$COH - The Channel Play - $100 profit so far

Update: Long Term Hold: $COH

I posted my $COH swing trade a little while ago, possibly more than a week ago and it finally is going my way.

Click here to see what my thoughts were when I entered the trade. 

I bought 44 shares at 50.04 and now if you look at the chart below its at 52.30 or so. So you do the math that's +$100 in profit. It's fun to see my long term plays play out well, in the past I've knocked down a few of them with good entries but the waiting process is so annoying. First of all it ties up my cash but that's why I have 2 separate accounts for separate purposes. 1 account is for day trading and the second is for holding sh*t like this. I think $COH is going to do some earnings business later this month, that is when your long trade can get ruined and wiped out. Bad earnings and this POS stock can be down to 45 and that's it, profits wiped out.

I rather use options to take advantage of longer term price moves so I can use less money in the trade and pull out higher percentage returns. But I don't mind this $100 profit on an investment of $2200. So in the long run I tie up less cash but pull out more profit per trade.

So far that is 4.5% return in 1 month, beats 0% or any savings account. If I put $2200 in a savings account for 1 year at 2% (which is an outrageous interest rate) I would only make $44.  Again, better than 0% but considering inflation and blah blah BLAH my ass still lost in the long run. One RIGHT trade a month will get you there, start small, build confidence and then just start smacking down the loot.

That's it with this update.

Check out the chart, notice the sideways action for almost a month and now $COH finally broke out, good sign, ill let this bad boy continue and see where it takes me.