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.
ATPG closed, EJ triggered
Open Position Notes:
EJ triggered a buy this morning as it cleared the trend line at $19, and initially it found some follow through. However, the stock sagged soon after, slipping back beneath the trend line by the closing bell. This gives today’s attempt at a breakout the look of a failure. While many of the first-day failures like this end up getting stopped out, some of them do go on to make good moves. My stop isn’t far below, so I’m going to leave it as-is heading into Tuesday and see what happens.
Closed Positions:
ATPG vaulted higher today, moving easily through Target 1 on the way up (where I closed 1/2 my position for a 5.8% gain). It neared Target 2 late in the day, but with the market starting to falter a bit and the stock getting somewhat extended, I decided to close out the 2nd half at $15.35 for 11.6%. This gives me a net 8.7% gain for the trade in just a few days time, which is great. I’ll keep this one on the radar in case it sets up again for another run.
