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.

APOL added, SLB stop tightened

Open Position Notes:

SLB eased to new recovery highs right after the open this morning, but didn’t inspire more buying.  Instead, it reversed lower for the remainder of the morning with a pullback to again test the $78 breakout zone before stabilizing for the afternoon.  This trade is taking its time after being given several days to build on last week’s breakout, but for now the one positive is that previous resistance is serving short-term as support.  Regardless, I’ve tightened my stop a bit tonight in order to reduce risk in the trade while waiting for some follow through.  I’m using the rising trend line of the past 3 weeks for that stop.

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.

PXP Targets 1 & 2 hit (profits booked)

Open Position Notes:

SLB pulled back this morning but held above yesterday’s low, then stabilized.  From there it worked its way back up to post a minor loss of just $0.14.  That’s good price action and I like how the $78 level was defended today on the test, validating Friday’s breakout in doing so.  I’m sticking with my existing trade parameters for now while waiting for follow through, and I’m still encouraged by how this one is acting.

Closed Positions:

PXP stumbled early in today’s session, then found its footing – in a big way.  A mid-morning reversal took the stock back into positive territory, and that was followed by a huge intraday uptrend.  It hit Target 1 early in the afternoon where I closed half my position for a quick 4.5% profit, then it continued higher into the afternoon to hit Target 2 where I closed the remainder of the trade for a 7.6% profit.  The net on this trade was a 6.1% gain in just 3 days with no pain to sit through, which was quite nice.  The stock now is facing the high from last July and may be due for a pause after this measured move out of the triangle pattern.  Great trade, I’m out with a solid profit and will now wait for a new setup before considering 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.

No changes

Open Position Notes:

PXP gapped down slightly today but battled back steadily intraday, working its way up to fill the gap before pushing positive to reach a new multi-month high by day’s end.  The stock closed above the January high with today’s lift, despite reduced volume, which I am very encouraged by.  I’m going to leave my stop as-is for now while waiting for some follow through toward Target 1.

SLB also recovered from a shaky start to fill its gap and continue higher throughout the session with a steady intraday uptrend.  Today’s rally, in spite of the lighter volume, constitutes follow through on the heels of last week’s breakout, which is excellent to see.  Now I’d like to see more continuation on stronger volume to really validate this move, but so far so good.  I’ll wait for more progress before adjusting my stop.

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.

PXP & SLB triggered

Open Position Notes:

PXP triggered a buy Friday as it gapped slightly through my intended entry price (by 5 cents), pulled back to fill the opening gap, then turned higher to finish not far from its highs.  Price closed above the trend line, and made a multi-week high, which was encouraging.  Volume sagged a bit, which I’d like to see change in the coming days, but overall I continue to like this setup and will stick with it for now. with my existing trade parameters while I wait for follow through.

SLB triggered a buy Friday as it also gapped through the breakout zone, but it held its ground and added a little by day’s end, finishing at its best level since August.  Here again, volume was a bit lacking, but overall I like this play and therefore am not looking to make any adjustments yet.  I’d like to see it build on Friday’s breakout, but there’s room for it to run so I’ll sit tight for now.

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.

PXP & SLB added

Open Position Notes:

No open positions – 100% cash waiting for new entries to trigger.

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.

FCX Target 2 hit

Open Position Notes:

No open positions – back to 100% cash waiting for new setups.

Closed Positions:

FCX triggered a buy yesterday and quickly ran through Target 1 for a quick 4.5% gain.  I booked profits there and tightened my stop last night for remaining shares, only to see the stock ramp again this morning right through Target 2.  I closed the remainder of my position there for a fast $4.15, which was a 9.3% profit in just 2 days.  The stock was able to trade briefly higher, then pulled back for the rest of the day.  It’s not all the time that trades are timed this well and work this quickly, but it’s sure nice when they do.  I’m out with a fast net gain on the overall trade of 6.9%.

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.

FCX triggered & Target 1 hit & stop raised

Open Position Notes:

FCX triggered a buy today as it pushed through the $44.25 level to confirm its bull pennant pattern, and the stock shot higher from there into the afternoon.  The initial push was strong enough to propel the stock past Target 1 where I closed half my position for a quick 4.5% profit.  It finished a bit off its best levels of the day, but overall this was an exceptional first-day move so I’ve raised my stop to breakeven for remaining shares.  I’ll be watching for follow through in the coming days on the heels of today’s strength.

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.

RCL stopped, EMR removed (pattern negated without triggering)

Open Position Notes:

No open positions – 100% cash waiting on new entries to trigger.

Closed Positions:

RCL triggered a buy yesterday as it gapped through my intended entry and then finished shy of its best levels of the day.  The stock showed some hesitation, so in addition to the chased entry, I adjusted my stop last night in order to reduce risk in the trade.  I wish I hadn’t, as the stock pulled back today, stopped me out for a small 1.4% loss, then ultimately traded higher without ever hitting my initial stop.  Those kinds of moves are frustrating, but they happen sometimes in an effort to manage risk better.  So for now I’m out with a small loss, and will keep it on the radar in case it bases out and sets up another technical 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.

EBIX & SFLY closed, RCL triggered, FCX added

Open Position Notes:

RCL triggered a buy this morning as it gapped through my intended trigger price of $28.15 to clear the trend line and start a new leg up.  The initial strength didn’t hold, and the gap was subsequently filled.  From there, I was encouraged to see buyers step in and defend the stock, producing a lift into the afternoon.  The stagnant market may have contributed to a lack of follow through in this one, so I’ll be watching it closely in the coming days to see if it’s able to build on recent strength.  I’ve tightened my stop tonight in order to reduce risk in the trade after having to chase the entry, and will otherwise watch for some follow through.

Closed Positions:

EBIX hit Target 1 last week and was closing in on Target 2, so I tightened my stop over the weekend.  Today the stock saw some profit-taking kick in, bringing the stock down to hit my adjusted stop for a 4.6% profit on the 2nd half of my trade.  On the net trade, I closed out a 4.8% gain, and will now watch for a new setup to emerge in the chart before considering another entry.

SFLY pulled back today to stop me out for a 0.8% loss, which is minimal and therefore easy to accept – especially for a trade which never panned out as expected.  I had anticipated this one to trigger and then accelerate higher in a short-squeeze type of move, but it just couldn’t create the emotional move necessary for that and instead just hovered near the trigger price for the past few days.  As a result, I tightened my stop aggressively and consistently, reducing my risk in the trade while waiting for some attempt at follow through, but the stock apparently isn’t ready to go and today I was taken out for a very small hit.  I’ll leave it on the radar in case it sets up again, but for now it seems to be stuck in a range down here 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.

EBIX & SFLY stops tightened, RCL & EMR added

Open Position Notes:

EBIX edged higher again on Friday to tag new recovery highs, finishing just a short distance from its best levels of the session despite a slight downtick in volume.  This one also pulled back to test the $24 area (was Target 1) and held, which was encouraging.  I’ve tightened my stop a bit more this weekend in order to lock in additional gains should this one happen to reverse, otherwise I’m looking for a push to Target 2 in the next couple of days based on this very positive price action.

SFLY struggled Friday with a mild pullback after testing Thursday’s high, but the stock finished off its worst levels and marked its 4th straight higher low on the daily chart since last week.  I’ve tightened my stop again on this one to reduce risk while waiting for it to make another attempt at a push higher.  This is the kind of setup that can really ramp, but for the moment it’s still lacking that spark to get going.

Closed Positions:

No closed positions.