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.
CROX Target 1 Hit (1/2 profit taken), all stops raised
Open Position Notes:
MPEL ran again on Friday, adding to its already impressive week. It finished near its highs, and now is within 2% of Target 2. For that reason, I’ve aggressively raised my stop for remaining shares as this has been a great trade. With only a little further to the ideal finish line, there’s no sense in giving it much room to move against me should it happen to turn lower. Great price action.
CROX raised concerns on Thursday with a bearish engulfing bar, stalling out just a few cents shy of Target 1 before turning lower. However, that proved to be just a day of rest for the stock and it ramped nicely higher on Friday to make new multi-year highs. That took it through Target 1 where I booked a quick 5.3% profit on half my shares, and it finished higher. Volume surged, adding validity to Friday’s move and completely negating Thursday’s fake-out. I’m enjoying this move and have tightened my stop for remaining shares heading into Monday now that the stock has continued north.
PPO continues to sit idle since clearing the trend line this past Tuesday, and the volume isn’t helping. This isn’t so much a failed breakout as it seems to simply be a stall-out, possibly due to earnings coming in about 10 days. I’ve tightened my stop again to further reduce risk in the trade since the stock just isn’t moving at this point. If it turns higher, great, but if it happens to weaken it won’t cost me much.
CAM picked up some good ground on Friday, tacking on more than 2% on expanding volume. That’s a new multi-month high for the stock, and I’m now watching for a push to the targets before closing this one out ahead of earnings which are due out on Thursday morning. I’ll be out of this trade no later than Wednesday’s closing bell. I may look to make an early exit if the price action warrants it, so keep an eye on Twitter and email for a possible notification. An aggressively raised stop will be in place just in case.
Closed Positions:
No closed positions.
