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.
AGP triggered & stop tightened
Open Position Notes:
SLB gapped higher this morning, sold off quickly to fill the gap, then lifted for the remainder of the day without violating either the morning high or low. It was some unusual price action, but overall the stock made some upside progress to return to the key $78 level. With an already adjusted stop in place, I’m going to leave it untouched as we head into Tuesday’s session. I’d like to see this one reclaim the $78 level for good and build from here, but for now the stock is still showing some hesitation so I’m doing my best to be patient.
APOL spent the day in a choppy range after a mildly positive start to the day. It crossed the flat line numerous times, ultimately finishing down just a couple cents on the session. This one rallied a few days last week to breakout and now is resting, so I’m content to stay with it here so long as it doesn’t fail the breakout and start to weaken. I liked the fact that today’s volume was minimal and lighter than previous sessions, again just suggesting to me that this is a rest phase.
AGP triggered a buy this afternoon as it cleared the $69.10 level to break out, made some initial progress, then gave the move right back in the latter portion of the session. This is a bit disappointing to see, and it could be that with earnings scheduled for Friday traders simply are unwilling to commit to a breakout here. I mentioned last night I’d aggressively raise my stop if this one triggered today, so I’ve moved my stop to just beneath today’s low. Should this one struggle to make progress, I will continue to aggressively raise my stop in order to reduce risk, and will definitely be out by Thursday’s closing bell.
Closed Positions:
No closed positions.
