Hello!
I took a position in NEM at $48.13 this morning. As mentioned in yesterday's blog, I had an entry targeted for around $48.50. The stock gaped up in the morning above this price and immediately filled the gap. the stock spent most of the day around my buy price but closed below it. The earnings released by the company this morning were decent to good. I'd like to see the price hold above the $47.45 area in order for me to stay in the position. I like the potential of the company, particularly if the price of gold starts to move back up. The stock price has lagged the price of gold and should start to catch up if gold rises.
DNKN moved up on earnings, but the two daily candles were not necessarily encouraging. Since I've raised my stop above my entry price, I should be able to realize a gain if I get stopped out. It looks like I will need to continue to be patient with this one before I exit. We'll see what hits first, $35 or the 50 day MA (today = $30.51).
Remember to follow your own trading plan.
Have a good weekend!
~JP
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