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.
No changes
Open Position Notes:
GRMN turned lower today on increased volume, despite the indexes showing some modest strength. Today’s finish took the stock back beneath the trigger price from last week, which I do not find encouraging. The stock had a shot at clearing the $48 level, but stopped shy of that level and turned lower, shedding 1.6% on the session. My stop remains in place beneath the recent low, so should that level get crossed and we see the gap again start to get filled, then I’ll shift to the sidelines. Today was the record date for the $0.40 dividend, so I stand to capture that at the very least. If stopped, it will effectively reduce my loss, or if the trade works then I’ll effectively have caught a little larger move. That’s an afterthought though, as what I care most about is the price action and this one isn’t acting well.
CLR gapped higher this morning, filled the gap right off the bat, then traded up to a new morning high. Once again though, we saw that bounce (and another in the early afternoon) get used for selling and the stock ultimately gained only a few cents on the day. The failure of the stock to attempt to clear the trend line level (which failed yesterday on its first attempt) is a bit of a concern. I’m staying with the trade to be patient, but overall this stock appears to still be moving laterally. My stop is in place should it be needed.
Closed Positions:
No closed positions.
