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Genesee Wyoming (GWR): Stop loss at $45 nets us 31%

Posted August 12, 2008

Genesee Wyoming Railroad (NYSE:GWR) hits our profit target. Our stop loss at $45, which we set yesterday and reinforced this morning, got us out with 31% in two months.

by J. Christoph Amberger

Baltimore — (TFN): Yesterday, GWR briefly hit our profit target of $45. I told you what I intended to do: “Move your stop-loss up by another dollar to $44. When GWR moves above $45 (any day now!), adjust it to $45. This way, we will definitely get out with our initial profit target, and reserve the right to make more money as the stock moves further.”

This morning, I wrote “GWR comfortably chugged above $45. That means the company has hit my initial profit target two three months ahead of schedule. Momentum seems strong, and new acquisitions and a decent harvest should add plenty of cash to the Q3 bottom line. So for the time being, lock in profits at $45 by adjusting your stop loss to that level. And hang on for more upside. At this paqce, there mught be another five bucks in it for us.”

Barely had I posted this that the price dropped below $45, triggering our stop loss and getting us out with a nifty 31% gain since June 26.

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Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

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