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Jul 23

Exiting Long Computer Task Group ($CTG)

One exit signal for our equity portfolio tonight after $CTG endured an absolutely brutal session sliding 24% today. We had already been well ahead in the stock but as of today’s close we’re now showing a loss of 10.6%. When it’s over, it’s over. We’ll take our punishment and exit at tomorrow’s open.

Computer Task Group ($CTG) -10.6% (incl 3/19 div $0.05, 6/11 div $0.05.) Original 2/6 entry post here.

(Ticker changed from $CTGX to $CTG)

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2 comments

  1. cwntrader

    What patterns do you look for in order to increase your stop? Do you look to see how price reacts to previous resistance levels in hope they become support? Looking at CTG, it would have been hard for me to handle the drop in mid-late April, but I am looking at it and thinking “hey it just broke through February lows”.

    1. Jon Boorman

      Yes, once a stock moves higher you’re looking for it to consolidate and form a new base before moving on again, then that area becomes support a break of which can signify an end to the trend. In April we were still using the initial stop of $18.46-$18.55, you can see it still marked on there. Before the final drop we hadn’t quite been able to move our stop up to that $24 area, so it was still at $22.97-$22.66, but it in the end it was irrelevant as it gapped below it, and ironically meant we got out at the next open near our initial stop level.

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