Highlighted Trades - 01/29/2024

Our most profitable trade today was a long position on $AWK. Movement upwards was very smooth, right to our exit price, for a profit of 1.13%. This is a good example of our new, tighter stop losses working out well. From the moment we entered the position, $AWK remained a fairly safe distance from our stop loss.

Our most profitable short position was on TGT. Again, the stock moved directly to our exit, and never got close to our stop loss. We made 1.13% here - almost the exact same return as our AWK trade. In both of these trades, it’s debatable if we should have used target exit prices at all. On TGT, technicals didn’t go bad until the stock price was even better than our exit. On AWK, the price is currently above our exit price, and technicals are still good for the trade. This is another potential change to consider.

Our best position that’s still open is a long on CMG - up 1.03% so far.

Our worst trade today was this long on CTLT. We went long at $53.60, and got stopped out at $52.97, for a loss of 1.17%. This is a case of our tighter stops working against us. Had the stop been twice as far away, we would’ve stayed until technicals turned bad. The trade still wouldn’t have been profitable, but our losses would have been notably reduced.

In total, we took on 53 new positions today: 32 long and 21 short.