We got 5 more trailing stops hit at the close today which we’ll exit at Thursday’s open. As of today’s close they had the following returns:- $MCHP +8.4%, $LMT +15.4%, $DDD +1.0%, $FLT +18.3%, $PRLB +11.3%.
Here are the signals:-
Microchip Technology ($MCHP) +8.4% (incl 5/16 div $0.353, 8/18 div $0.354). Original 3/5 entry post here.
Given the length of time we’ve held this, it hasn’t been that great a performer and it’s been fairly volatile along the way, so although this is only a marginal break of our trailing stop I’m happy to step aside and move on.
Lockheed Martin ($LMT) +15.4% (incl 8/28 div $1.15). Original 6/12 entry post here.
After threatening to breach our stop last week, $LMT has held up relatively well in this week’s market selloff, but today’s break, although marginal is still enough to trigger our exit here.
3D Systems ($DDD) +1.0%. Original 7/11 entry post here.
$DDD took a long time to fulfill the potential its breakout setup suggested, but gave it back all too readily this week. It recovered off its worst levels today with the market, but that break of our stop and the 50-day is enough.
FleetCor Technologies ($FLT) +18.3%. Original 7/22 entry post here.
Another name that has seen only a marginal break of our actual price level today after recovering strongly, but that’s a brutal move over two days triggering an ATR stop, and we’ll happily take our profit and step aside.
Proto Labs ($PRLB) +11.3%. Original 7/22 entry post here.
A similar situation to $FLT, in fact we would have entered and exited both positions at the same time. It can be argued this still has its longer-term trend but these ATR and trailing stops are there to protect us and we’re out.