Cheniere Energy $CQP last printed new all time highs back in 2014. And since that time, it has spent four years consolidating just below those highs. Depending on your perspective and time frame, you could make a case for a very extended flat base having been formed. And now it’s breaking out and printing new highs again.
Oh, and by the way, this stock — even at all-time highs — is paying a BEEFY 6% dividend.
I love situations like this, and once HOLLY spotted an opportunity on June 22nd, I’ve been keeping an eye on it. And thanks to this week’s broad market selloff, $CQP got dragged down a bit with everyone else, offering us a better entry point. Thank you.
— Sean McLaughlin 📈 (@chicagosean) June 27, 2018
So, we added $CQP to the HOLLY Hot List at today’s opening print of $36.61 and we’ll be holding this name until we see a 20% pullback from it’s high print.
HOLLY Hot List updates
The aforementioned dip in the market this week has brought about a bit of pruning to the portfolio. This week we lost positions in $NCLH (-18.5%) $GDS (+28%) $HFC (+24%) $NTNX (-1%) $CIEX (-12%) and $RETA (+1%). Bummer, but the positions that remained are likely to lead to even bigger gains if/when the market regains it’s footing. That’s how this game is won.
Speaking of leaders, $VRS tops our list over the past 5 day returning +12% during this maelstrom. That’s a name we’ll be paying close attention to over the next few weeks.
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Good luck out there!
~ Sean McLaughlin (@chicagosean)