Trade ideas are provided as a guide only. Market Matters is not investing in these ideas as we do our other suite of portfolios available here. If trades are updated through the week, these updates will be advised in the morning note and will be flagged as an alert on the home page of the website. Separate emails or SMS messages will not be sent for Shawns Trade Ideas. The ideas are General in nature only.
Last week, we cut a few positions as “the reason for the trade” was gone. Traders should remember that most of their profits are likely to come from a small percentage of their trades. It’s a case of jabbing away to nail the correct ones while being happy to exit positions as opposed to holding just because the original stop hasn’t been triggered. This week, we have looked at Pilbara (PLS), a stock most subscribers have probably bought or at least considered over recent years as EVs become increasingly prevalent on the road.
- We like the risk/reward towards PLS around $2.15.
This trade is preparing for the “what if”; PLS looks and feels wrong at the moment, and after plunging 56c/17.7% last week, nothing can be ruled out.
Buy PLS at $2.15 with stops under $1.90 – note,a large stop on day one
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