 3.47% gain.
July 8, 2011
CPLP Sold as market softens after the rally of the last two weeks
Sold CPLP for 9.2% gain in 19 trading days. Market looks like it is softening after the rally in the last two weeks. Price dropped under the 7-day EMA (green line), and Williams and RSI indicators show uptrend has been broken.
July 7, 2011
CPLP Trade is going well - 12% in 18 days
If a trade is going well, it's time to take some profit out and put it in your pocket.
The entry was a little early - I didn't follow my recommendations in the June 3 post exactly. I only waited one day after the candle was completely inside the bollinger band, but I also only entered with a small position due to recognizing the risk was higher. Actually a good part of the timing was the fact that I went on vacation on June 13, and didn't know how much time I would have to check progress while on vacation.
In hindsight June 15 was actually the perfect entry day, when the candles straddled the 7 day average and the green line was completely flattened out.
This is what I like about trading CPLP - it is very cyclic because of the dividend, but if your timing is right you can trade the cycles to achieve a yearly dividend every quarter.
I'm now putting a stop in to exit at 9.5% profit if it drops back. If it goes higher based on promising jobs data, then let it run for a bit more. Williams R and RSI both show some weakness, so there is no certainty that it will keep going up. So if I get stopped out at this price I won't be surprised, but I won't be upset either.
The entry was a little early - I didn't follow my recommendations in the June 3 post exactly. I only waited one day after the candle was completely inside the bollinger band, but I also only entered with a small position due to recognizing the risk was higher. Actually a good part of the timing was the fact that I went on vacation on June 13, and didn't know how much time I would have to check progress while on vacation.
In hindsight June 15 was actually the perfect entry day, when the candles straddled the 7 day average and the green line was completely flattened out.
I'm quite happy to sell this right now.
In 15 days, the profit on this trade
is more than the yearly dividend
for this stock.
This is what I like about trading CPLP - it is very cyclic because of the dividend, but if your timing is right you can trade the cycles to achieve a yearly dividend every quarter.
I'm now putting a stop in to exit at 9.5% profit if it drops back. If it goes higher based on promising jobs data, then let it run for a bit more. Williams R and RSI both show some weakness, so there is no certainty that it will keep going up. So if I get stopped out at this price I won't be surprised, but I won't be upset either.
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