Trade 5.5 of 73: OUT with $1,611
On March 4, 2016, REXX reached the target price of $1.23, and Trade 5 closed with the required ten percent gain. We now have $1,611.
This trade took just over two months. I opened the trade at the end of December 2015, and if you may recall, January was a brutal month for stocks, and energy stocks in particular. I saw my investment reduce by more than half.
Then two months later, as it often happens, the reversal took place. Fueled by good news and what the analysts call “epic short squeeze”, the price of REXX shot up over a hundred percent in a matter of days, erasing my losses and giving me the ten percent gain.
Let’s see if I can find a trade that will take me less than a month. Stay tuned.
Tim H.
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