Wall Street Renegade Swing Trading Founder, Jay Peroni, CFP, calls the low and gets out near the all-time high!
Our Wall Street Renegade Swing Trading System just hit a major home run.
On August 28th, our system identified unusually high option activity on Sarepta Therapeutics (SRPT). After studying this company, the Wall Street Renegade Swing Trading System issued a call to buy Sarepta up to $15 a share. We purchased 1,000 shares that day at $12.58 a share for a total of $12,580.
From August 28-October 2nd, the stock has been as high as $17.12 and as low as $12.30. We got in near the low!
As I learned more about the company and its potential, I raised my buy up to price to $17 allowing new Renegade subscribers to get in on something that looked like it could explode at any moment
And explode it did!
Here is the newsflash:
“Early this morning, Sarepta Therapeutics (SRPT) reported stunning 48-week results from a Phase IIb study of eteplirsen for the treatment of Duchenne muscular dystrophy (DMD) — a progressive disease that leaves patients wheelchair bound by their teens and dead shortly thereafter. The data are about as good as bulls could have hoped, and strongly suggest that the company can successfully vie for accelerated FDA approval.” – thestreet.com
This morning, SRPT opened at $31.81. I held on a while to see if we could get a little more upside… and we did. Once it crossed the $40 threshold, I sent out the following alert to subscribers:
“We are selling 100% of Sarepta Therapeutics (SRPT) which is now at $41.28. It is up 172% today. We want to lock this gain in. I will have more analysis later today but a HUGE win for those who got in on SRPT when we called it!”
So we got in near the low and cashed in close to its all-time high!
The stock could continue to run, but we made a 228% gain in 5 ½ weeks.
I am not getting greedy.
This morning, in our Folio account, we sold 1,000 shares at $41.28 for $41,280, a gain of $28,700.
Even if you only bought 100 shares and bought at the high (prior to Oct 3rd) at $17.12 for $1,712 and sold today at $40 for $4,000, you would still have a net gain of $2,288! That would be enough to pay for almost three of our annual membership fees of $697.
DISCLAIMER: The above trading ideas are from my own personal stock list and are for educational and informational purposes only. They are NOT specific buy recommendations. Trading stocks is risky and you could lose all of your money. Trade at your own risk. You should always consult a trusted financial services professional before making any financial or investment decisions. Past results are not implied or guaranteed.