I booked gains in CLR Tuesday at $116.88 for a 4% gain. I probably could have been more patient with it into the close, but at the end of the day, I make it a habit not to worry about leaving a percentage or two on the table. I judge whether I should continue to hold a stock or not based on risk.

If the risk is beyond my level of tolerance, I will get out of the trade and CLR clearly became that for me today.

Remember, trading has little to do with being a good stock picker and everything to do with managing risk – even at the expense of not always squeezing every cent out of a trade. 

So if you want to learn to trade stocks in a manner that will allow for your to be consistently profitable, then sign up for the SharePlanner Splash Zone’s Free 7-Day Trial by clicking here. 

Here’s Wednesday’s trade setups: 

Long SunPower (SPWR)

Long Pioneer Natural Resources (PXD)

Long Noble Energy (NBL)

Short FirstMerit (FMER)

Short Helix Energy Solutions (HLX)