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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