If you’re not out of Zagg (ZAGG), you should be…and it’s not too late. (July 08, 2014)

by DAN
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ZAGG 

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I’m going to wrap up this Zagg ( NASDAQ:ZAGG ) trade. I had mentioned, I think it was in last nights video, that you’ve got to have a stop on a stock like this, because when it moves this much in five trading days, that’s a lot, 25, 26 percent in five days, you’ve got to be totally happy with that. This is a stock that’s reversed; if you have not sold this stock, I talk about using the prior days intraday low and that was 5.84, you use that as a reference for a stop. If you did not set a stop, you’re down another 1.5 on a percentage basis, something like that. It is not too late to sell this stock. I don’t think you’re in danger of missing this move, not unless there’s something coming out that I don’t know about.

When a stock makes this move, when it finally gives up the ghost and goes the other way, you’re going to have a lot of people who never see any Stock Market Mentor Free Chart Video looking at this stock saying, “I’ve got to sell that stock.” You’re probably going to see some shorts leaning on it too. So the bottom line is, get out of this stock. If you must, look at today’s intraday low of 5.69 and say, “You know what, it the stock gets to 5.65 I’m going to sell it,” so you’re risking another ten cents. One way or another you absolutely need to look to get out of this stock because I think you’re going to give back pretty much all your profits if you’re not careful.

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2 comments

  1. avatar 2fridel says:

    I want to thank you for your lively comments on ZAGG.
    I learned something very important today, what constitutes a tight stop.
    I always was wondering… ‘How tight is tight’…, thinking of Johnny Carson.
    I am really impressed by your fabulously simple and precise answer:
    ‘Use the prior day’s intraday Low.’ I never got a precise answer from any of the
    many stock trading educational website I had been subscribing to.
    I’ll never forget that: The profit is in the details.
    Barbara Matthews

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