New Position: RSX Long 17.26 ATR: .50
Name of Instrument: RSX Daily Market Vectors-Russia
Current Price: 17.24
Sell Stop: 16.54 or about 1.5 ATRs risk
Reason For Trade: After basing throughout December 2014 into February 2015, it had a phase change to recovery, corrected and crossed back over the 50 DMA again, only this time with a positive slop. The buy stop triggered was because it also cleared the 100 DMA. Our stop is under the 50 DMA with a great risk/reward potential to 20.75 or higher
First Profit Target: 18.74 for ½ off
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Existing Position: ½ KRE long 40.86 ATR .66 (SOLD ½ 40.26)
Name of Instrument: SPDR S&P Regional Bank
Current Price: 40.99
**Lowered: Sell Stop: 39.24
Reason for Trade: Bought on weakness in a bull phase with good 2 ATR risk to the 100 and 50 DMAs and the March low. Defensive measures sold ½ same day to reduce exposure which we will buy back on an opening range breakout over R1 when happens.
First Profit Target: ½ off 42.84 Market if touched
