Shiloh Industries

SHLO

Company. Shiloh is "a leading supplier to the automotive industry, manufacturing a variety of engineered products, including blanks, engineered-welded blanks, stamped components and value added assemblies." (company website)

Buy. Shiloh came to my attention last month when it broke above $10 on two days of very heavy volume. But I was in the process of divesting myself of all the turkeys in my portfolio and did nothing about it. I noticed it again when it moved above the $13 level. Another heavy volume day turned buying pressure (green +DI line) up again, so I bought.

Sell. This week, SHLO got off the dime and started to move upward again, cracking $16 yesterday. But I was a little nervous because that new high was followed by drifting downward. Hmmmm, I'd best watch carefully, I said contemplatively to myself.

When SHLO gapped up again today and immediately began drifting down again, I put in my sell order for $16.50. The good news is that 400 of my shares sold for $16.52. The bad news is that I still have 100 shares.

I'm not surprised the price dropped. After all, SHLO was up 50% in just one month (from $8 open on 25-May). I'm just pleased with myself that I was enough on top of it to take a nice profit while it was there for the taking.