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.

BEAV stopped

Open Position Notes:

VSH held up rather well today despite giving back some ground.  I was rather pleased with the relative strength it showed compared to the market, but this one still has some proving to do.  I’d like to see it produce some upside follow through no later than the next market advance, and will stick with my existing stop loss to give it a bit of breathing room heading into Wednesday’s session.

Closed Positions:

BEAV triggered my raised stop loss at the open today as it gapped lower to take me out for a $0.01 loss.  The stock had cleared the decending trend line with a nice initial push higher, but since then hesitated to produce follow through.  Today’s broad market weakness was simply too much for it to fight, so I’m now out of the position for essentially breakeven.  I’ll keep this one on the radar in case it sets up for another trade.

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.

VSH triggered, IVN added

Open Position Notes:

BEAV tested the $36 level this morning, just a few cents from last Thursday’s high, and backed off into early afternoon.  From there, the stock was able to stabilize and finish off its lows, but volume picked up on the downside and that isn’t ideal.  I’m sticking with my stop loss for now, and would be encouraged to see this one mark a multi-day high soon.  That would indicate more upside to come, but currently the stock is consolidating and I’m doing my best to remain patient.

VSH triggered a buy today as it cleared $14.05, but once again the volume failed to expand along with the rise in price.  This one finished just a few cents from my entry, so I’m going to stick with it for now.  This is a pattern I like, but stronger is likely needed in order for this one to gather some upward momentum.

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.

MFC stopped, VSH added

Open Position Notes:

BEAV tested the downside Friday but was able to recover most of the way, giving back just a dime on the session.  Volume was very light on the pullback, which is encouraging.  I also like the fact that Friday’s bar was an inside day, and often times those prove to be continuation bars.  I’ve already tightened my stop (as of Thursday), and will stick with my existing trade parameters heading into Monday while awaiting follow through.

Closed Positions:

MFC triggered my raised stop on Friday to take me out for a very modest 1.3% loss.  This stock had gapped slightly through my intended entry on Thursday and was able to finish higher on the trigger day, but the upside volume was lacking and I noted that as a concern in Thursday’s Hit List notes.  Because of that, I raised my stop to reduce risk on the trade, as light-volume trend line breaks have a higher failure rate.  So, I’m now out of this position but will keep an eye on the stock in case it sets up for 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.

LZ stopped, MFC triggered & stop raised, BEAV stop raised

Open Position Notes:

BEAV showed some very nice continuation today as it rallied 2.5% on the heels of yesterday’s trend line break.  Stronger volume would have been ideal, but today’s follow through is encouraging and I’ll be watching for an attempt at Target 1 in the coming days.  With that level not too far off, I’ve raised my stop tonight to breakeven now that this one appears to be pivoting higher.

MFC triggered a buy this morning as it gapped just a few cents past the trend line to turn higher after the recent pullback.  The stock was able to make some additional progress from there, although I’d have preferred to see stronger volume accompany the move.  Nonetheless, I’ll be watching for some continuation in the short term now that the minor dip has been met with more buying.  I’ve also adjusted my stop tonight in order to reduce my risk in the trade slightly.

Closed Positions:

LZ rallied this morning with the overall market, climbing just high enough to exceed my adjusted stop to take me out for a breakeven trade.  I was doing my best to allow this one some room to fluctuate, but at the same time didn’t want to allow a decent winner turn into a losing trade, so my breakeven stop looked adequate after the past couple of days’ action.  Regardless, I’m out for now but will wait to see if another technical entry sets up, and if so I’ll have it in the Broadcast.

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.

BEAV triggered, MFC added

Open Position Notes:

LZ attempted to rally today for a little while, but in the final hour came under pressure again to finish in the red.  I continue to like the price action in this trade, as the stock is struggling to catch a lasting bid and still looks headed for lower prices.  I’ve already adjusted my stop to breakeven, and will look to make another adjustment if and when Target 1 is reached – and that’s not far away.

BEAV triggered a buy this morning as it turned up through the descending trend line which had been marking the pace of the recent pullback.  Today’s advance through the $34.60 level points to a short-term turning point, and the stock now appears free to rally in the short term.  I’ll be watching this one closely and will make adjustments along the way, but I’m pleased with today’s action.  If we see some decent follow through in the next couple of days – particularly on expanding volume – I’ll look to adjust my stop at that point in time.

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.

BBT removed (no trigger, pattern negated)

Open Position Notes:

LZ sold off steadily this morning into mid-day, where it ultimately stabilized to spend the final few hours of the day in a choppy trading range.  This one got pretty close to Target 1, but bounced slightly before reaching that level.  I’ve tightened my stop tonight in order to reduce risk in the trade now that it’s beginning to weaken further, and I’ll be on watch for continuation in the days to come.

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.

BBT added

Open Position Notes:

LZ rallied big early in the session today, but ultimately retraced the bulk of it in the afternoon.  That gave today’s intraday chart a big rainbow-like appearance, which suggests the stock again met resistance and faltered.  I’m encouraged by this price action, but would like to see some downside follow through now that we’ve seen a trigger, a decline, and what may have been a failed bounce with today’s action.  I’m sticking with my existing trade parameters heading into Tuesday.

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.

EAT removed, LZ triggered, IVN removed (pattern failure – no trigger)

Open Position Notes:

LZ triggered a short entry on Thursday as it broke $107, but it wasn’t until Friday that it started making some headway.  This one appears to be in the process of carving out a lower high on the daily chart after a weak bounce to fill most of a gap from a few weeks ago, and I’m watching for follow through in the coming days.

Closed Positions:

EAT stopped me out on Thursday as the stock rallied in the face of a declining market – something I didn’t expect given the technical condition of the stock.  Nonetheless, I stuck with my stop to close out this trade for a 3.2% loss, opting to respect the action in the stock rather than try to fight it.  The stock came right back down on Friday, but at this point isn’t acting like it wants to break down hard, so I’ll leave it alone for now.

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.

IVN added

Open Position Notes:

EAT churned for most of the day today before an afternoon lift took it into positive territory by about 1% on the session.  This stock remains near my entry, and at this point I’m just being patient with the trade.  Short sided plays have required a bit more patience in this market with all the widespread strength out there, so I’ll leave my stop as-is for now and look to make some kind of adjustment once the price action warrants it.

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.

RRC  closed (Targets Exceeded)

Open Position Notes:

EAT sold off right after the open this morning, and while the stock did stabilize for the final few hours of the day, it finished just a few cents off its lows of the day.  I continue to be encouraged by the price action in this trade, and I like the progress it’s starting to make.  I’m expecting to see some follow through toward Target 1, which would coincide with a test of the October low.  Perhaps that will take place in the coming days.  Today’s move helps to further solidify the appearance of a lower high on the daily chart, which is nice to see as this stock resumes its correction.

Closed Positions:

RRC moved higher through resistance on Monday, and I noted last night how I liked the action for a number of reasons.  I didn’t see today’s move coming, however, as the stock gapped higher this morning to open beyond Target 2.  I booked the winner for a fast $3.65 – a 9.2% gain.  The stock did move a bit higher off the open but then backed off into the afternoon, so I’m pleased with the exit.  The idea is to keep capital rotating from one play to the next, and once the move is caught to ring the register and move on.  This one allowed me to do that quickly, which is always fun!