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.
NTES closed, GDX & NEM added
Open Position Notes:
STP started turning higher on Thursday and Friday after testing support, and this one still looks like it has plenty of room to run. We have yet to see good upside momentum, but I’m staying patient with this one because the pattern is so encouraging. For now, it’s in the green, so I’m going to stick with it and watch for follow through in the days ahead. If it continues to struggle, I’ll begin making adjustments to my stop loss.
Closed Positions:
NTES hit Target 1 on Thursday last week and was very close to reaching Target 2 heading into Friday, so I aggressively raised my stop loss for remaining shares (1/2 position) in case the stock happened to weaken. On Friday morning, my stop was triggered on the open to take me out of the 2nd half of the trade at $36.39 for a 6.4% winner. This one required some patience, and it paid off, but now the stock is encountering some technical resistance so I’ll stand aside until a new pattern emerges.
