Reducing 3D Systems (DDD) Cup Target Acquired!

A very nice move in DDD over the past several weeks! The stock up more than 35% since our entry (entry post here) and with this morning's sharp rally, we have acquired our rounding bottom/Cup target at $69. As is my plan with target acquisitions, I am reducing my DDD holdings by 1/2 into this bounce today. If it just keeps ripping straight up, well then we still hold a half position. If it corrects back into strong support, we will add back to our position. Once you have a major pattern completion, the stock will typically burn off some of the extra oomph it has recently had and usually will correct either through time or price. Meaning the risk/reward is no longer skewed in our favor, therefore we reduce our position size.

Not much more to say than that, and a picture speaks a thousand words. This has been a monster for 2013 and I have traded it successfully since the $30 lows at the end of last year. Big winner for all my accounts and now, hopefully, a big winner for yours too.