For the second time in a week, we’ll be adding a bank stock to the HOLLY Hot List portfolio. The banking sector was a leading sector before February started and has rebounded nicely since the brief volatility scare during the first week of February. Joining Fifth Third Bank, KEY has caught HOLLY’s attention.
KEYCORP has a $22 Billion market cap and trades an average of 10 million shares per day. Plenty of room in this sandbox for all players. And with shares seemingly leaning against the 50 day moving average for support, I think this stock resumes it’s upside march as long as the general market cooperates. And more aggressive swing traders have a pretty well defined level around $20 to place stop loss orders.
SWING TRADERS: adding our second bank to the @tradeideas HOLLY Hot List — $KEY Key Corp — which is trading near Post Financial Crisis highs. Don’t fight the trend! https://t.co/0jtsUNxyyl pic.twitter.com/qcbVStQdxi
— Sean McLaughlin 📈 (@chicagosean) February 28, 2018
We’ll be adding this stock to the portfolio at the opening print tomorrow — Thursday, March 1, 2018.
HOLLY Hot List Portfolio Update
We got stopped out of LOW this morning, thanks to a disappointing response to their latest earnings report. Bummer, as we were once sporting 21% open gains in this position. So there was plenty of opportunity for nimble players to make some money here. But if you held with us all the way to the bitter end, you ended up with a 3% loss.
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Good luck out there!
~ Sean McLaughlin (@chicagosean)
Originally published on medium