In a week where most of our holdings continued or resumed their uptrends as the market soared to all time highs, we did still have one casualty with CIGNA Corp ($CI) breaking back below recent support to trigger an exit signal, which we’ll execute at Monday’s open. As of Friday’s close we were losing 6.7% on the position.
CIGNA Corp ($CI) -6.7%. Original 9/5 entry post here.
The biggest surprise here was that $CI survived this long after its 2-day downdraft 4 weeks ago. Despite the market weakness that followed it started to hold up relatively well, and only as the market moved higher again it resumed lower with a big break of support and our stop on Friday. That’s confirmation for us to exit and move on.