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.

CBT & MDVN & VNO stops tightened

Open Position Notes:

CBT showed some nice relative strength the past couple of days, but today it put in some rest, giving back only a few cents.  This one has been rather sluggish and with the exception of Tuesday, volume has not confirmed this move.  As a result, I’m going to stick with it and watch for follow through, but with a pretty tight stop as of tonight in order to lock in some gains should this one happen to fade.  The slow move higher on generally light volume is not a look I trust very much.

MDVN opened slightly higher today and quickly added to the early gains, running right up within 4 cents of Target 1 before backing off slightly and spending the remainder of the session in a narrow range not far from the highs.  Today’s move is good follow through with the stock now reaching new recovery highs, and it bodes well for continuation in the days ahead.  With Target 1 very close by and with volume still not confirming this advance, I’m tightening my stop aggressively tonight.

VNO spent the bulk of the day in positive territory, although it never really showed much momentum.  Volume was rather quiet as well, so I’m still waiting for follow through here.  I’ve adjusted my stop loss tonight to bring it up a little tighter, requiring a multi-day low to occur in order to take me out.  However, if the stock will turn higher from here it will be irrelevant.  A solid push through $71 is likely what it’ll take.

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:

CBT shrugged off today’s market weakness and continued higher by another 2.5% to build on its breakout.  While I like the follow through this one is finally starting to show, I particularly liked the increased volume which accompanied today’s climb.  My stop will remain as-is heading into tomorrow in order to give this one some room to fluctuate.  If it exhibits additional strength, I’ll look to make an adjustment.

MDVN tested the highs again today but couldn’t bust through them.  Instead, it gave up a little ground on light volume, essentially respecting yesterday’s trading range.  I still like this setup and the potential it holds, and I’ve already adjusted my stop, so I’ll stick with my existing parameters for this trade heading into Wednesday.

VNO posted an inside day on light volume today, pulling back to test the breakout zone.  Although I’d have rather seen it sprint higher, this is probably healthy action and thus far is not cause for alarm.  I’m sticking with my original stop loss for now, but will be on watch for strength to resume soon.

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.

VNO triggered, CBT & MDVN stops tightened

Open Position Notes:

CBT gapped higher this morning, but gave up its early gains with a test of the downside.  It didn’t spend much time there though, and by late morning it was trending higher.  Late in the day, it stabilized, holding onto its gains well in order to post a breakout on a closing basis.  This is encouraging, as the stock has been reluctant to run for the past few days.  Nonetheless, today’s move did come on light volume, which makes it a bit tougher to trust.  As a result, I’ve raised my stop tonight while still trying to leave it a little room to fluctuate while waiting to see if follow through arrives.

MDVN saw some early selling pressure today, but only was able to break Friday’s lows by a small amount before it stabilized and turned higher.  It trended for the remainder of the session, posting a solid gain by day’s end.  This is encouraging, so with the expectation of more strength based on the brief dip, I’ve tightened my stop loss tonight in order to further reduce risk in the trade.

VNO triggered a buy today as it cleared the trend line at the $70 level, and initially it hesitated.  Early strength was quickly surrendered, and the stock moved negative on the day.  However it did stabilize, and the stock behaved very well from that point forward with some nice strength to close out the day.  I’m leaving my stop loss as-is for now in order to allow this one some room, but if it is able to continue higher then I’ll make an adjustment.

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.

ILMN stopped, VNO added

Open Position Notes:

CBT flirted for the fourth straight session with a breakout, and once again couldn’t make it happen as it slipped right back under key resistance by the end of the session.  This is still a setup which holds some promise, but the lack of follow through remains a concern.  I tightened my stop last week, and will stick with that adjusted stop heading into Monday.  It’s not far away either.

MDVN turned nicely higher on Thursday after triggering a buy, and was showing some follow through early on Friday as it made new highs, but some profit-taking kicked in and erased the early gains, putting it in negative territory by the end of the session.  Overall though, this one is still looking good and I’ll stick with my adjusted stop loss for now which stands at breakeven.

Closed Positions:

ILMN worked well for me but did trigger my adjusted stop for remaining shares on Friday as it turned higher early in the day.  This one could now create a higher low on the daily chart, so I’m out of the position with a net 5% gain, and will stand aside waiting 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.

MDVN triggered, CBT & MDVN stops tightened

Open Position Notes:

ILMN bounced a bit today, stopping just a penny short of my adjusted stop loss for my remaining 1/2 position (1/2 was closed at Target 1).  This validates my stop for the time being, and I’ll wait to see if this one can turn back down.  If not, I’ll book the winner, but hopefully it can head toward Target 2 before it’s done.

CBT cleared yesterday’s high by a couple of cents today, but couldn’t stand it and gave back its early minor gains.  It finished the day just a short distance from my trigger, and overall this is not the kind of breakout behavior I’d like to be seeing.  I tightened my stop for this trade tonight because of that, but perhaps it just needs one more shot to gather some momentum.  If not, I’ll honor my stop.

MDVN triggered a buy today as it turned back up from its recent pullback, and the bounce found some legs.  The stock ended the day near its highs and well clear of my trigger, but volume was overall light, so I tightened my stop to breakeven due to the light volume.  This one has exhibited strong volume on every recent advance until today, so that’s a slight change which I don’t love.  Barring any major gaps in the stock, this means a “free” trade with my stop now at breakeven, so let’s see if it can head toward Target 1 before the weekend.

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.

WFMI stopped, ILMN Target 1 hit & stop tightened, WX removed, MDVN added

Open Position Notes:

ILMN continued lower today, moving through Target 1 where I closed 1/2 my position for a solid 6.2% gain.  I’ve tightened my stop again tonight for remaining shares, but overall am pleased with how this one is moving and it still has potential for further downside.  So far, so good.

CBT turned slightly higher today, finishing right near the breakout zone on the daily chart.  This is a slower mover but I still like the potential here, so I’m going to stick with my existing parameters on this trade for now while waiting for follow through.

Closed Positions:

WFMI has been sluggish to get going in my direction lately, reluctantly creeping down since it broke support.  The lack of downside momentum has caused me to keep my stop somewhat tight, and today my adjusted stop was hit as this stock bounced.  I’m now out of the trade for a 3.3% gain, and will stand aside while waiting for a new pattern to emerge in 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.

CBT triggered, WFMI & ILMN stops tightened

Open Position Notes:

WFMI started the day on a weak note, heading quickly lower right from the open after a downside gap.  The stock did recover a bit from its lows of the session, but overall today appears to be the start of the continuation I’ve been waiting for, so I’ve tightened my stop once again tonight.  My Target isn’t far away, so with a little more weakness we could see that hit very soon.

ILMN gapped down and never recovered, finishing the day only a short distance from its lows.  This one continues to act well, and I’ve tightened my stop for this trade tonight in order to lock in some profits just in case it happens to turn higher.  Otherwise, I’ve left it some room to fluctuate, so let’s see if today’s weakness can find follow through tomorrow.

CBT triggered a buy today as it exhibited some relative strength with a breakout through resistance at $25.05, but it wasn’t able to hold the breakout on a closing basis, falling back just shy of resistance by the end of the session.  I do still like this setup and will remain patient for now while waiting for follow through 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.

FDX stopped, WX & CBT added

Open Position Notes:

WFMI gave up a little ground today as it finished about 1% lower, but it remains above last week’s lows.  I have already tightened my stop on this one once, and am sticking with my current parameters while waiting to see if it can go ahead and completely fill the gap from August.  It has struggled to bounce, so let’s see if it can exhibit just a little more weakness.

ILMN tested the downside today but ultimately finished just 2 cents from Friday’s closing level.  The turn lower last week followed by today’s inside day implies more continuation could arrive soon, as well as today’s minor gain on light volume.  I continue to like this play, and have tightened my stop slightly again tonight.

Closed Positions:

FDX got to within 6 cents of Target 2 today before backing off to trigger my stop loss, taking me out of the trade for a solid 4.7% gain on the 2nd half.  This one really required some patience after a sluggish start, but it was worth it.  Getting stopped out today is a bit frustrating given that the stock is trading higher after hours after raising guidance, but it was a good trade and I’ll watch for a new technical entry before considering a new position.

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.

ILMN triggered, FDX & WFMI & ILMN stops tightened

Open Position Notes:

FDX flirted again with the $88 area early on Friday, but by late morning it took a swan dive back down toward $86.  Fortunately, my stop was still safe, and by the closing bell the stock had rallied back to take out its morning high (even though the market did not).  It’s now very close to Target 2, so I’ve tightened my stop aggressively tonight for remaining shares.  This way if it goes a little further, Target 2 will get hit (it traded nearly to that level after hours on Friday in fact).  If not, I’m not going to give it much room against me from here.

WFMI started out strong on Friday along with the market, but it was pretty quick to start giving up ground once the market began to roll over.  It did stabilize later in the day and overall posted a gain, but it’s not rallying big here with the indexes sitting near highs.  I do still like the prospects for this one, but it has been sluggish to move lower, so I’m tightening my stop tonight in order to lock in a small gain should it happen to rally from here.  Ideally it stalls out and rolls back over, but thus far it has had chances to do that and simply has not.

ILMN triggered a short sale Friday as it undercut the $28.85 level, moving decisively lower once that level was taken out.  The selling pressure was intense, which is good, and it implies this stock just confirmed a lower high after the recent bounce.  Volume picked up, which is nice to see on a short sale, but not required.  I’m liking the early action for this one so far, and will be looking for follow through these next few days now that this one is again moving south.  I’ve also tightened my stop a bit just in case.

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:

FDX made a run at the $88 area this morning, getting to within 1% of my 2nd Target before some profit-taking kicked in.  My raised stop from last night was able to hold, so I’m staying with it tonight in order to book the gain in case the pullback happens to continue.  This has been a sluggish mover and has required patience, but it has worked so let’s see how it ends.

WFMI rolled over nicely this afternoon to post a loss, and it could be that this was the jumpstart it needed to make another move lower toward the August gap.  I still like the setup here, and will stick with my previously adjusted stop heading into tomorrow.

Closed Positions:

No closed positions.