EEE Follow Up

Since June 17th, when I first posted the EEE trade, I've posted numerous follow ups including yesterdays.

 EEE has had a very strong daily 3C chart and for this reason, I've stuck with the idea of the trade. I also feel the trade has the ability to add to the gains. However, for trades like this, my rule of thumb is to take partial or total profits on gains of double digits (%).

 EEE still looks good on the 60 mn chart, I don't have any real reason for alarm, but still I'd start to take some profits and place a trailing stop behind the rest.

 The 15 min 50-sma seems to be a decent trailing stop, allowing for some consolidation.

As you can see, if you bought on the 17th, you''d have at least a 13% gain, others who have bought more recently may have gains in excess of that. These type of trades (Cats and Dogs) are a good leading indicator. I didn't trade them years ago because of their speculative nature, but I did watch them as they seemed to fire off right at the end of a bull move n the market. I do think EEE still has potential in the intermediate term, that doesn't mean that it won't pullback and erase gains over the last few weeks. For this reason, I would consider taking some profits and trying to lock in at least a break even trade with whatever you leave on the table.