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.
FCN stopped, BEN removed, FE added
Open Position Notes:
FDX pulled back again on Friday to validate my stop loss, but fortunately it held above it. The stock did rebound from its worst levels though, and therefore could be poised to bounce in the coming days after this light-volume pullback since the breakout attempt. I still like the setup and the prospects for the trade, so I’m going to stay with it for now.
WFMI bounced on Thursday but weakness returned on Friday. This one still has plenty of room to tumble, so I’m going to see if last week’s bounce attempt has truly failed, and if so, then I’ll expect to see some downside follow through very soon with a move toward the unfilled August gap.
Closed Positions:
FCN broke out from its pennant pattern and was looking very good, but the initial pullback since then has turned into an all-out downside reversal. The volume has increased and the selling has intensified, suggesting a change of character may be underway. I was stopped out of this one on Friday for a 2.3% loss, so I’ll stay away from it for now as it is no longer behaving in a bullish manner.
Gday,
A thanks to Omar! Fooling around with the bandit blueprint today and like it! The only addition I can see is a column for profit/loss after the trade is closed.
Thanks again.
Tom
Hey Tom,
Good to see ya! Hope the weekend treated you well.
Yeah it’s a pretty neat utility we now have at our fingertips, thanks to O-man, he did good! Would you mind doing a copy/paste of your suggestion and adding it to the Bandit Blueprint post (at this link)? That way all feature requests can be in one place.
Thanks again for posting your feedback. You eyeing any specific plays for the next couple of days?