LL Final Target Hit July 9th
The LL (Lumber Liquidators) short trade has hit the final target, T2 at 71.72, for a 38% from the original entry. LL was first mentioned as an aggressive entry as it was just breaking down below its 2-year primary uptrend line on the morning of November 22nd (trading around 114 at the time). I also listed a second add-on or more conservative entry on a break below the 109 support level, which the stock also went on to trigger later that same day, providing a 34.2% gain based solely on that entry level (and about 36%, if taken in tw0 equal lots at both entry points). The possibility of adding a third target target level around the 49 area was previously discussed but as I did not make it official before this 2nd & current final target was hit, I will consider T2 the final target and LL will now be moved to the Completed Trades category where all associated posts on this trade will be archived for future reference.
LL is one of many trade ideas, both long & short, that have remained in the Active Trades categories for many months now. Unlike LL, which never exceeded any suggested or reasonable stop (always trading below the original entry point since the inception of the trade), there are quite a few old trade ideas that have either exceeded their previously suggested stop criteria or any reasonable stop criteria, if none suggested. I do plan to clean up the Active Trades category this week by removing any stopped out trade or those that no longer look very attractive & I will also continue to scan for any new trade ideas offering the most attractive risk/return profiles. As always, if you have any questions or comments with any of the trade ideas or market analysis shared on RSOTC, please don’t hesitate to contact me.