As I expected, Target (NYSE: TGT) has run up in value after a stronger than expected Black Friday/Cyber Monday sales period. Yesterday, TGT gained nearly 9% and is up another 1% this morning, crossing above my target price of $63. For that reason, I am raising the stop price to $60 to ensure that we keep most of this very fast gain. The retail sector is on a roll but is also quite volatile and subject to wide swings based on perception as much as reality, so the past week’s price action could quickly reverse.

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.