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.
GRMN stopped, TEX added
Open Position Notes:
FBHS saw an attempt at an early rally on Thursday but profit-taking kicked in until mid-afternoon when the stock again turned higher to post a minor net gain on the session. This of course breaks the 5-day streak of declines, which is positive to see. Volume also was strong on the day, although at this point we’ll now need to see some upside follow through. The potential is there for this to hold as a higher low, so the overall chart remains bullish and I’m sticking with the trade.
Closed Positions:
GRMN never could get going despite being given a few weeks to make it happen. On Thursday, the stock dipped enough to hit my stop loss at $46.25. Along the way, however, the stock paid a $0.40 dividend, effectively making my exit $46.65, so on a net basis I booked a 1.2% loss in the trade. For a trade which never was able to confirm the pattern I was trading, this is about as small of a loss as I could have taken. I stayed incredibly patient with it to give it time to go and allow it room to fluctuate, but ultimately the stock just wasn’t ready to rally. I’ll now let it be until it sets up for another play.
