the_get_man
Long

UTG Dividend Ride to All Time High

AMEX:UTG   REAVES UTIL INCOME FD
7 0 1
There has been massive bullish volume affecting UTG.

I am being aggressive here in my entry @29.27. UTG is a good stock to own because is pays monthly dividends and moves slow so you will have plenty of time once entered to take dividends and plan an exit if the trade starts going against you.

Stock closes bullish today a tweezer bottom will form after a nice pull little back from a bullish month

***For a less aggressive entry you can wait til the stock gets above 30 & move the stop up to 29.03
Trade closed manually: I collected the dividend shortly after getting into this trade and closed it today at $30.04 for a total 1R which is 1x the amount of money I risked losing on the trade.

There are 2 reasons why I closed this trade: the resistance it is facing at this level with no bullish volume to support a break thru and I need to free up capital.

I will look to this stock again in May for another dividend check.
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