Even Jabba The Hut Does Weight Watchers - Long at $51.10
Pretty good day so far - I went ahead and covered my short position in Meadwestvaco (MWV) at $28.72 from $28.50 for a 0.8% loss. That's okay though, because I have long positions in HES, MDT, and now in Weight Watchers (WTW). I jumped in at $51.10, and have largely benefited off of the sudden intraday spike in the SPX this afternoon. This will be a swing trade as well, and now that we are putting in a higher-high in the market in less than two days after breaking the previous uptrend, I think we are looking more bullish heading into next week.
At this moment, I have no intentions of selling HESS Corp (HES), and my new position in MDT today is moving up about 2% already since getting in it, and will hold it over the weekend as well.
Here's the WTW trade setup.