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.
CSX closed, SWK & MOLX stops raised
Open Position Notes:
SWK gapped higher and continued north on Friday morning, reaching new 52-week highs in the process. The stock nearly reached Target 1, but backed off a bit in the afternoon. I like how it held the morning gap, and this one could easily push past Target 1 in the next couple of days. I’ve raised my stop tonight in order to reduce my risk in the trade and lock in a modest gain if it happens to reverse, but otherwise I’m giving it a little room to breathe while I wait for my targets.
MOLX edged a bit higher on Friday to reach a new 52-week high and build on its breakout. I’m still using the uptrend line as my stop for now, and have raised my stop accordingly while waiting for Target 1 to get hit.
Closed Positions:
CSX tested the $75 level on Friday for the 3rd straight session, but backed off to hit my stop for my remaining shares at $74.50. So, I’m out with a solid 4.3% gain, and will keep this one on the radar in case it sets up for another play. It was nice to capture a $3 move right through the trigger, but it’s also wise to ring the register when a stock has repeated trouble clearing a level.
