NLY daily 4NLY opened at 12.25 on the open, gapping past T2 for a 14.7% gain (profits are always measured on the opening gap price, if a target is surpassed as that is where a standing sell order would execute).   As stated before the open, my expectations and preference would be to see NLY consolidate around this level in order to alleviate some of the near-term overbought conditions on the stock and form a base from which to launch a more sustained move toward the next target levels.   Longer-term traders shouldn’t be overly concerned with the day to day gyrations or chance of any near-term pullback in the stock but should consider raising stops to protect profits at this point.

On another note, I spent some time over the weekend properly categorizing all trade ideas on the site as well as updating a few of the active trades.  As several non-time sensitive updates were posted, email notifications were suppressed.  Also note that a feature has been added to the sidebar on the right-hand side of the home page which lists the 5 most recent posts from RSOTC for easy reference.  I plan to follow up with some additional trade updates and possibly some new trade ideas this week as well.