This post was just published on ZYX Buy Change Alert.
JPM is long from $34.14. It is trading at $87.23 as of this writing in the after market. Our target zone has been $88 to $100. We are raising the target zone to $115 to $125.
The buy zone is being changed to $71 to $78.88. Conservative investors may not want to buy above $74.56.
Regarding stops, we are reproducing Note 19 to the Model Portfolio.
19. Stop zones are your second line of defense and NOT the primary defense, please see Trade Management Guidelines. Different subscribers enter these positions at different times and at different prices. Further, some subscribers hedge while others do not. The foregoing has significant impact on stop zones. The stop zones given are for a majority of those subscribers who follow ‘The Best Way’, take a comprehensive portfolio approach and hedge. Please adjust them based on your own circumstances. Those who have entered these positions recently or do not hedge, or do not take comprehensive portfolio approach, or do not follow ‘The Best Way’, may consider stop zones about 15% to 20% below the entry price or preferably 10% to 15% below the low band of the buy zone depending upon where a position is bought and personal risk tolerance.
Those who have been following ‘The Best Way’, have been hedging, and bought JPM when it was originally recommended may leave the stops unchanged.
What To Do Now
Those in the stock may consider continuing to hold.
Those not in the stock and following ‘The Best Way’ may consider waiting for a pull back in the new buy zone.
Those following ‘The Good Way’ may consider waiting for a 2% to 5% pull back before scaling in starting with a very small quantity. Please see Trade Management Guidelines.
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