Pinnacle Foods $PF was added to the @TradeIdeas HOLLY Hot List today

June 26, 2018

Pinnacle Foods $PF broke out to new all time highs last week. It has been a steady performer more-or-less since it’s IPO back in 2013. And it pays a dividend yielding a respectable 1.97% annually.

The stock caught HOLLY’s attention back on June 22nd and we’ve been following it closely since. Yesterday’s market swoon dragged down a bunch of stocks with it, giving us a better entry price for this recent breakout. At today’s opening print, we added $PF to the HOLLY Hot List @ $66.29.

We’ll be trailing this stock with a 20% stop loss and we’ll keep the name active in our buy list until such time that the 20% stop loss is tripped.

HOLLY Hot List update

Yesterday’s market swoon caused us to surrender two positions from the list — the first two in a long time! The first one to hit our 20% trailing stop loss was $NCLH. Unfortunately, this position never gave us much opportunity for profits as we pretty much got in near the top (it happens). We originally entered on January 30 at 60.05. Yesterday’s exit at 48.94 resulted in a net loss of 18.5%.

The second stock we lost was a surprise — $RETA. We had entered on May 31 and she had been a very strong performer for us right out of the gate, shooting up as much as 26% for us in just 3 short weeks. So, naturally, we’re disappointed to see it give it all back in just 4 trading days. But, that’s why we leave stop losses in place. Could get much worse from here. In the end, we held on to just slightly less than a 1% gain. Harrumph!

Prices as of close of trading Monday June 25, 2018


If you’d like to learn how HOLLY, the Artificially Intelligent Virtual Analyst, can improve your trading and investing results, please visit Trade Ideas.

Good luck out there!

~ Sean McLaughlin (@chicagosean)