Long Position on SGY @ $35.37 on 2/24/2014 (Momentum)

Stone Energy Corporation (SGY) is an independent oil and natural gas company.

The firm engages in the acquisition, exploration, exploitation, development, and operation of oil and gas properties in the Gulf of Mexico and the Appalachia region.

As of December 31, 2012, it had estimated proved oil and natural gas reserves of approximately 773 billion cubic feet of gas equivalent.

The company was founded in 1993 and is headquartered in Lafayette, Louisiana with additional offices in New Orleans, Louisiana; Houston, Texas; and Morgantown, West Virginia.

Shares have formed a bullish "flag" and higher share prices are expected for this stock.

52-Week Trading Range:  $17.34 - $37.96

Entry Point: $35.37

Stop Loss: $33.60

Target Price: $38.90

Updates

3/21/2014 9:36:03 AM

SGY reached our target price. We are taking profits. If you elect to stay in the stock, raise your stop loss to $38.75. Postion closed at $39.06.

Position closed on 3/21/2014 at price of $39.06 with a 10.43% gain in 24 days.

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