I bought 350 shares of DXPE at $47.55. This is a breakout-pullback play. The stock broke out and is pulling back on diminished volume. I will likely place a stop at $44, and my initial target is $52.50, making for a 3:5 risk to reward ratio.
Note that I’ve been going with smaller positions sized of late. Most of the indices are hitting the top of their trend channels, so I am expecting a pullback in the near future. Specific to DXPE, it’s in the midst of it’s second breakout from it’s base, causing me to be a little more cautious.
I sold 250 shares of TSL at $55.47 (entry at $51.07) for an $850 gain (+6.6%). My initial target was $60, but I’m not happy with the volume on the upmove. This leads me to believe this move is a dead cat bounce that will continue to breakdown, rather than a reversal upswing.
Paul J Singh 
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