I booked gains in CLR today at $116.88 for a 4% gain. I probably could have been more patient with it into the close, but at the end of the day, I make it a habit not to worry about leaving a percentage or two on the table. I judge whether I should continue to hold a stock or not based on risk.
If the risk is beyond my level of tolerance, I will get out of the trade and CLR clearly became that for me today.
Remember, trading has little to do with being a good stock picker and everything to do with managing risk – even at the expense of not always squeezing every cent out of a trade.
So if you want to learn to trade stocks in a manner that will allow for your to be consistently profitable, then sign up for the SharePlanner Splash Zone’s Free 7-Day Trial by clicking here.
Here’s tonight’s trade setups:
Long SunPower (SPWR)
Long Pioneer Natural Resources (PXD)
Long Noble Energy (NBL)
Short FirstMerit (FMER)
Short Helix Energy Solutions (HLX)
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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