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.
VRTX triggered & stopped, COH triggered, P added
Open Position Notes:
COH triggered a short sale today after testing resistance, failing, then making a new multi-day low. The stock went out at its low of the day, suggesting the sellers ran out of time before they ran out of inventory. While I did expect to see volume increase across the board today, I am pleased with the big red volume bar on the daily chart for this stock as it now turns back down within its channel. I’ll leave my stop as-is for the time being, and will watch for some follow through in the days ahead before looking to make any adjustments.
Closed Positions:
VRTX triggered a buy this morning on the open, gapping slightly through my intended entry price with the broad market strength. The stock wasn’t able to make much additional progress, however, before it reversed lower and sold off for the remainder of the session. The reversal hit my stop loss, taking me out of the trade for a 4% loss. This pop-and-drop kind of move is frustrating, but it’s part of trading and the setup in this stock was one I’d take again. With today’s failed breakout though, it’s an indication that the stock isn’t ready to go, so I’ll leave it alone for now.
