Pyramiding Sainsburys

You may have read at The Motley Fool and other places today that J Sainsbury plc Rallies As Sales Jump 7.1%. I took advantage of the positive gap-up and partial-gap-close to add a third pyramid position to my aforedocumented (it’s a new word) Sainsburys “trade of the week”.

The following picture shows what this pyramided trade looks like now. The thin horizontal lines represent the three entry prices, and the thicker horizontal line shows how the common protective stop order┬áhas locked in much more profit on the first two positions than I stand to lose on today’s third position. Else I wouldn’t have done it.

 Pyramiding Sainsburys

Here’s the latest scorecard:

Figure-SainsburysPyramid3Scorecard


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Disclaimer: this posting is for general education only; it is not trading advice.