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.

RDC added

Open Position Notes:

CMI turned lower this morning to nearly test my stop loss as it held just above that zone before turning higher.  This one went back positive in the afternoon, which is very encouraging, as it showed some solid relative strength in the face of a negative market.  I’d still like to see this one get back to making new highs on the daily chart, so I’ll be watching for follow through in the coming days.  It’s still in the base for now, which isn’t a big concern yet, although I’d like to see it get moving out of this congestion zone sooner than later.

BAX headed solidly higher today as it tacked on more than 2% in the face of a declining market.  This not only showed good relative strength, but it also puts price farther away from the resistance zone it just cleared.  I’ll be watching for a push toward Target 1 in the next couple of days, but for now will leave my stop as-is while waiting for more follow through.

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.

SOHU closed, CMI & BAX triggered, ARUN added

Open Position Notes:

CMI triggered a buy this morning as it pushed past $82.40, but the stock was unable to reclaim that level for the rest of the day.  It backed off slightly, finishing essentially flat on the session, still inside its recent consolidation zone.  I’m going to stick with this one given the light volume in the stock today, and will reassess if and when it can push back through resistance.  Today’s early move had the look of a head fake, but I’m going to give it more time to find out.

BAX triggered a buy today as it moved through $45.35, although the stock never gained momentum and instead finished right at that level.  This is one I’m expecting to be a slower mover, so I’ll be patient with it for now while I wait to see if it can show some upside follow through.  I like that it’s trying to push through resistance here, but the buyers will need to get behind it to propel it higher.  Today’s light volume shows there’s plenty of room for higher participation, so let’s see if that arrives in the coming days.

Closed Positions:

SOHU powered higher this morning, ripping through Target 1 at $50.40 where I booked 1/2 my gains for a quick 4.7%.  Soon after, it pushed through Target 2, where I closed the remainder of my position for a very nice 7.2% gain.  The stock then backed off the morning highs, suggesting it has become a bit extended after this quick ramp higher.  I’m out with a solid but fast 6% winner, and will wait for a new pattern to emerge before looking to re-enter.

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.

DRI stopped, CMI & BAX added

Open Position Notes:

SOHU showed very nice relative strength on Friday as it held positive in the face of a declining market.  This one continues to act well since moving up and out of its tight consolidation pattern on strong volume, and I’m watching for continued follow through toward my Targets.  A little extension from here would do the trick, so let’s see what happens.

Closed Positions:

DRI gapped down on Friday and continued lower, hitting my already-tightened stop to take me out for a modest 2.1% loss.  I was concerned after the hesitation this one showed when it triggered an entry, so I adjusted my stop on it very quickly.  That proved to be a good move and a way to reduce risk in a trade which wasn’t behaving as expected.  I’ll keep this one on the radar in case it shapes up, but for now I’m out with a small loss.

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.

MOS Target 2 hit (position closed), SOHU triggered, NEM removed (no trigger, pattern negated)

Open Position Notes:

DRI gapped down this morning and continued lower before turning back up to fill most of the gap by the closing bell.  It finished just slightly negative on the day, and continues to hold up.  Nonetheless, it still hasn’t shown the follow through I’m looking for since it triggered.  I’ve already adjusted my stop loss to reduce risk in the trade, and that level was validated today as price came nearly down to it, so I’m going to stick with that level for now while waiting for strength to return.  All in all, this pullback has been minor and volume has been quiet on the dip, I’m just doing my best to be patient while I wait for confirmation of a turn higher.

SOHU triggered a buy this morning, and initially it showed some hesitation.  However, the afternoon brought with it plenty of strength for this stock, and it finished nicely higher on strong volume while the overall market sagged.  Today’s relative strength is encouraging, so I’m on the lookout for follow through in the days ahead.  My stop is already rather tight, so I’ll leave it as-is until I see further strength in this stock.  Decent start today though with the overall market not helping at all.

Closed Positions:

MOS powered higher this morning with excellent early strength, taking it right up through Target 2.  In fact, the stock only moved $0.10 past that level before it pulled back in the afternoon, which really makes this a sweet trade.  I closed the remainder of my position into the $52.30 level, booking a very nice 10.8% gain in just 6 sessions.  The stock is becoming extended here, so I’m going to stand aside and wait for a new pattern to emerge before looking to re-enter.

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.

MOS Target 1 hit & stop tightened, DRI triggered & stop raised, SOHU added

Open Position Notes:

MOS trended steadily higher throughout today’s session, taking out Target 1 where I closed 1/2 my position for a 5.9% gain.  I’ve tightened my stop for remaining shares as well, but am thus far pleased with how this one is acting.  It’s gotten into a recent habit of posting solid advances followed by quiet, inside days, and there’s nothing wrong with that.  It prevents the stock from becoming too extended, while continuing higher.  I’m looking for follow through with a push toward Target 2 in the days to come.  So far, so good.

DRI triggered a buy today as it cleared a small descending trend line, but despite some positive market action, this one didn’t continue to climb.  This one may simply need a little more time, so I’ll stay with it, but I would have expected better action than I saw today so I’ve tightened my stop in order to reduce my risk in the trade.  That may prove overly cautious, but this one simply hasn’t proven itself yet on a day when it could have just as easily posted a solid advance.

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.

MOS stop tightened, DRI & NEM added

Open Position Notes:

MOS gapped lower today and gave back some of Monday’s advance, but stayed above its breakout zone.  Today’s downside volume was also very light, which I find encouraging on the heels of the strong-volume advance seen on Monday.  This one is struggling to produce day-after-day follow through right now, but it’s working and I’m doing my best to stay with it.  I have tightened my stop tonight a little just in case, but otherwise will be watching Monday’s high as a short-term pivot which needs to be cleared in order for a push to the targets to occur.

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:

MOS gapped lower this morning in the face of a very strong market, thanks to a preliminary injunction from a U.S. District Court.  Goldman Sachs noted it as a “clear negative,” leaving the stock weak on the open.  It was able to hold above my stop loss, however, and soon after caught a bid and filled the entire gap.  The stock strengthened as the day progressed, moving well into positive territory by the end of the day.  This wasn’t quite what I had in mind when I referred to Friday’s inside day often becoming a continuation bar, but nonetheless, that’s what happened.  Today’s bullish engulfing bar came on big volume, and that’s technically very positive to see.  Target 1 is right around the corner, and Target 2 could be reached as soon as this week, so I’ll be looking for follow through in the days ahead as the stock pushes toward those levels.

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:

MOS held up well last week, particularly on Thursday and Friday in the face of market weakness.  The breakout has held for a couple of days, and this one still looks good to me.  Friday’s bar was an inside day, and often times that ends up being a continuation bar.  Given the fact this one just broke out, I’m watching for follow through this week.  My stop will remain unchanged heading into Monday, as I’d like to see some further progress before looking to make any adjustments.  So far, pretty good action.  Follow through needs to arrive next.

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.

GDX closed, MOS triggered

Open Position Notes:

MOS triggered a buy for me this morning as it cleared $47.20, and this one shot higher almost immediately by $1.34.  That marked the high for the day, however, as this one gave back some ground soon afterward.  The stock did stabilize and post a solid gain of 2.4% on the session, and it held the breakout level on strong volume, and I’m encouraged by that.  I’d like to see some follow through in the next couple of sessions now that this one has broken out, so let’s see what happens.  I’ll leave my stop as-is for now so this one has some room to fluctuate if needed.

Closed Positions:

GDX hit Target 1 yesterday right on the number, and then bounced back.  I had tightened my stop for remaining shares last night so as not to give back much open profit on the reluctance of this one to move decisively lower, and today that stop was hit on the open at $47.74.  That closed me out for a modest 2.1% gain on the 2nd half of my position, making the net gain on the trade 3.1%.  That’s decent for a few days in an ETF, so I’ll take it and move on.  The gold miners seem to be trying to stabilize here after a quick move lower, so I’ll wait for a new setup to emerge before looking 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.

NEM Target 2 hit, GDX stop tightened, MOS added

Open Position Notes:

GDX moved slightly lower this morning, just enough to hit Target 1 where I booked 1/2 profits for a quick 4% gain.  This ETF did rebound from there, finishing positive on the day.  This trade has been acting well, and I’m going to stick with it for now, but I have tightened my stop again for remaining shares tonight.  That way, if it rebounds, I’ll ring the register for a solid net winner, and if it sells off again, I’ll watch for a move to Target 2.

Closed Positions:

NEM hit Target 1 on Tuesday, so overnight I only had a 1/2 position.  I realized this morning that earnings were reported before the bell, which was a complete accident.  I look at a handful of earnings calendars, and apparently the one I looked at for this stock was mistaken on the reporting date.  So, I never intended to hold this position into that major news.  Nonetheless, it worked out favorably (read: “lucky”), and Target 2 was hit today where I closed out the remainder of my position for a nice 7.3% winner.  I’m now out of the trade, and will wait for a new pattern to set up before looking for another entry.