Sell Western Refining
The open 30 Day Dividends position in Western Refining (NYSE:WNR) has a target price of $50.25. The shares jumped above that level early this morning (8/12/15) but quickly dropped to trade right around $50.
If the share price gets and stays above the $50.25 target during today’s market session, I will close out the position at the target or closing price, whichever is higher. You can lock in the target 11.5% gain with a limit order to sell at $50.25.
Recommendation: Sell to close open positions in WNR if the price hits or exceeds $50.25.
Caveat: Western Refining is a very well run refining company and this energy subsector is making money hand over fist in the current crude vs. fuels commodity prices. WNR is an attractive longer term position as long as crude stays low and gas and other fuel prices stay at or near current levels. For 30 Day Dividends I am using WNR as a swing trading stock, since the market often fails to differentiate between different types of energy companies, setting up for shorter term trading opportunities.