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.
NUE triggered, TUMI & BIDU added
Open Position Notes:
X pulled back quickly from the open today, but was able to stabilize from there above my stop loss. The stock lifted slightly from its worst level of the day, and now finds itself back inside the wedge on the daily chart. Volume was light today, which is the positive I’m taking from this. I’ll leave my stop as-is for tomorrow’s session and will look to see if this one can reclaim the $29 level on the next bounce.
BLK turned nicely lower today on increased volume, and although the stock didn’t make a ton of headway to the downside, the daily chart is looking like a lower high is starting to confirm. I’d like to see the recent low undercut and then consider an adjustment, but for now I’m sticking with my existing trade parameters.
NUE triggered a short sale today as it broke the rising trend line at $38.85. The stock did finish just slightly above that level, but has a series of lower highs on the daily chart and therefore I’m sticking with the trade while waiting for some follow through. No stop adjustment for now.
Closed Positions:
No closed positions.
