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.

FISV & IPXL & CNQ stopped

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

FISV triggered a buy last week but made very little upside progress, instead lingering right around the breakout zone as it continued to consolidate near highs.  However, Friday’s market weakness impacted this one, and it turned decisively lower to hit my stop and take me out for a very minor 0.7% loss.  For a failed trade, this is about as small a loss as is possible, so given the breakdown which just took place I’m pleased to be out with minimal damage.

IPXL ramped higher early last week to push past Target 1, and I was giving it some room to fluctuate even after raising my stop on Wednesday for remaining shares.  Friday’s weakness took this one right down to hit my stop, taking me out of remaining shares for a $0.75 gain on the 2nd half.  On a net basis, this trade offered a 4.5% gain, so I’m out for now and will wait for a new setup before considering another entry.

CNQ opened weak on Friday and was starting to break down with the market, but it shifted directions mid-morning and ripped higher, hitting my stop to take me out for a 2.8% loss.  Taking a loss is never fun, and while this one was well contained, it was a bit irritating that it moved up so much in the face of a weak market.  Energy was one of the bright spots though, and sometimes that happens.  This one appears to be breaking higher after a few weeks of indecision, so I’m going to leave it alone for the time being after this failed breakdown.

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.

No changes

Open Position Notes:

FISV struggled to make headway today after a poor start took it negative, but the lows of the session were set in the morning and the stock battled back to finish essentially flat on the day.  I’m still viewing the daily chart of this one as a consolidation within an uptrend, so although the progress has been limited I still like the setup here.  My stop has already been raised once, so I’ll stick with my existing trade parameters until this one either makes bigger strides or begins to change character.

IPXL consolidated nicely today on lighter volume, which is a very healthy way to digest yesterday’s big run.  I liked the fact that the stock still finished higher by 1 cent, not for the incremental gain but simply for the psychological aspect that even on a rest day it posted a gain.  I’ve already booked 1/2 my profits in this one and have raised my stop for remaining shares, so I’ll stay with it while waiting to see if a push toward Target 2 comes along.  So far, so good.

CNQ gapped slightly lower today and held the gap, which was encouraging after yesterday’s afternoon run.  This one had finished not far from my stop as of last night’s close, so to see it come back in today is nice.  I also liked the fact that today it actually sold off a bit intraday, finishing lower than where it opened on the weak gap.  Regardless, it needs to get back down beneath the $42 whole number to confirm Tuesday’s breakdown, so I’m staying with it and doing my best to be patient while the battle continues between buyers and sellers.

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.

BWA stopped, MTL removed (pattern failure), IPXL Target 1 hit, FISV & IPXL stops raised

Open Position Notes:

FISV struggled to participate in today’s market strength, spending most of the morning slightly underwater before recovering slightly this afternoon.  The stock still finished about flat on the day, and given the lack of follow through here, I’ve raised my stop tonight as a protective measure.

IPXL continued its strength today, popping big this morning to rip right through Target 1.  I booked 1/2 profits there for a nice quick 6.7% gain, and tonight I’ve raised my stop for remaining shares.  I’m still giving it some room to fluctuate and it may need to rest a bit here, but I like the price action in this one and will be watching for further upside in the days to come.

CNQ gapped up this morning and then sold off to turn negative, but it didn’t stay in the red for long.  The stock turned higher mid-day, and rallied strong into the closing bell.  It finished just a short distance from my stop, so I’ll abide by that level tomorrow and exit this trade if the stock pushes through my stop.  The lack of downside follow through is a little irritating, but I’m going to stick with it for now and perhaps it will weaken again over the next few sessions.

Closed Positions:

BWA triggered a short entry yesterday as it undercut support, but the stock recovered by the closing bell.  I noted last night that I’d have preferred to see it finish below that level, and that proved to be a warning signal that this one isn’t ready to crack.  Today it rallied sharply to stop me out for a 3.7% loss.  I’m going to leave this one alone for now since it clearly needs more time with the mixed technical signals it’s giving.

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.

BWA & CNQ triggered, MGA removed (pattern failure), MTL added

Open Position Notes:

FISV gapped lower this morning and sold off well into negative territory, but hung in there nicely and recovered almost entirely by the end of the day, finishing down just 2 cents.  This is very positive price action, and I’ll be watching for some upside continuation in the days to come.  I like how the stock respected yesterday’s lows and the intraday recovery, indicating there are some dip-buyers present.

IPXL recovered quickly from a weak start to the day, turning higher by mid-morning and staying positive for the remainder of the day.  It also closed on its highs of the session, suggesting it’s ready to challenge last week’s highs.  Volume improved today from yesterday’s levels, but could still stand to increase on further strength in the stock.  Good price action so far, I’m going to leave my current stop as-is heading into tomorrow’s session.

BWA triggered a short sale today as it undercut support at $67.50.  However, the stock was able to reclaim that level by the close with the market lift which occurred this afternoon.  I’m going to stick with this trade for now and see how it acts in the days to come.  I still think it has the appearance of a stock that’s itching for lower prices, but support will need to be broken again for that to occur – let’s see what happens.

CNQ triggered a short entry right at the open today as it gapped through my intended trigger price by 3 cents (hence the $41.97 listing on the position grid below).  The stock exhibited some nice weakness today, giving it a somewhat decisive break below rising support for the time being.  And despite the market rebound this afternoon, this stock didn’t recover much, which I was encouraged by.  I’ll be watching for follow through in the coming days.

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.

FISV & IPXL triggered, MGA & CNQ added

Open Position Notes:

FISV triggered a buy today as it cleared the small trend line at $62.30.  From there, it never hesitated to move higher, and gained strength for several hours before backing off slightly in the final 90 minutes of trading.  This took the stock to new highs, which I’m encouraged by.  I would have preferred stronger volume on today’s breakout, but price is most important and it made a solid move higher today.  I’ll now be on watch for follow through in the days to come.

IPXL triggered a buy today as it turned back up and cleared Friday’s highs, signaling it’s ready to advance again after testing support (former resistance).  Volume could have been more impressive today, but I’m willing to stick with this trade for now and see if it can bring some follow through in the coming days, as I do still like the overall price action.

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.

FISV & IPXL & BWA added

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.

RCII closed – 100% cash

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

RCII continued lower this morning as it gapped down, opening a few cents below Target 1 where I closed 1/2 my position for a nice 4.2% gain.  From there, the stock ticked only slightly lower before reversing back up, hitting my adjusted stop from last night to take me out of my remaining shares at breakeven.  So, I’m out of the position with a net gain of 2.1%.  It’s not impressive, but for a stock to have changed directions so sharply as this one did today, I’ll take it.  At this point I’ll wait for a new pattern to set up before considering another entry.

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.

APKT stopped, OPEN removed (pattern negated, no trigger), RCII stop tightened

Open Position Notes:

RCII continued lower today as it undercut Tuesday’s low, getting within just 5 cents of Target 1 before bouncing slightly into the close.  This stock is acting weak, and I’m encouraged by the price action here.  I’m going to be looking for a move down through Target 1 tomorrow, and have adjusted my stop tonight to breakeven for this trade now that it’s getting underway.  That leaves it some room to bounce and/or fluctuate if need be for Thursday.

Closed Positions:

APKT made a quick attempt to head higher off the open this morning, but quickly turned lower and never looked back.  The stock undercut Tuesday’s low and then hit my stop to take me out for a 3.2% loss.  I’m glad to be out, as the stock has now technically broken down and continued to come under pressure for the remainder of the session, shedding nearly 7% on the day.  I’m out and will leave this one alone for a while due to today’s abrupt change of character.

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.

RCII triggered

Open Position Notes:

APKT made a multi-day high this morning, only to reverse into negative territory where it stayed for the remainder of the day.  The stock tested multi-day lows and held, but stubbornly sat in the red while the NAZ continued to grind its way higher.  Today’s action in the stock sends some mixed signals in that I would have expected to see this stock rally with the market today, and yet it didn’t break down when given the chance to.  I’m going to stay with my existing parameters heading into Wednesday’s session, paying particular attention to the range of the past 5 sessions.

RCII triggered a short sale today as it broke the lower rising channel line to begin a new leg lower.  The stock finished off its worst levels of the day, but still below the trend line, which is most important to me.  Volume also picked up with today’s selling, indicating some urgency by some folks to exit on this technical breakdown.  I’m going to leave my trade parameters as-is for tomorrow while waiting to see if this one can show some follow through and head toward Target 1.

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.

OPEN & RCII added

Open Position Notes:

APKT recovered nicely on Friday from a slippery start as it tested the downside early in the session before finishing essentially flat on the day.  Although I would have preferred to see a rally in the stock alongside the overall market, I did like how it battled back.  The daily chart still looks poised for further upside, and Friday showed there are dip-buyers in the stock, so I’ll stick with it for now before looking to make any adjustments.

Closed Positions:

No closed positions.