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.
ACXM added
No open 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.
FOSL stopped, VSEA triggered & stopped
No open positions.
FOSL gapped lower today with the early market weakness, and triggered my stop loss soon after. The stock headed slightly further down before reversing back up and finishing right back into the recent consolidation zone. This move took me out for a 2.9% loss, which is frustrating due to the nature of today’s head-fake move. This stock is still in its uptrend, so I’ll keep it on watch for a possible re-entry in the days ahead. For now, I’m out and standing aside.
VSEA triggered a short sale this morning as the market was heading lower, indicating that this stock was ready to roll over as well from the recent bounce. However, the downside didn’t last, and the stock reversed higher along with the market. Ultimately, my stop loss was triggered in this one as well, handing me a 3.2% loss in the process. Here again, the head-fake nature of this move was no fun to endure, but stops must be kept in place in order to protect capital when stocks reverse. Given that this one continued higher, it negates the pattern altogether so I’ll avoid this one 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.
VSEA added
FOSL began Friday with some nice relative strength as it made a new high for the week while the indexes began to sell off. However, the broad weakness took its toll on this one, and it ended up sliding lower for the remainder of the session as it built a bearish engulfing bar on the daily chart with expanding volume. This stock is still above recent support, so I’m willing to stay with it for now using my existing stop loss level, but this reversion back into the base suggests it may need more time to get moving.
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.
PAY stopped, QCOM removed (pattern negated)
FOSL never strayed far from Wednesday’s closing price today as it sat within a narrow trading range with quiet volume. This one is still lingering just a short distance from the breakout zone, so I’m staying with it for now while waiting to see if it will make another attempt at an advance.
PAY tried to break out yesterday but didn’t have the necessary volume to assist in the advance, finishing near its lows of the day. That didn’t look particularly bearish, but it proved to be, as today the stock broke down hard on a big spike in volume, triggering my stop loss to take me out of the trade for a 3.2% loss. Today’s move implies the stock now needs to base further and rebuild a new pattern, so I’ll avoid it until that occurs.
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.
FOSL, PAY triggered, RAX stopped
FOSL triggered a buy as it crossed the descending trend line, indicating it was ready to begin moving higher. However, volume was again well below average, and as I noted last night in the video, I was expecting to see volume ratchet higher if a breakout could occur. That didn’t happen, and the stock was subsequently unable to continue showing strength. For now it’s right back in the short-term consolidation area, so I’ll be watching it closely heading into tomorrow to see if the stock can make another attempt on the upside.
PAY triggered a buy today by clearing the trend line, and it made a nice initial surge higher. However, the next dip was somewhat deep, and no upside follow through was seen. The stock finished in the green on the day, but near its lows of the session and on light volume. Here again, volume needs to accompany the move in price, so I’ll be interested to see if the stock can make another attempt at an advance tomorrow or if instead it needs additional rest in this area.
RAX dipped into negative territory again early today, but soon it bounced back and stabilized. From there, the stock ramped higher with a huge surge from mid-morning to early afternoon, easily triggering my stop loss to take me out of this trade. This stock has shown persistent weakness in recent days, so to see it suddenly explode higher the way it did today is surprising, but I’m not here to argue with the tape. I’m out of this one for a 3.4% loss, and will wait for a new pattern 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.
FOSL, PAY added
RAX spent the bulk of today’s session underwater, once again resisting the broad market strength to exhibit some relative weakness. I am expecting this one to crack a little further if the overall market can put in some rest or a pullback, so I’m sticking with this trade as is for now. I’m encouraged by the weakness it’s showing in the face of a very strong market, but want to see a more favorable move before I’ll look to make an adjustment to my stop.
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.
QCOM added
RAX turned higher off the open today, indicating it was perhaps ready to rally further, but soon the momentum faltered and the stock dipped into negative territory for the remainder of the afternoon. This stock continues to flirt with its breakdown area, but once again was able to close negative today, and I find that encouraging. I’m staying patient with this one while waiting for additional weakness to arrive, so I’m leaving my initial stop loss as-is heading into Tuesday.
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
RAX gapped higher on Friday, but quickly turned red, filling the morning gap and heading lower in a hurry. From there it was able to bounce slightly off its lows, but no additional attempt to bounce took place for the remainder of the session, and it chalked up a 1.8% decline on the day. This brings it back under the breakdown zone, which is encouraging. The key now will be follow through, so let’s see if this one can show more relative weakness in the days ahead. Not a bad start, but I need to see more weakness to trust that this one is really going to roll over.
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
RAX headed lower today right out of the gate with a gap down and some nice continuation on the downside, triggering a short entry for me as it undercut the $18.90 level. Mid-day, the stock bounced back up to test the breakdown level for a while, further validating that area on the chart as important. The late-day market strength took this one with it though, lifting it further from its worst level of the day. The stock is struggling to break down hard, which is no big surprise given the widespread market strength, but I do still like its relative weakness to the market – and today especially. I expect this one to roll back over if we see any relent in the rally, so I’m sticking with my existing stop loss heading into Friday.
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.
FSLR stopped
No open positions.
FSLR rolled over yesterday with a downgrade and some nice relative weakness to the NAZ, and the trade appeared to be taking shape nicely as it resisted the recent market strength. Today however, the company had some positive news of a new contract with PG&E, sending the stock running higher with a push through last week’s highs. This triggered my stop to take me out of the trade for a 3.5% loss, which is disappointing given the nature of this upside reversal on news. This stock is still in technically poor shape, so I’ll watch for another pattern to emerge in the days and weeks ahead. Today’s strength deserves respect, so I’ll stand aside for now.
