Here is an update on our Corning (GLW) trade. (March 17, 2016)
GLW
I want to go back to Glow Worm (just a little nickname), Corning ( NYSE:GLW ). The stock continues to move higher. Now I’ve covered this recently a few different times. The reason was because the stock, low, higher low, higher low still, oops, and then a higher low still. So the stock has been essentially printing higher lows. Flat top here at $19.00, and it’s been trading higher. So I just wanted to mention this because it’s back up above the 200-day moving average. What you want to do is realize this stock has already had a heck of a haircut. Now it’s already made a run, but the way the market’s moving this stock could continue to run some more. So what I would suggest doing now, if you took this trade last time I mentioned it, which was I’m pretty sure on this breakout here, just use a trendline. Don’t keep it too steep, but just use a trendline about like that, keep it going. And then as the stock moves higher, hopefully it will, you keep raising your stop a little bit. Free Chart