For those in the trade, note that HLF has hit the second profit target today for a 19% gain from entry. T3 remains my preferred target at this time & that target may very likely be extended soon. With that being said, take some or all profits and adjust stops as per your own unique trading plan. This quick 19% gain in just a week and a half follows a 24% gain on a previous short of HLF that was closed out just two weeks after entry.
Those who have followed the site for a while have probably noticed my propensity to recycle trades, often trading the same stock both long and short several times per year. Although I am constantly on the lookout for new trading candidates, I usually keep many of the same stocks in one of various watchlists after closing out trades, continually monitoring them and waiting patiently for a new setup to develop. Focusing on a limited number of stocks for an extended period of time will often let you develop “a feel” for how that stock is going to react at certain technical junctures (e.g.- Is it prone to false breakouts? Do traders jump in & out quickly when it breaks out a certain pattern or pulls back to a particular moving average?) Such a strategy can be particularly useful to rookie traders as continually seeking out new trading candidates can be overwhelming and often leads to chasing your own tail, jumping from stock to stock, each with different trading dynamics.