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.
FLIR closed, WFT triggered, PWRD triggered & stop raised
Open Position Notes:
RAX was back and forth today, unable to exhibit any lasting momentum. Wednesday’s morning high served as intraday support, and ultimately it gave up just a few cents. I’m still waiting on this one with only a partial position left and a raised stop while we see if Target 2 can get hit. Today’s action appears to be a day of consolidation, so I’m not reading too much into it.
WFT triggered a buy today as it cleared the trend line at $21 to reach new multi-day highs. This helps to confirm what appears to be a higher low on the daily chart, so I’m going to be watching for continuation in the days ahead. I’m leaving my stop as-is heading into Friday and will wait for more progress to be made before looking to make any adjustments.
PWRD triggered a buy this morning after gapping just a few cents past my trigger price, and from there the stock behaved quite well. Volume surged with the trend line break, and we saw a couple of intraday spikes followed by some quiet basing action. I’m watching for a push to Target 1 in the next couple of days, and so far like the start this one is off to. I’ve raised my stop tonight in order to reduce my risk should this breakout happen to fail.
Closed Positions:
FLIR pushed to new highs this morning but faltered after profit-taking kicked in. This one triggered my raised stop for remaining shares, so I closed out this one for a 3.98% gain. It’s acting a bit fatigued here, so I’ll keep it on the radar in case it sets up for another play.
