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.

TSLA triggered & stopped

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

TSLA triggered a buy today as it crossed the upper trend line of the symmetrical triangle I pointed out in last night’s Broadcast, and initially we saw a nice pop.  The stock soon approached $34, but a pullback turned into a reversal and the stock headed south to stop me out for a quick 3% loss.  Today’s move constitutes a breakout failure, and particularly with the added volume on today’s bar I don’t like the looks of this setup.  I’ll keep it on watch in case it starts acting better, but with a nice initial breakout today turning into a failure, that’s not the kind of move I’d expect from a pattern of that nature.

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.

TSLA added

Open Position Notes:

No open positions – 100% cash waiting for entries to trigger.

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.

REG removed (pattern no longer valid, never triggered)

Open Position Notes:

No open positions – 100% cash.

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.

REG added

Open Position Notes:

No open positions – waiting for entries to trigger.

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.

ADTN & WLL stopped

Open Position Notes:

No open positions – back to 100% cash tonight.

Closed Positions:

ADTN has shown hesitancy to advance ever since it first triggered.  The first time it crossed $34 (last Friday), it failed to hold that level on a closing basis.  This week, on Monday it cleared Friday’s high, only to reverse lower on the day.  Tuesday we saw a rally, followed by more strength Wednesday, only to see it balk again and finish negative.  So last night, I tightened my stop due to this hesitancy, and today was taken out of the trade.  I feel great about making the adjustment, and exited with a smaller loss than I had originally prepared for, so for a failed trade, that’s alright.  I’ll keep it on watch in case it sets up again, but for now it clearly isn’t ready so I’m out with a small 1.7% loss.

WLL ran higher into Wednesday afternoon, pushing past Target 1, but an afternoon selloff erased much of the gains.  Last night I tightened my stop in order to lock in profits on the overall trade should the Wednesday selloff prove to be a warning signal, and today was taken out of the remainder of my trade as the stock faltered.  This one simply failed its breakout, so I’ll accept the 1.1% gain for a failed trade.  That’s nothing to be excited about, but this was just another example of how good money management can prove beneficial when a trade starts to send mixed signals.

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.

WLL Target 1 hit (1/2 position closed) & stop raised, ADTN stop raised

Open Position Notes:

ADTN pushed to new breakout highs today but a hard pullback in the final 75 minutes of the day erased the gains and left it negative on the session.  This one is still lingering near the breakout zone, but twice now it has started to make some headway only to revert back beneath resistance.  For that reason, I’ve tightened my stop tonight in order to reduce my risk in the trade, although I’d much prefer to see it make another attempt at an advance.  If it doesn’t, I won’t give up much due to this lack of commitment with the breakout.

WLL ran higher this morning with exceptional strength, pushing further away from the trend line it cleared earlier this week and exceeding Target 1 where I closed 1/2 my position for a quick 4.3% profit.  This afternoon, with the market suffering under some selling pressure, WLL saw profit-taking as well to erase a chunk of the day’s early gains.  I’ve tightened my stop tonight for remaining shares should this market tumble further, while still giving it a little breathing room in the short term.  I’d like to stick with it but the overall market will need to hold up in order for a run toward Target 2 to develop.

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.

ATI stopped

Open Position Notes:

ADTN pulled back this morning but held above my stop, then turned higher in the afternoon to clear the resistance zone once again.  I’m encouraged by this price action, although ideally it would happen on improved volume.  Nonetheless, I’m interested to see if this one can now find some upside follow through.  No changes to my stop.

WLL remained near the trigger price as it showed only minor gains on the day (as of this writing), and overall this stock still looks good.  Perhaps if it can make a multi-day high it can get going, so I’m going to stick with it for now with my existing parameters.

**Prices incomplete below due to my early posting this evening.

Closed Positions:

ATI headed lower at the open to trigger my stop, taking me out for a 3.7% loss.  The overall pattern still appears intact, however, so this was simply a case of having a stop too tight to begin with.  I’m going to keep this one on the radar in case it threatens a breakout again, as I may give it another shot due to this pullback coming on very light volume.  For now I’m out with a small loss.

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.

ATI & WLL triggered

Open Position Notes:

ADTN ran quickly higher at the open today, but couldn’t hold its ground and faded back to finish slightly lower on the session.  This one is still holding in the upper portion of its channel, so I’m going to stick with it for now.  I’m eager to see how it acts with some market strength, but for now the wait continues.  No changes to my stop as of yet.

ATI headed higher mid-morning to trigger a buy today, but volume wasn’t sufficient to sustain the breakout and the stock dipped back below short-term resistance by the close.  This pattern still looks constructive and I like the fact that if this first breakout failed that it happened on light volume.  I’ll leave my stop as-is for now and see if this one can get going again in the next couple of days.

WLL triggered a buy for me at the open today by gapping slightly through my intended entry level.  It was only a small amount though, so no position reduction was made (as per my Swing Trading Strategy).  Here again, volume was light on the breakout attempt and the stock finished modestly lower on the day, still near the trend line.  I’ll keep my existing stop in place for now and see if this one can make another attempt at a turn higher.

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.

ADTN triggered, ATI & WLL added

Open Position Notes:

ADTN triggered a buy on Friday with a quick jump higher, taking it from the low end of its short-term range up through recent resistance.  The stock finished the day slightly below the breakout point, although it posted its highest close since late-July on an increase in volume.  I’m going to give this one a bit more time to evaluate the price action before looking to make any adjustments, but I like how it respected its recent range last week and now is attempting to turn higher.  Let’s see if it can show some follow through in the days ahead.

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.

ESRX closed Wednesday

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

ESRX ran nicely higher from its trigger last Friday into Tuesday’s close, pushing through Target 1 (+5.5%) and had approached Target 2 before a gap down Wednesday stopped me out.  I had adjusted my stop Tuesday night aggressively, and was thus taken out of the 2nd half of this trade on Wednesday’s open at $47.32.  That gave me a net gain of 5.7% on the trade, which I’m pleased with for just a few days.  The stock has since entered pullback mode but may set up again, in which case I may relist it.  For now, I’m out with a solid gain and back to cash.