We hold a two-contract tracking positions that was rolled this morning from January into February. Interpolating for the change, the original four-contract position acquired on Dec 15 via a ‘counterintuitive’ entry trigger is showing a theoretical gain of $4720 @ 53.34. Imputing that sum to the two contracts we hold (after selling half the position at an interpolated price of 53.39) gives them an effective cost basis of 50.98. Offer one of them to close at 54.54, o-c-o with a stop-loss on the two-contract position at 52.56. Our target for the last contract is 55.68 (see inset, which suggests we could conceivably shoot for a significantly higher price). Incidentally, I am no longer tracking a camouflage position that was offered as a lower-risk alternative because it now appears the position would have been stopped out for a $1320 loss about eight hours after it was entered. To avoid such confusion in the future, I will offer only one entry tactic, tracking alternative positions only if subscribers report having used an entry strategy other than the one specified. _______ UPDATE (Dec 21, 7:04 p.m.): Our tracking position was stopped out based on the instruction above. Those who followed it to-the-letter would have come away with a profit of about $3160. We’ll back away ahead of the long holiday weekend.
