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.


VMW, WMS, STT triggered, VMW Target 1 reached, PCL & MSG & VMW stops raised

Open Position Notes:

TMK edged higher again today, but momentum still hasn’t returned since the early-March run.  Volume improved, but remained below-average.  I had expected the last pullback to be followed by another pickup in strength, and although price has moved higher, it’s doing so at a snail’s pace.  My stop has already been raised once, so I’m sticking with that heading into Tuesday.

PCL made a new high again today, although it wasn’t able to make any meaningful strides.  It finished down a few cents on the day with light volume, still unable to get well clear of the resistance zone it just recently crossed.  I’d like to see follow through soon in this one, as it certainly has potential, but the longer it lingers here, the less I’m starting to trust it.

CAG turned lower today on increased downside volume, again staying beneath its recent bounce highs.  This may prove to be the beginning (again) of a turn lower from this possible failed bounce, so I’m doing my best to stay patient for now while waiting for a favorable move to unfold.  I’d like to see last week’s lows taken out in the next day or two.

MSG continues to trade with very light volume, which isn’t serving me well on a couple of fronts.  First, it’s preventing any lasting upside, as there simply is no “fuel” to the buying efforts we’ve seen.  Second, the thinly-traded price action makes for sudden moves which can emerge at any time, leaving me a bit uneasy with this position at the moment.  I’ve tightened my stop tonight, and will be watching this one closely in case a further adjustment is needed.

VMW triggered a buy this morning on the open with a gap through my trigger price of $0.30.  the stock did ramp higher from there, running all the way to Target 1, where I booked 1/2 my profits.  The stock was able to push a little higher, but ultimately settled into a trading range for the remainder of the day, maintaining most of its early progress.  I’ve tightened my stop for remaining shares on this one after today’s move, and will be watching for follow through in the coming days.

WMS triggered a buy today as it pushed through the $45 level, showing some modest follow through on this initial breakout.  Volume picked up, but I’d like to see some follow through soon to get this stock on the run and accelerating higher in the coming days.

STT triggered a buy this morning with a move up through $47.50, clearing multi-month resistance on increased volume.  This is technically a very encouraging event, so I’ll be looking for some follow through rather soon on the heels of today’s breakout.

Closed Positions:

No closed positions.

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.


VMW, WMS, STT added

Open Position Notes:

TMK started to turn back up on Friday from its mid-week dip, although volume was light with Friday’s bounce.  This one is still holding above the breakout area on a closing basis, which is good to see, but I’d like to see this second attempt at upside produce some gains rather than more stagnation.

PCL pushed higher on Friday to end the week at new highs.  Volume picked up along with the strength, which is encouraging.  This one seems to now be back on the move after some initial hesitation, so I’ll be watching for follow through in the days ahead.

CAG ended the week up a few cents on very light volume, still appearing poised on the daily chart for this bounce to fail.  I’m sticking with my existing trade parameters for now while waiting for this one to turn back down.

MSG nudged slightly higher on Friday to make a new high, although volume remains light.  That’s most likely the reason this one isn’t popping yet, but I still like the setup and am exercising patience for now.

Closed Positions:

No closed positions.

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.

CNW & PCL stopped, MSG triggered

Open Position Notes:

TMK pulled back this morning, stabilizing just above my stop loss level before a gradual recovery took place later in the day.  This validates my current stop, but I’d like to see the stock show some upside follow through at this point in the trade.  The indexes were positive today, so this one lagged.  Let’s see if it can get back up and challenge the highs in the coming days.

PCL painted an inside day on the chart as it respected Wednesday’s trading range on light volume.  This stock is still just consolidating right near the breakout zone, so I’m still awaiting follow through.

CAG finished the day little-changed, still hovering beneath Monday’s highs.  This one still appears poised for some downside, so I’m staying with it and being patient for now.

MSG triggered a buy this morning right at the open with a move through $22.15, although the majority of the day was spent just beneath that level.  It finished the session just a few cents shy of resistance, but still appears poised for a push higher from this consolidation.  I’ll be watching for follow through on Friday.

Closed Positions:

CNW sold off this morning to reach new pullback lows, taking me out of the trade for a 3.8% loss.  The stock did recover from there to finish positive on the session, which is frustrating to see.  Getting head-faked out of trades is never fun, but it happens with my style of maintaining tighter stops.  I’m out for now, and will keep this one on watch in case it can start to shape up for a run at resistance.

GGC broke out in style on Tuesday, but showed no follow through whatsoever on Wednesday or today.  The stock actually moved back down by nearly 4% today, stopping me out of the trade at my entry point for a breakeven trade.  With a nice winner after day 1, I wasn’t willing to let this one turn into a losing trade, but I didn’t expect it to give back all its gains right away either.  So I’m now out of this stock with no harm done, and will avoid it for the time being until it can exhibit some better strength and follow through.

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.

GGC stop raised

Open Position Notes:

TMK pulled back today on light volume, filling the gap from last Friday exactly to the penny.  This is healthy price action, and the stock is still maintaining its breakout, which is positive.

PCL gave back a little ground today, but stayed within Tuesday’s trading range.  Volume did expand today, which is a slight concern, but for now this one is still holding slightly above the breakout zone, so I’m going to stick with it for now.

GGC pulled back early today, but was able to recover for the most part and finish lower by only a few cents.  Volume on today’s dip was light, which is encouraging.  This stock still looks poised for further upside in the days ahead, so I’ve raised my stop loss to breakeven for now.  That should allow it plenty of room to fluctuate for now while not allowing this winner to turn into a losing trade.  If some follow through is seen soon (and particularly if Target 1 is reached), I’ll look to make another adjustment.

CNW triggered a buy Tuesday but still has yet to show any follow through.  Today the stock spent another session inside the channel, giving up a slight amount on light volume.  I’m going to be patient for another day or two and see if this one can get back on the move.  If not, I’ll look to make an adjustment.

CAG bounced slightly today despite the market weakness, which is not ideal to see for a short sale.  I would have expected this stock to participate in the downside, but it rallied back up to fill Tuesday’s gap on lighter volume.  My stop is in place for this one, so I’ll leave it as-is for now while waiting for some follow through.

Closed Positions:

No closed positions.

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.

GGC & CAGtriggered, TMK stop raised, MSG added

Open Position Notes:

TMK edged higher today after some morning indecision, but what I liked most was that volume improved.  This one has been acting overall pretty well since triggering, but the lack of volume has been a concern to me, so today’s improvement in that realm was a welcomed sight.  I’ve tightened my stop on this one slightly while waiting for more follow through with a push toward my target.

PCL started the day on a weak note, but quickly recovered and spent the remainder of the session in positive territory, finishing right near its highs of the day.  Today’s move to a new 52-week high was encouraging, so now I’m waiting for a move toward my targets in the coming days.  I’d like to see price continue higher soon to get well clear of the handle area of the cup & handle pattern, but overall I like the action here so far.

GGC triggered a buy today as it hit $19.15, and this one really acted well today.  Volume surged higher with today’s important breakout, and price now looks poised for follow through.  Target 1 was nearly hit today, but price stopped just shy of that level.  Virtually any follow through in the coming days should allow this stock to push through there, so I’ll be watching for that possibility tomorrow.

CNW triggered a buy today as it cleared the upper channel line at $36, but volume was somewhat light and didn’t allow for much initial follow through.  The stock slipped back into the channel, but still outperformed on the session.  I’m going to stick with my existing trade parameters for now while waiting for some additional strength to arrive.

CAG triggered a short sale today by undercutting the lower rising trend line of the bearish wedge on the daily chart at $25.  This one didn’t show a lot of downside follow through, but it did remain negative on the day.  I still like the looks of this chart for lower prices, so with a pretty tight stop already in place, I’m going to leave it as-is heading into Wednesday.

Closed Positions:

CBL continued higher today on the heels of yesterday’s rally, taking this one right up to my target.  The stock was hesitating just a few cents shy of the $15.40 level (where I had planned to book profits), so I rang the register at $15.30 for a 7% winner in 2 days.  The stock ran into resistance in the area of the previous high (as anticipated), and now may need to base for a little while.  I’ll keep it on the radar in case it sets up for another entry.