SIB XX Trade Alert: CBS

 

Action to Take: Close CBS (CBS) at the market open on Tuesday, July 31, 2018.

 

Uncertainty in the boardroom rarely plays well on the Street and the revelation of sexual misconduct allegations against Les Moonves continued to push the stock down to our loss trigger today.

 

We will close CBS and look for a better opportunity in August when the new Discount % analysis is completed.

 

You can use a market order to exit the stock at the open, or wait until first hour volatility subsides and close the trade at the best possible price.

 

CBS closed today at $51.98 ($ .97 below our stop trigger), and carries a loss of 8.4%.

 

We’ll make that back.

 

Our next update will be on Wednesday.