The State Of STT

Good Afternoon Traders,

As you should know, I hit my PT2 level in STT this morning at 70.50 and made a sale of 1/3 of the position. Normally, I would of sold the balance BUT STT is giving me a new level of profit to gauge in the coming days to weeks. So we will maximize the gains and trail the stop on the last 1/3 of this trade.

The daily chart of STT shows you why I will look for another leg up to the next PT target (PT3). I will average the PT2 and PT3 sales if I should hit PT3 since my sheets only use twp profit points. See my “Decision Making”  tab.

 STT has based from 68.25 to 70 the past 2 weeks. 

  • STT broke out from the larger base last month and has held up post EPS. 
  • The PT1 and PT2 levels were hit in each case after some rest and then momentum came back into the stock.
  • The $SPX shows no real signs of failing anytime soon.
  • The green arrows are PT1,PT2 and PT3.  We hit PT1 and PT2 already.
  • The yellow circle is the projected next level
  • The RSI is showing signs of a pure clean break of the 70 level. Momentum play now !

STT

I will continue to let this stock run its course as we maximize the profits under very low risk since we already booked two good sales.

Nick Pirraglia

TradersThinkTank

About Nickolas Pirraglia

Nick Pirraglia started his career in trading in 1991 after returning to the US as an Army Officer deployed in Iraq. He began as a bond broker and worked his way into trading. Expert mentoring, hard work and a disciplined approach to the markets has allowed Nick the ability to maintain a very successful career in Capital Markets and Trading for over 20 years as a professional OTC Market Maker and independent trader. Nick has also managed the trading desks for a two Dallas based capital management companies and traded equities for a Dallas based hedge fund. Nick has trained and mentored thousands of customers in the rigors of trading, technical analysis and risk controls. Recently, Nick had broadened his market experience through the design and product management of two automated trading platforms. He has the pleasure of working with some of the brightest minds in the trading community and has collaborated with experts in data, design, engineering and trading psychology. An avid long distance runner, Nick completed several marathon events, qualified for the Boston marathon, completed several long distance Triathlons to include finishing a full Ironman triathlon.
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