Updated Stops on NUGT, UCO, OKS, LBS. JCP, VGR, FAZ, LNKD Stopped Out. Opened TZA.

 

We're updating sell stops again and diarizing a pair of stops that were recently triggered.  We've also added a new market short position.

 

 

NUGT is up 455% since our mid-January entry and we're raising the stop on our remaining shares once again, from $72 to $90 on an intra-day basis.  We note that if it hits $104 there could be resistance, not to mention the move is arguably overdone at this point.  NUGT closed today at $100.

 

 

UCO (ProShares Ultra Bloomberg Crude Oil) is up 78% since our mid-January entry.  Stop raised from $8.80 to $9.90 on an intra-day basis.  If this is stopped out we'll have plenty more oil exposure left over, mostly bought at or near the lows late 2015 and early 2016.

 

 

OKS (Oneok Partners LP) is among that oil exposure and is up 58% including dividends since our mid-January entry.  Stop raised from $31.00 to $32.50 on an intra-day basis.  We'd like to keep the 13.9% dividend coming in for as long as possible, but do not wish to be holding too many oil-related positions and losing large capital "paper" gains in case of a protracted stock market drop which is long overdue. 

 

 

LBS (Brompton Life & Banc Split Corp.) has been a holding of ours for nearly 4 years now, and it has paid a 24% annual dividend (based on our entry price circa $5 and a "Return Of Capital" of $1.20/annum, paid as $0.10 monthly).  At its highs it was up 132% from our entry (trading above $11 last year) and is currently up 60% plus has paid nearly 100% back via its generous monthly return of capital.

We'll raise the recent stop level set at $6.80 to $7.80  an on intra-day basis, the idea being that if markets suffer a protracted drop we'll sell out at a prudent stop level then probably buy back in at a lower price. 

 

VGR we'd also owned for years, as first diarized in August 2013.  Since that posting almost three years ago, it's up roughly 26% and has paid 9.5% per annum cash dividends as well as an additional 5% per annum shares dividend.

We did reduce some of our VGR position almost a year later, as detailed in this post - selling CWA +49%, reducing VGR +25%

We recently set a stop on VGR at $20.90 on an intra-day basis.  As with LBS the idea is that if markets suffer a protracted drop we'll perhaps buy back in later at a lower price. The stop was triggered last Friday for a gain of 23% on the stock plus about 42% worth of dividends in cash and shares. 

 

 

JCP (JC Penney) rose as much as 24% higher after our late-January entry.  The stop was recently raised to $9.20 on an intra-day basis, which was triggered earlier this week for a gain of 10% 

 

 

In early April we opened a long position in FAZ (Direxion Financial Bear 3x), which is a levered short on financials.  We set an initial stop at $41 on an intra-day basis which was triggered just a week later for a loss of 6.4%

 

 

We still have VXX (iPath S&P 500 VIX Short Term Futures) as a market hedge and short. 

 

 

During today's session we added TZA (Direxion Small Cap Bear 3X) and will hold it above $37.50 on an intra-day basis.   

 

 

We also shorted LinkedIn Corp. (LNKD) in early April.  That didn't work out and last week our $119.50 intra-day stop was triggered for a loss of 4.7%

 

In tonight's after-market trading LNKD is up roughly $10 on improved earnings guidance.  It may burst higher on this sentiment but should prove a profitable short eventually.  

 

 

 

 

 

 

 



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