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.
MTW triggered, JPM triggered & stopped
Open Position Notes:
MTW triggered a short sale this morning as it gapped slightly through my intended entry price, and it showed some nice initial weakness. The downside was limited though, and a relief bounce followed into mid-day. Some selling pressure returned in the afternoon, bringing it back to within a few cents of my entry price by the closing bell. I’m sticking with my existing stop loss heading into Thursday, allowing this one some room to bounce if needed while waiting to see some downside follow through.
Closed Positions:
JPM triggered a short sale this morning on the open, gapping slightly through my intended entry price and heading lower initially. However, as the market stabilized, this stock did too, and a bounce followed. With a pretty tight stop already in place, I was taken out of this trade for a 2.7% loss, and will step aside for the time being. This one still appears in danger of lower prices, but today’s reluctance to drop suggests I’m early so I’ll keep it on watch for now.
