Hotels and Motels

 I have 5 Hotels in my Hotels and Motels Industry Screen, 3 of them closed up last Friday when the SP500 lost 2.28%, so I’m looking at candidates

 

 

 Now I don’t like going long at the open, I’d rather put a stop limit order up in case the market reacts favorably, its no bullet proof, more times than I want to remember the market open up and then close too much down, well that’s the business

 

Look at this chart of HLT, very well defined the support and resistance levels

 

 

 

Closing prices give a clearer picture, still not new lows

 

 

 

 

I’ll put a stop limit buy order at 124.40, that is 1.5% above Friday’s close, so in order to execute the group must explode higher

 

Target is at 128.90 giving a 3.6% profit, stop loss at 117.25

 

I still think with this high volatility we are not ready for longs, let’s see what tomorrow brings