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Oct 07

Exiting Long LinkedIn ($LNKD)

We got an exit signal in LinkedIn at the close which we’ll be executing at Tuesday’s open. As of Monday’s close we were up 25.6% on the position.

LinkedIn ($LNKD) 7/5 +25.6%

$LNKD has been good to us this year. Two trades with an average return of over 30%, held through 3 earnings announcements. Much longer-term this still has the appearance of being a consolidation, and it may well be that it goes on to make new highs, but shorter-term it looks as if it’s really starting to struggle. We have to acknowledge it’s essentially gone nowhere in 8 weeks. It absorbed a huge secondary very well within that time, but perhaps it’s now feeling the weight of that, having just made a 5-week low, closing today below our trailing stop. Should it set up again we’ll happily climb aboard for a third time, but for now we’ll take our profit and step aside.

AlphaCapture

 

 

 

 

 

3 comments

  1. Adam

    Got shaken out eh? (I KID I KID!)

    Not often you close out two big winners two days in a row. Possibly a sign of a change in market temperment.

    1. Jon Boorman

      :-) certainly ‘feels’ that way, but we’ve negotiated similar circumstances several times already this year so we’ll take it day by day.

  2. John M

    LOL Jon. You are funny. In todays sell off you are out of almost all of your stocks then LOL. You got to book profits. 190 to 250 on LNKD was a nice nice trade. 100 to 170/180/190 on TSLA a huge winner. FB say from 40 to parabolic 50 you get out. KORS say from 55 to 75 man nice 20 pts.

    You book winners when they have run too big. Sometimes you miss another run but nobody went broke or break even booking profits.

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