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.
SFLY triggered & stop raised, EBIX & HFC stops raised
Open Position Notes:
EBIX saw some quiet accumulation take place today as it tacked on 1.6% to post a new closing high. Volume was light, however, as the stock remained beneath its intraday highs from last week. The consolidation of the past few sessions has taken place above last week’s trend line break, which is bullish, so I’m looking for some acceleration in this stock in the next couple of days out of this area. With Target 1 approaching as well as the overall lack of spark in this move so far, I’ve tightened my stop again in this trade.
HFC continued to new recovery highs today with a 1% gain on its best volume since this trade triggered. The stock did pull back slightly from its best levels of the day, despite posting its 6th consecutive advance. I’ve raised my stop again tonight for this one just to lock in a solid gain should it happen to reverse. Streaks like this can result in impressive moves if they continue, but just in case the stock happens to get hit with some profit-taking I won’t be letting it go too far.
SFLY triggered a buy this morning as it pushed through the short-term trend line, but with a lack of strong volume it fell right back into negative territory. It was able to stabilize in the afternoon though, which I was encouraged by, despite finishing beneath my trigger price. Because I’m anticipating this one to accelerate quickly higher (should this low get embraced), I’ve tightened my stop tonight in order to reduce my risk at bit while waiting for another attempt at some upside.
Closed Positions:
No closed positions.
