The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
WLL Target 1 hit (1/2 position closed) & stop raised, ADTN stop raised
Open Position Notes:
ADTN pushed to new breakout highs today but a hard pullback in the final 75 minutes of the day erased the gains and left it negative on the session. This one is still lingering near the breakout zone, but twice now it has started to make some headway only to revert back beneath resistance. For that reason, I’ve tightened my stop tonight in order to reduce my risk in the trade, although I’d much prefer to see it make another attempt at an advance. If it doesn’t, I won’t give up much due to this lack of commitment with the breakout.
WLL ran higher this morning with exceptional strength, pushing further away from the trend line it cleared earlier this week and exceeding Target 1 where I closed 1/2 my position for a quick 4.3% profit. This afternoon, with the market suffering under some selling pressure, WLL saw profit-taking as well to erase a chunk of the day’s early gains. I’ve tightened my stop tonight for remaining shares should this market tumble further, while still giving it a little breathing room in the short term. I’d like to stick with it but the overall market will need to hold up in order for a run toward Target 2 to develop.
Closed Positions:
No closed positions.
