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Sabrient Select Opportunity Virtual Portfolio

Sabrient Select Opportunity Virtual Portfolio

Harvest Partial Profits in XRTX

As I have discussed before, I am a proponent of "profit harvesting," in which you take partial trading profits in a position once it moves strongly in your direction. In general, for swing trades, I would look to bank profits in 1/3 of a position once it has provided a 10% gain, and then another 1/3 when the balance of the position has reached a 20% gain, and then I would let the final 1/3 position ride — without letting it turn into a loss. Today, we have an opportunity to lock in initial profits in long position XRTX, which we entered on July 6.

XRTX is up about +3.5% today and showing relative strength. Its current price of $13.53 puts our long position at about a 10% profit from the original entry price of $12.30. So, I recommend selling 1/3 of the original long position at the current price or higher, if you can monitor it. This allows us to bank some nice partial profits while letting the bulk of the long position ride in anticipation of even higher prices.

For the remaining open long position in XRTX, I will consider stopping out if it trades below the entry price of $12.30.

Best Regards,

Scott Martindale 


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