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.

ATPG triggered

Open Position Notes:

TIE moved higher off the open today, getting within $0.10 from Target 1, only to reverse and finish negative on the day.  I’m going to give this one a bit more time to see if today’s reversal is simply a headfake, so I’ll leave my stop as-is heading into Thursday.

ATPG triggered a buy today as it cleared the trend line shown in last night’s Broadcast at $13.75, and initially it moved well above that zone.  However, it backed off its best levels of the day to finish just slightly below the trend line.  Volume picked up only slightly with today’s strength, but not nearly as much as I would like to have seen.  I’m going to give this one another day to see if follow through arrives, but if it shows hesitation again, I’ll most likely look to raise my stop.

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.

ATPG added, TIE triggered, DRI stopped

Open Position Notes:

TIE triggered a buy today as it moved up through short-term resistance at the $20.55 level.  This one had backed away significantly on Monday, but I left it on the list in case it happened to return to strength in this fashion.  I liked today’s pickup in volume as well, and although it finished just a few cents above my trigger, it looks good for a continued push higher in the days to come.

Closed Positions:

DRI kept trying to break down in recent days, but just couldn’t get it done.  After a pair of inside days, it seemed last night as though the stock was gearing up for a move one way or the other.  Today we saw that indecision resolved to the upside as the strong market gave this one a lift.  I stopped out for a tiny 1.1% loss, which isn’t bad considering how stubborn this one was to move lower.  I’ll leave it alone for now, as it just doesn’t want to go and has no clear-cut pattern here.

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.

RYL stopped

Open Position Notes:

DRI posted its second straight inside bar today on the daily chart, staying within the confines of Friday’s trading range.  Today’s action surprised me in this stock though, as it had been showing some relative weakness, and then today in a weak market setting it simply held its ground.  I’ve tightened my stop for this one tonight in order to reduce my risk in this trade, but am still leaving it a bit of room to fluctuate if needed.

Closed Positions:

RYL triggered a buy on Friday, gapping slightly through my intended entry and only carrying a slight distance beyond that before reversing.  From there, the stock struggled, slipping lower into today to trigger my stop and take me out for a 3.6% loss.  Head fakes like this one are disappointing, but I still liked the risk/reward this setup offered.  I’ll keep it on the radar in case it sets up again, as I do think this stock has based sufficiently for a nice run from current levels if it is able to gather a little attention.

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.

RYL triggered, TIE added

Open Position Notes:

DRI edged higher on Friday in a rebound effort from Thursday’s lows, but the upside volume that accompanied it was quite poor.  I continue to like the overall price action in this stock, and am sitting tight in expectation of another decline.  Minor bounces on light volume and heavier declines on higher volume is just what I want to see, and so far, so good.  I’ll wait for better follow through before looking to make an adjustment to my stop.

RYL triggered a buy on Friday as it cleared resistance early in the session, actually gapping slightly through my intended price (as per the price shown in the grid below).  From there, the stock struggled to show any follow through, quickly falling back beneath resistance to finish negative on the day.  This kind of failed initial breakout is never an encouraging sign, but with a stop loss not far away, I’m going to stick with this one for now and see if it’s able to firm up in the coming days.  Should it happen to hit my stop, I’ll certainly abide by that and exit accordingly.

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.

RYL added

Open Position Notes:

DRI made new correction lows today since I entered this trade, finishing further beneath the trigger by today’s close.  The stock did bounce off its worst levels of the day, as did the market, but overall I continue to like the action in this stock.  A little acceleration here on the downside would go a long way, so let’s see what happens.  I’m sticking with my existing trade parameters heading into Friday.

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.

No changes

Open Position Notes:

DRI continued lower today, showing more relative weakness to the overall market.  I’m encouraged by this price action, and am looking for a move toward Target 1 in the next couple of days.  I’d like to see how the stock acts if Tuesday’s low ($42.72) is taken out tomorrow, but all in all this one is acting as it should so far and I like today’s decline on increasing volume to move back into the green as a short sale for me.  No changes yet to my stop.

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.

CREE stopped, DRI triggered

Open Position Notes:

DRI triggered a short entry today as it undercut the $43.20 level, and initially it turned lower from there with a breakdown.  However, with the market stabilizing, this one did too, and from there it went positive by the closing bell.  This looks like an initial failure of the breakdown, but with light upside volume accompanying today’s bounce, as well as the fact that Monday’s high was never approached, I’ll give it a bit more time before jumping to conclusions.  This one has shown some relative weakness of late, so I’ll stick with my existing trade parameters heading into Wednesday.

Closed Positions:

CREE turned higher today after respecting resistance on both Friday and Monday to stop me out for a 4.3% loss.  I’m not pleased with the result of the trade, obviously, but in hindsight I still feel the setup warranted the trade I took.  The stock has trended lower since the July high, and had not responded to the recent market surge.  I’ll keep this one on the radar in case it sets up again, as it still is lacking the technical positives it needs to put together a sustained move higher.

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.

IMAX removed (pattern negated), DRI added

Open Position Notes:

CREE turned away from the resistance zone it had approached last week, which is helpful since this one was so close to stopping out.  To see that area validated shows good technical respect by the stock, particularly since that’s where my adverse exit (stop loss) currently stands.  Today’s relative weakness is encouraging, but I’d like to see if this one can gather some downside momentum.  If not, it may simply be carving out a trading range, in which case I’d look to make an exit in a few days time.  For now, I’m staying with my existing trade parameters.

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.

IMAX added

Open Position Notes:

CREE bounced again Friday with the market pop and nearly took me out.  It came within just $0.10 of my stop loss before backing down slightly, and still stands just a short distance from my stop.  It could be that this one goes ahead and checks me out, but for now I’m still in and will see what happens with it.  This stock has exhibited plenty of relative weakness until the past two sessions, and it remains beneath former support (which is now serving as resistance).  So I still see a case for a short sale, but I won’t fight it if the stock reclaims former support.

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.

SPG stopped

Open Position Notes:

CREE bounced today, but held beneath recent resistance and volume was light.  While I don’t like the fact that it bucked the market trend for the day, I do still view this as a bearish chart which may just need a bit more time.  The stock had declined in the previous 4 sessions, and 5 of the past 6 sessions, and may simply have needed a relief bounce.  The next couple of days could prove pivotal for this one, so I’ll be watching closely for signs of weakness to return.  For Friday, I’ll stick with my existing trade parameters.

Closed Positions:

SPG broke out on Monday from a nice, clean bull flag pattern.  Tuesday it reached new highs, only to reverse and finish negative.  However, volume was light, just as it was Wednesday when it pulled back further.  This offered mixed signals with price contracting on diminishing volume, so with support approaching, I opted to stick with the trade to see if it could recover.  Today the stock continued lower, hitting my stop to take me out for a 2.8% loss.  Failures like this can be irritating, there’s no doubt about it, but they are part of trading and it could have been much worse in this case.  So, I’m out with a modest loss and will stand aside from this one as it’s no longer a bullish chart in the short term.