As we ended last week, JTX was up a cool 16% since we featured it as our bounce play of the week (BPotW). There was a slight selloff on Friday and as the market opened on Monday I decided it was time to lock in some profits so I sold 1/4 of my shares for a 16% gain. My plan was to hold the rest to reach my $4 target, however as the week dragged on the stock continued to fall (along with many other stocks on the market). This is when I had to make a decision. Since I was still in the green from my initial entry I had no problems holding on to JTX as it tested the 2.40s range. However once it broke the initial price at which I bought it for (2.35 for those of you keeping track at home) I decided to set a stop loss and just see what happens. Normally I would suggest against setting a stop loss because its like showing your hand to the dealer in a game of poker, but in this case I knew that I wasn’t going to have much time to watch the stock while at work today and didn’t want to lose any of my original investment. So, as expected, my stop loss order was triggered and my position with JTX was closed out. Despite the drop, I was able to make my profit at the peak and will look to rebuy JTX if it closes out the day lower than my original 2.35 entry. The 1 month chart shows a bottom around the 2.05 – 2.10 levels so that could be the ideal re-entry point. Key here is that you have to manage your greed at times to ensure you get a profit because the drop can occur just as fast as the bounce if you aren’t careful.

JTX 1mo Chart