Long Roundy's (RNDY) at $7.86
Going through my screens each morning as I always do, I was becoming a bit discouraged, because I couldn't find anything really enticing, and then Roundy's (RNDY) came into my life and made everything a little bit better for me.
Honestly, I had no idea what I was getting myself into with a name like "Roundy's". I thought it could be anything from a strip-joint to a pig slaughter-house (you know, the places that we get ham and pork from).
Surprisingly, it was a grocery store chain up in the Wisconsin area, which would explain why I have never heard of it, but I'm sure some of the SharePlanner readers in the Wisconsin area are frequenters of this retail chain, and are laughing at my ignorance of this establishment.
Nonetheless, I'd consider this a high-beta stock, and one that could quickly stop me out if it takes the notion to do so. I'm currently long at $7.86 with a stop-loss at $7.70, so I'm not giving it too much wiggle room, but if it can climb higher, and get out of the $7's there's likely to be a lot of people jumping on the bandwagon as a result.
So maybe I'm a bit early on the trade, but in doing so, it keeps my risk tight, and allows me to be in the position to benefit from the run up if it break's through and out of the $7.90's.
Here's the RNDY Trade Setup.