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.

MPEL, PPO, CROX & CAM closed – back to cash

Open Position Notes:

No open positions – 100% cash

Closed Positions:

MPEL jumped past Friday’s late resistance right off the bat this morning, but couldn’t hold it and subsequently saw some profit-taking kick in.  The stock hit my raised stop for a 9.5% gain on the 2nd half of my trade (after booking partial profits at Target 1 last week).  This gave me a net position gain of 8.8% (average of my 2 exits), which was a nice quick run.  This one is now acting a bit tired, so I’ll stand aside and see if it can set up again.

CROX continued higher this morning to hit Target 2 at $29 for a 9% gain on the 2nd half of the trade.  I had already booked partial profits at Target 1 last week, giving me a net position gain of 7.1%.  I’m now out of this one ahead of earnings which are due out this week, and am very pleased with how this trade worked out – exactly according to plan.

PPO has struggled to gain any traction so I raised my stop aggressively, and today that was hit at the open as the stock gapped lower before a reversal back up.  That handed me a very modest 0.7% loss, and I’m out of the stock ahead of its earnings announcement.  This one still has a shot at continuing higher, but I won’t gamble on earnings and therefore will leave it alone for now.

CAM has been moving quietly higher since triggering an entry last week, despite having earnings scheduled for this week (premarket Thursday).  I had raised my stop aggressively over the weekend, and today was stopped out at the open for a 2.9% gain.  That’s not bad considering this one only had a short amount of time to work.  I’ll keep an eye on this one and after the scheduled news passes I may look to revisit a play in this one since it looks to be starting a new uptrend.

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.

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.

MPEL Target 1 Hit (1/2 profit taken), all stops tightened

Open Position Notes:

MPEL continued higher today to push past Target 1, allowing me to close 1/2 my shares to book profits for a quick 8% gain.  This was the move I’ve been wanting to see before the end of the week (as noted here the past couple of nights), so it’s nice to see the stock do it on strong volume.  It did back off its best levels a bit, but at this point has made a nice run and deserves a rest.  I’ve raised my stop tonight for remaining shares using the gap from Tuesday as an area I’d now like to see held if a pullback happens.  That way I’m allowing it some room to fluctuate, locking in solid gains if it rolls over, and participating in a continued rally.

CROX has rallied well the past couple of sessions and got off to another solid start this morning, getting within spitting distance of Target 1.  However, the stock came under some profit-taking and slipped into negative territory.  That created a bearish engulfing bar on the daily chart, but on lighter volume, so it gave mixed signals.  Earnings are due out August 1st, so there’s still some time for this one to go.  I’ve raised my stop tonight to reduce risk in the trade in case today’s reversal finds follow through, but otherwise will stick with this trade if it simply needs a rest.

PPO rallied hard this morning but gave back a big chunk of its gains with some selling which followed.  It did post a gain on the session with some improved volume, but currently sits right near my entry price and thus has not made much progress.  I’ve raised my stop tonight to reduce my risk in the trade, but will still allow it some room to fluctuate.  A multi-day low at this point would take me out, as earnings are approaching August 1st.

CAM gained some ground today to challenge the early-July high, but wasn’t able to clear it.  Volume remains lackluster, and with earnings due out next week I’ve tightened my stop tonight in order to reduce risk in the trade.  This one still has a shot at pushing higher, but as earnings approaches I’ll continue to raise my stop aggressively.  I may look to make an early exit if the price action warrants it, but worst case I’ll stick with my stop loss should the stock happen to turn lower.

 

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.

MPEL & CAM stops tightened

Open Position Notes:

MPEL tested the waters on the upside this morning, went negative, then recovered to post a minor gain by the end of the session.  I continue to like how this one is acting right now, and am looking for a push toward Target 1 before the week is over.  I’ve tightened my stop tonight to breakeven just in case, as this one is doing well and I won’t let it evolve into a loss at this point.

CROX spent nearly all day in positive territory, tacking on almost 1%.  I’m encouraged by this follow through, particularly on a day when the overall market rested.  Target 1 is coming into view, and I’d like to see a push toward that area before the week is over.  Volume also improved again today, which is also positive.  A little more progress and I may look to adjust my stop.

PPO pulled back today to test the breakout area, finishing just a slight amount beneath that zone by the closing bell.  The positive was that volume was very light on the pullback, so I’m not reading a lot into today’s action.  I would like to see some follow through going forward though, so let’s see what happens.

CAM pulled back today to test the breakout zone, and was able to hold it on a closing basis.  Volume was down from yesterday’s advance, which is encouraging to see on a minor pullback.  I’d now like to see some upside follow through to really confirm this breakout and test sequence.  With earnings approaching next week, I’ve gone ahead and raised my stop tonight and will be using Monday’s low (ahead of yesterday’s opening gap) area as my stop.

Closed Positions:

No closed positions.