Vale Close to Target

It can be hard to take profits, then watch a holding continue to roll higher, but that happens from time to time. It is also why I have been trying to focus more on scaling as targets are hit, with the end goal being a runner position where I can have a much wider stop set or even no stop at all.

Vale (VALE) came within a nickel of the $15.85 target on the chart I have been using to trade this one. We are close enough today where taking a first target scale of 1/3 the open position makes sense. I still really like this stock, this chart and this position. In fact, Brazil is shaping up with a chart very similar to the one I posted on Mexico last week. Both of these countries are looking like buys on any pullbacks and it is worth spending some time digging into underlying names....196 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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