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.