Until a week ago, our position in Pretium Resources (NYSE: PVG) was going nowhere fast. We opened it in early March while the stock was trading around $7, which is where it mostly stayed for the next four months. However, over the past five trading days the stock has shot up above $9 – presumably in anticipation of today’s update from the company that production at its Brucejack Mine is living up to expectations.

That’s good news, and we hope the stock makes all the way up it to our target price of $11 by the end of our target hold period in a month. However, given that Pretium is now trading well above its upper Bollinger Band we are raising our stop price $8.75 to lock in most of the recent rise in case the stock pulls back over the next couple of weeks.

NOTE: Unlike my stop-loss orders (stock sold at a loss) that are only effective at the closing price, a stop order (stock sold at a gain) is effective throughout the trading day and can be exercised at any time the stock trades down to that price.