Hit List 2-23-2010

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.

UA, TIF, PBR, LAMR triggered

Open Position Notes:

UA triggered a short entry for me today as it undercut the rising trend line at $25.40.  Volume picked up slightly with today’s selling, so the stage is now set for this to confirm a lower high.  I’m going to leave my stop loss as-is and see if this one can make further progress before looking to adjust.

TIF triggered a short sale for me today as it undercut its rising trend line at $43.10.  This one appears to be rolling over on the daily chart, but so far hasn’t made a lot of progress from my trigger price.  I’m going to leave my stop loss as-is for now and see if some follow through arrives in the next couple of days before I look to adjust it.

PBR triggered a short entry today as it undercut its rising trend line at $42.10, and volume picked up substantially with today’s selling.  This opens the door for continued weakness in the days ahead on a technical basis, but I realized this evening that earnings are due out on Friday of this week.  For this reason, I’m moving my stop loss to breakeven, and will look to exit on weakness sometime during the next 2 sessions.  Watch for an update on Twitter, email, or here in the comments.

LAMR triggered a short sale for me today as it broke its rising trend line at $30.20, and volume picked up on this one today as well.  Technically it now looks poised for additional weakness, but I realized this evening that earnings are due out on Thursday morning before the opening bell.  For this reason, I’m moving my stop loss to breakeven, and will look to exit intraday on Wednesday.  Watch for an update on Twitter, email, or here in the comments.

Closed Positions:

No closed positions.