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.
LEAP triggered, stop raised, Target 1 Hit. FMCN triggered & stop raised. FLS & WYNN removed, INFA added
Open Position Notes:
LEAP triggered a buy this morning as it crossed the trend line at $17.85, and it never looked back. Volume picked up along with the strength, pushing the stock to new recovery highs from its November low. Today’s move took the stock not only through Target 1 where I booked 1/2 profits for a quick 4.5%, but it also nearly reached Target 2. I’ve raised my stop tonight rather aggressively given the short distance from here to Target 2, and in order to lock in a solid winner should today’s move happen to falter, but so far this one is acting great.
FMCN triggered a buy this morning as it cleared its trend line at $16.20, and although it was able to push solidly higher, the volume wasn’t quite what I’d have liked to see. Nonetheless, the stock is showing nice relative strength and turning higher after a multi-week pullback, so I’m going to tighten my stop to today’s low and see if it can build on today’s strength.
Closed Positions:
No closed positions.
Jeff, nice pick on LEAP. I believe the adjusted stop is still listed at 17.10, which would be the original stop price. Did I miss something ? Thanks, Gary
Hope you caught some with me Gary! Sorry about the stop adjustment oversight, it has been corrected and thank you for the heads-up.