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.
YNDX stopped
Open Position Notes:
GRMN weakened further today to mark a new pullback low. The stock was able to lift from its worst level, but never attempted to fill the opening gap and still appears to be in a position of weakness. I’m watching for downside follow through as the sellers are still in charge for now.
POT sold off today but held just above my stop loss, keeping me in the position for now. This appears to be another test of support, and it’s not surprising to see some weakness here with the overall market struggling today. Nonetheless, the stock did rebound slightly from its worst levels, so perhaps it can lift a bit in the next couple of sessions. Earnings are due out Thursday morning before the bell, so I’ll look to exit prior to then. Watch for a possible mid-day exit via email or Twitter in the next couple of sessions.
Closed Positions:
YNDX gapped lower this morning and tumbled further, taking out all recent support from the past few weeks to stop me out for a 3.7% loss. This was a disappointing downside reversal given the stock had held up so well of late, indicating it was ready to continue its uptrend of the past few months. However, defining my risk is what keeps me in the game, so I’ve booked the loss and will wait for a new setup before looking for another entry.
