New Residential Trade Clarification
On June 11, I recommended a Buy entry for New Residential Investments (NYSE:NRZ). I failed to note that NRZ is a Form 1099 reporting company, thus not a partnership.
The stock is still trading within a penny of the $16.04 closing price on the entry date, so a position could still be established. Thanks to subscriber, Gerry for holding my feet to the fire and make sure I keep you informed on the tax situation of every trade recommendation.
Re-recommendation: Buy NRZ at $16.05 or close.
Target Price: $17.50 for a 9% gain.