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:

UHS posted a solid advance today along with the market, which was encouraging to see.  The daily chart is starting to reveal a larger high-level base, so it could be that a little more upside push and this one could really make a nice move.  For now, I’ve already adjusted my stop loss and am waiting for more follow through.  The technicals appear conducive to more strength, but the buyers will have to produce it (along with some stronger volume).

MCO rebounded today after yesterday’s breakdown, but it didn’t recover it all.  I’ve already taken 1/2 my profits in this trade, and have a stop loss at breakeven for remaining shares, so I’m trying to be patient with this one.  The stock remains in poor technical shape, so I’m willing to stick with my existing trade parameters heading into tomorrow.

MTB bounced right back up today to reclaim the $78.50 level.  Although today’s volume was weak, today’s bounce makes Tuesday’s breakdown look rather suspect.  My stop is already in place for this trade, so it has a little more room to bounce if needed.  Tomorrow could prove to be a pivotal day for this position, so let’s see what happens.

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.


MCO triggered, Target 1 hit, stop tightened.  MTB triggered

Open Position Notes:

UHS climbed early in today’s session, but the strength was short-lived and ultimately the stock rolled over a bit with the market.  It’s still sitting slightly above my tightened stop loss, so I’m going to stick with that level heading into Wednesday’s session.  The dip of the past 2 sessions has come on light volume, so let’s see if this one can shape up tomorrow.  If not, I’ll abide by my stop.

MCO triggered a short sale today as it undercut short-term support, and it slid steadily lower throughout the day.  Target 1 was hit, where I booked 1/2 profits for a quick 4.2%, and now Target 2 is approaching.  I’ve tightened my stop for remaining shares heading into tomorrow, but so far I like how this one’s behaving as a short.

MTB triggered a short sale today as it broke through a key level which has served as both support and resistance in recent months.  The stock spent much of the day in a choppy range, but the weak finish was encouraging.  I’m going to leave my stop loss as-is heading into Wednesday, and will look to make an adjustment once this one is able to make some better progress toward the Targets.  So this was a good start, but I’d like to see some 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.


MCO & MTB added

Open Position Notes:

UHS pulled back Friday along with the market, but it wasn’t too bad considering the stock had been up 4 of the previous 5 sessions.  Volume declined with the pullback, and price was able to hold above its breakout zone on a closing basis.  Those are both encouraging to see, so now the key will be whether it can produce some upside follow through.  I’ve already adjusted my stop, so I’m sticking with that for now and will be watching to see if some strength returns.

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.


UHS stop tightened

Open Position Notes:

UHS participated in today’s market strength, which was encouraging.  Being a health services stock, it’s not the momentum name which many traders turn to when the market rallies, but I initiated the trade due to the relative strength it’s been showing despite the recent widespread weakness.  Volume was a bit lacking today, as it was in many stocks, and this one finished off its best levels of the day.  That shows a little hesitation to run higher, and after climbing 4 of the past 5 sessions, it may simply be due for a rest.  I’m going to tighten my stop again tonight just to protect this position, but will still leave it some room to fluctuate while I’m waiting for more strength to arrive.

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.


UHS triggered, stop tightened

Open Position Notes:

UHS triggered a buy today as it broke out from its bull pennant pattern, moving solidly higher for most of the session.  The market weakness in the afternoon pulled it down from its highs of the day, but it still managed to finish positive on the session and display some nice relative strength.  While I’d have liked to see it just move straight up (of course), the fact that it ended the day just 1c off its trigger price in the face of a weak market is encouraging.  With the market still struggling to bounce here, I’m going to tighten my stop for this position in order to reduce my risk, but I’m leaving it a little wiggle room just in case it’s needed.

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.


UHS added

Open Position Notes:

No open positions.

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.

WLP closed

Open Position Notes:

No open positions.

Closed Positions:

WLP gapped lower Friday morning, along with the market, moving it deeper into profitable territory for me as a swing trade on the short side.  But with the market reversing from key support areas, I recognized the need to book my profits, as per Thursday night’s mention here.  The stock also stopped shy of breaking the May 6th low.  Rather than staying short in an oversold and bouncing market, I chose to ring the register for a 4.5% winner, and am now in cash heading into the new week.  If this stock sets up another pattern, I’ll trade it again, but for now it appears to have found some support and I’m not interested in being short.

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:

WLP showed some initial hesitation yesterday to break down, but today it moved decisively lower with a big expansion in volume.  This confirms the bearish rising wedge pattern, and I’m now on the lookout for follow through.  I’m going to leave my stop loss as-is, because the market is getting rather oversold here and I want to allow some room for a bounce if it should happen early on Friday.  If on the other hand we see early weakness, I may move to exit this position, so watch your email inbox for an alert (I will also post any exit on Twitter).  Just wanting to stay flexible in this market which is getting to the point where a relief bounce could come at any time.  Nice action here today though.

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.


WLP triggered, EGO removed (no trigger, pattern negated)

Open Position Notes:

WLP triggered a short sale today right at the open as it moved through the lower end of the rising wedge pattern on the daily chart at $52.80.  The initial downside was limited, however, and the stock bounced into positive territory by the end of the session.  While I don’t like the headfake-type action on my entry day, I am willing to stick with this one for now, so my stop hasn’t been altered heading into tomorrow.

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.


LLL, EL, UNT closed, EGO & WLP added

Open Position Notes:

No open positions.

Closed Positions:

LLL moved higher off the open today, but along with the market reversal, it slid steadily lower into the afternoon.  With the closing bell approaching though, the market had started to stabilize, so I moved to exit this position and book the 1.5% winner in an effort to reduce short exposure into the market weakness of the past few days.

EL was also off to a strong start this morning, but made a decisive move lower with a steady trend into the afternoon.  As yesterday’s lows were approached, the stock began to stabilize (along with the market), so I closed the position for a 4.1% winner.  It may still continue lower, but with the market having sold off, the odds for a bounce are increasing and I’m trying to stick and move in this tape.

UNT moved higher this morning, but ultimately gave it all back and moved into negative territory with the market reversal.  This stock had approached yesterday’s lows, and with the broad market starting to stabilize, I felt it was best to book the 5.2% winner and eliminate my short-sided exposure into weakness.