Sell Alert: Credit Acceptance Corp. (CACC)

By Jim Pearce • August 1, 2017

TRADE INSTRUCTIONS
Date: August 1, 2017
Name: Credit Acceptance Corp.
Symbol: CACC
Type: Close
Limit: Sell at market

TRADE RATIONALE
Wow, no sooner were the words out of my mouth (actually, typed into my computer) when I received notice that my $275 target price for CACC was hit at the open this morning.

CACC jumped more than $20 this morning after releasing a monster quarterly earnings report, triggering our target price limit and giving us an annualized gain of 110%!

That gives us our first triple-play, triple-digit winners day in a single day, thanks to the discerning eye of our Rapid Profits Matrix. Not a bad way to start the month!

Stock Talk

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Janis Bell

08/01/17 ‐ 1:24pm ET August 1, 2017 at 1:24pm ET

I’m confused on this: It hit $275 this morning so we are supposed to sell at market price even if it is down to $272 now or lower at market closing?

Jim Pearce

08/01/17 ‐ 1:47pm ET August 1, 2017 at 1:47pm ET

That’s entirely up to you since your investment objective and risk parameters could be quite different from the ones I am using to manage this portfolio. That said, my guess is CACC will pull back later this week given its huge jump today, so if you are going to hang onto it to see if you can get $275 for it then I suggest moving your stop order up to lock in most of this gain in case the overall market takes a dive before then and takes out most of this gain.

Martin Vetter

08/01/17 ‐ 2:23pm ET August 1, 2017 at 2:23pm ET

Nicely done, Jim – congrats on your triple/triple!

Rick

08/02/17 ‐ 1:58pm ET August 2, 2017 at 1:58pm ET

Very nice call Jim.

I missed this big move, but I had already done very nicely on two calls trades during the holding period. Both were over 100% annual returns but holding the original trade until now would have been spectacular.

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