McKesson. A stock I hold near and dear because I work for MCK. However when it comes time to pull the plug on my MCK trades I will do so with a click of a button. My first buy was from the 60’s after a 5 point gap up. We recently just had another 5 point gap up (roughly) after 2012 targets were lifted. Before you go making the assumption I’m some insider, hardly. While I do work there, I have zero access to such information. I get it when everybody else does. How do I pick my entries and exits? The same way I always do. Supply & Demand analysis. It has served me well, as the $20k I set aside to trade MCK a year ago is now closing in on $35k. By hook or by crook I will boost that another $5k by year end.
JPM analyst, before the earnings news, set a $57 target on MCK after it had come down a bit from $87. My personal target was $66.25, which didn’t get hit. I was about 0.50 off of the recent bottom before the gap up. It dawned on my thet the JPM analyst, in their infinite wisdom simply picked the 365 EMA as the target price. I said to myself, “Wow, if it’s that easy I want to work for JPM as an analyst for $100k a year”. Needless to say JPM and a few others are now eating their estimates and have since changed those estimates back to their original $98-$108 targets.
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nice profits. grats
Thanks