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That was a nice (and quick) profit!
We entered AFLAC (AFL) with that in mind and “scalped” $2.13 for a 9.3% profit this morning. We have been watching an interesting phenomena with stocks getting crushed, moving through all the programmed trading stops and then charging back in a day with a huge upswing. We positioned ourselves this morning to watch for a move as if this would occur, it would be fast.
As there was news coming out about their “terrific” cash position and sturdy balance sheets, shares started to jump. We got on board quickly and once the shares appeared to be moving towards overbought, we added a trailing stop.
Profit – $ 2.13 ( 9%)