If it is a trading play, we will say it is a trading play. That means we are looking for the specific move targeted. Otherwise, we are looking for the stock to make a move higher and continue that move. The ‘targets’ are the level where we anticipate to see the first slowing or resistance. That is the first decision point. As the market improves, we are not using that as a profit taking point as much for our longer term stock plays. It is part of keeping our eye on the stock and where it might find resistance so we can make decisions if we want to sell or ride it down. For options, we tend to treat them as shorter term plays with the targets as our points where we will consider taking profits. Since options are time sensitive, we are less inclined to ride them back down if we have good profit built in.
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