Swing Trading and momentum investing stock pick newsletter and swing trading service.
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
No open positions, 100% cash.
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.
ECA added
No open positions, 100% cash.
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.
100% Cash
No open positions.
INTU opened higher on Friday along with the overall market, but after some initial strength began to fade. For a stock which was showing such great momentum in August, I had been expecting this one to recapture some of that momentum if the market could strengthen. Well, we just saw an excellent 3-day market move, and this one lagged. So on Friday as strength was starting to get sold, I closed this position out at $44.10 for a $1.20 winner, or a 2.8% gain. That’s not bad, but it wasn’t what I had expected to see. Anytime a stock should be exhibiting stronger momentum and for some reason is not, it’s a sign to lighten up at the very least. And with the indexes having reached key resistance zones, I opted to close this one out and head into the long holiday weekend in cash.
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
INTU continued higher today with another solid gain, and now the only level overhead is the high from two weeks ago. I’m pleased to see this one showing follow through by leaving the consolidation zone behind it, so let’s see if Target 1 can get hit ahead of the weekend. If so, I’ll look to take 1/2 profits and then make an adjustment to my stop for remaining shares ahead of Tuesday’s session. Good price action so far though.
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.
LLL & ZMH stopped
INTU showed some nice strength today alongside the market, and I was most encouraged by the fact that it made a multi-day high to start clearing the consolidation area of the past week. I’ll be on the lookout for a push to Target 1 in the days to come, but after a couple tests of support in recent sessions, it’s nice to see this one moving higher.
LLL turned higher today to hit my tightened stop, taking me out of my remaining shares. My net on this trade was 3.2% gain, which is fair for a slower mover like this one. I feel good about how the trade was managed, and it’s nice to walk away with a solid gain after a sharp turnaround like we saw today. I’ll now stand aside from this stock and wait for a new pattern to set up before considering another entry.
ZMH gapped higher this morning and continued to advance, taking me out of this short sale for a modest 1.9% loss. While the loss is disappointing, particularly given the weak finish in the stock today, I don’t want to be caught short in a market which may be pivoting higher. So, I’m out for now and will wait for a new pattern to emerge before taking another look at this one.
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.
ZMH triggered
LLL declined further today to reach new correction lows, and although it bounced from its worst levels of the day, I am very encouraged by this price action. This trade has already reached Target 1 (where I closed 1/2 to book gains), and now it’s heading lower toward Target 2. I’ve adjusted my stop for remaining shares again tonight, leaving it a bit of room to fluctuate if needed, but the new lows today bode well for this short.
INTU displayed some nice relative strength today, holding above support on a morning test (which again validated my current stop), and rebounding nicely to finish green on the day. This one is holding up well, but needs to turn higher from this consolidation zone if it’s going to run. I’ll stick with my existing trade parameters for Wednesday.
ZMH triggered a short sale today as it broke the lower trend line of a bearish wedge pattern at $47.30, and despite some afternoon market strength this one stayed nicely negative. This is a fair start for this short sale, so I’m going to leave my trade parameters as-is for now while waiting to see some follow through in the coming days.
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.
ZMH added
LLL attempted to bounce in recent days, but it was doing so in a weak fashion with limited upside and poor volume to accompany it. That’s just what I wanted to see, as it helped the stock consolidate for another move down without stopping me out on my remaining shares (1/2 position). Today it turned lower with steady selling and increasing volume, and I’m now watching for follow through once again toward Target 2. So far, so good. I’ll look to make another stop adjustment soon if it continues lower from here.
INTU pulled back today within its consolidation area with the market weakness. Two things are encouraging here, which are the fact that today’s dip came on incredibly light downside volume, and the fact that short-term support is still holding. I’m doing my best to stay patient with this one, as if the market stabilizes, I do expect this stock to regain momentum quickly. If not, my stop is defined and I’ll abide by it.
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
LLL bounced today with the market, and this one probably needs a bit of relief. I’ve already taken 1/2 profits at Target 1, and have adjusted my stop for remaining shares to breakeven, so I’ll sit tight for now and let it consolidate to see if a secondary decline will arrive. This one is a bit of a slower mover, so I’m doing my best to stay patient.
INTU turned back up today after some hesitation yesterday, finishing the week back above the descending trend line. That’s encouraging – for now – but I’d really like to see some follow through in the days ahead. This one exhibited some nice momentum just recently, so if after the mild pullback it can regain some strength, I like the setup for a favorable move.
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.
INTU triggered
LLL bounced today but held beneath my tightened stop loss, and ultimately finished negative on the day once again. That’s encouraging price action for a stock that’s already proven to be weak, and even on an attempt at a bounce it’s struggling to gather any upside momentum. I’m sticking with my existing trade parameters for now while waiting to see if this one can make a move toward Target 2.
INTU triggered a buy this morning as it cleared the steep trend line shown in last night’s Broadcast, but with the market reversing lower, it wasn’t able to hold the breakout. It slipped back beneath the trend line by the closing bell, and now sits slightly underwater from my entry. I’m going to keep my stop as-is for now, and may look to make an adjustment after the weekend if Friday’s price action is encouraging. So not the best start, but I’m going to give it some room to fluctuate for the time being while waiting to see if it can make another attempt at a move higher.
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.
LLL Target 1 hit & stop tightened, PLCM stopped, INTU added
LLL fell further this morning to hit Target 1 at $68.80, allowing me to close out 1/2 my position for a fair gain of 3.7%. The stock has come under persistent pressure for the past several sessions, so to see today’s rebound kick in is not surprising. It was rewarding to see Target 1 hit right on the nose today, as that did mark the low for the session, and I also liked the fact that this one didn’t rally much beyond the flat line. Volume was light as well. That points to a continued presence of some sellers, and a lack of buyers, plus this stock is still technically broken. I’m going to stick with remaining shares with an adjusted stop loss of breakeven. If it can move further in my direction, I’ll continue to adjust my stop.
PLCM was a setup I really liked the looks of a couple nights ago, as it had broken support and bounced back up to test that zone without reclaiming it. There was also a well-defined wedge pattern, and I had intended to initiate a short sale upon a break of the lower wedge trend line. The difficulty in setting up a swing trade in a gap-prone market like this is that sometimes an intended entry and an actual entry can greatly differ. That can be offset by reducing position size, which I did by 1/2, but it still results in inferior entry prices and a change in the risk/reward profile of the trade. So when PLCM triggered an entry on Tuesday by way of gapping through my intended trigger price, that was a known risk. I aggressively tightened my stop last night as another way to offset the initial risk (in addition to the reduced position size), and with today’s market reversal back up I was stopped out of this position for a manageable 2.3% loss. The reduced position size and limited loss definitely minimized the pain, but the fact remains that a true trigger through an intended entry will still offer the best scenario for swing trading. I’ll stand aside from this one for now, as it doesn’t seem ready to roll over for a secondary move just yet.
