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.

HFC closed, EBIX Target 1 hit & stop raised, SFLY stop raised

Open Position Notes:

EBIX had consolidated for the past few days in a bullish fashion, and today we finally saw it pick up the pace with a solid gain on strong volume.  This took the stock to new highs, pushing past Target 1 where I closed half my position for a 5% profit.  The stock finished slightly off its best levels, but this one still looks good.  I’ve adjusted my stop again tonight for remaining shares while waiting for a push to Target 2 in the days ahead.

SFLY struggled to pick a direction for a little while this morning, but ultimately it ran nicely higher into mid-day before leveling out for the final few hours of the day.  This rally-then-hold type of move is encouraging for continuation, as the 15-minute chart now has a nice bull flag pattern.  The upside reversal is being embraced here, so I’ve tightened my stop again tonight in order to reduce my risk in the trade while waiting for a move to Target 1.  If and when that occurs, I’ll look to set a level for Target 2 (which is currently open).

Closed Positions:

HFC nudged past yesterday’s high this morning but just couldn’t stick, and the stock quickly reversed lower to not only fill the gap but make a multi-day low.  That move hit my adjusted stop to take me out of the trade for a 3.3% profit, which isn’t bad.  This stock had simply become stretched after a 6-day winning streak, so some profit-taking was in order.  I had hoped it wouldn’t go quite deep enough to hit my stop yet, but it did so I’m out of the trade and will wait for a new pattern to develop 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.

SFLY triggered & stop raised, EBIX & HFC stops raised

Open Position Notes:

EBIX saw some quiet accumulation take place today as it tacked on 1.6% to post a new closing high.  Volume was light, however, as the stock remained beneath its intraday highs from last week.  The consolidation of the past few sessions has taken place above last week’s trend line break, which is bullish, so I’m looking for some acceleration in this stock in the next couple of days out of this area.  With Target 1 approaching as well as the overall lack of spark in this move so far, I’ve tightened my stop again in this trade.

HFC continued to new recovery highs today with a 1% gain on its best volume since this trade triggered.  The stock did pull back slightly from its best levels of the day, despite posting its 6th consecutive advance.  I’ve raised my stop again tonight for this one just to lock in a solid gain should it happen to reverse.  Streaks like this can result in impressive moves if they continue, but just in case the stock happens to get hit with some profit-taking I won’t be letting it go too far.

SFLY triggered a buy this morning as it pushed through the short-term trend line, but with a lack of strong volume it fell right back into negative territory.  It was able to stabilize in the afternoon though, which I was encouraged by, despite finishing beneath my trigger price.  Because I’m anticipating this one to accelerate quickly higher (should this low get embraced), I’ve tightened my stop tonight in order to reduce my risk at bit while waiting for another attempt at some upside.

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.

HFC stop tightened, SFLY added

Open Position Notes:

EBIX pushed higher again this morning but balked once again in the area of the December high.  This stock has shown some hesitation in the past couple of sessions after having a real shot at accelerating higher, which is a bit of a concern.  Volume was a bit lacking today, which may have contributed to the lack of follow through, but the weak finish points to a lack of conviction on the part of buyers.  I’ve already tightened my stop and will leave it as-is for tomorrow’s session while waiting for some upside continuation.

HFC continued higher today despite a small reduction in volume, moving to a new recovery high.  I’ve tightened my stop again on this trade to breakeven, giving it a little room to fluctuate though in case it needs it.  I’ll look to make another adjustment if this one can reach Target 1.

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.

MGM closed, EBIX & HFC stops tightened

Open Position Notes:

EBIX pushed to a new high Friday but volume was lacking and from there we saw some mild profit-taking kick in.  The stock held above the consolidation area (breakout zone), which I was encouraged by, and was able to lift slightly from its worst levels into the bell.  This one is requiring some patience after showing some hesitation to leave this pattern behind, but I’m staying with it for now.  I have tightened my stop again this weekend though in order to reduce risk in the trade should it happen to reverse.

HFC showed some nice continuation on Friday as it moved to a new recovery high.  Despite some mid-day profit-taking, the stock lifted again in the afternoon to go out not far from its high of the session.  Volume expanded a bit more, which was also encouraging.  I’m looking for this one to make a push toward Target 1 soon, and have tightened my stop this weekend due to the positive price action thus far in the trade.  I’m still leaving it plenty of wiggle room until it can make some additional progress.

Closed Positions:

MGM pulled back Friday at the open to hit my raised stop, taking me out of the trade for a nice 6.2% profit.  The stock later ran to Target 2, without me.  I’m pleased with the move this one made in just a few days’ time, and now it’s facing some resistance and likely needs a short-term rest.  I’ll leave it on the radar in case it sets up again, but it was a smooth trade and I got paid.

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.

HFC triggered, MGM stop raised

Open Position Notes:

EBIX gapped slightly higher today but never attempted to fill the gap, ultimately moving higher into mid-day before several hours of range-bound rest.  The stock saw one more push to new highs into the final half hour, leaving it just a short distance from its December high.  I particularly liked the fact that today’s move came on strong volume, so it was a decisive move up and out of the base after yesterday’s test of the lower end.  I’m going to leave my stop as-is for tomorrow’s session, looking for some follow through toward Target 1.

MGM pulled back this morning, stopping just a short distance above last night’s adjusted stop, and once again the buyers stepped in and produced a lift to take it positive by the closing bell.  The price action in this stock remains very strong, and I’m looking for a push toward Target 2 shortly.  I’m adjusting my stop tonight once again just to lock in a solid gain should the stock happen to turn around.  And with tomorrow being a Friday ahead of a long weekend, I may send out an intraday alert to close the position if it moves toward Target 2 and stalls out, so watch your email & twitter just in case.

HFC triggered a buy today as it crossed the trend line at $26.60 on its way to a new recovery high.  Volume increased over recent days, which is positive, but it wasn’t quite as strong as I’d prefer it to be.  Nonetheless, the stock finished above the trigger and looks to be starting a new leg higher, so I’m going to stay with my existing trade parameters heading into tomorrow’s session.  I’d like to now see some follow through accompanied by strong volume to give this advance a more convincing appearance.

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.

MGM target 1 hit & stop raised, HFC added

Open Position Notes:

EBIX tested the area of my stop again today without hitting it, then lifted into positive territory by day’s end.  Volume remained light, however, which may have prevented a bigger advance.  Nonetheless, this is still a bullish setup and I’m watching for some upside follow through in the days ahead.

MGM rebounded from a shaky start to the day and then trended steadily higher, hitting Target 1 late in the session where I closed half my position for a solid 6.2% gain.  I’ve tightened my stop for remaining shares while waiting for a push toward Target 2, but I like how this one is acting as it moves farther from the breakout zone and on strong volume.  Excellent price action.

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.

CRM stopped, EBIX stop tightened

Open Position Notes:

EBIX gapped higher this morning, but marked its high of the session on the opening bar and just quietly worked its way lower for the remainder of the day.  Although the price action was not unlike the overall market with some open-to-close selling, the fact that it couldn’t manage a gain is still a concern, especially out of such a bullish pattern.  Therefore, I’ve raised my stop tonight a bit in order to reduce my risk since this one is showing some hesitancy to move up and away from this base.

MGM gapped up this morning and continued higher for a couple of hours, but gave back some ground in the afternoon to partially fill the morning gap finish higher by about 1% on the day.  Volume came in below average, which may have contributed to the lack of follow through.  Nonetheless, this one is trying to get going, so I’m going to stick with it and allow it a bit of time to see if it can head toward the targets.

Closed Positions:

CRM wasn’t able to produce any downside follow through since triggering a short entry, so today when the market lifted with greater enthusiasm, the stock went with it.  That took it to my stop loss where I closed it out for a 4% loss.  The trend hasn’t changed in this one as of yet, but it’s acting like it may be finished going down for now, so I’ll leave it alone.

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.

MGM triggered

Open Position Notes:

CRM spent the whole morning in the red before a quick burst into positive territory.  Ultimately though, that bounce was sold and the stock finished modestly lower on the session.  I’m sticking with this one for now and doing my best to be patient, but the lack of downside follow through is starting to concern me and I may make an adjustment to my stop soon.

EBIX triggered a buy Friday then fell quickly back into its base, but today the stock stabilized with an attempt at an advance.  Although the upside progress was minor and volume was light, the bullish pattern remains intact so I’m staying with this trade for the time being while waiting to see if it can make another push higher.

MGM triggered a buy today my making a 2-month high after pushing through short-term resistance.  Volume picked up as well, which is encouraging to see on a breakout like this.  Follow through will be important though, as today the stock simply didn’t exhibit great strength, perhaps due to the quiet overall market.

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.

EBIX triggered, JOY removed (no trigger), COH & P stopped, MGM added

Open Position Notes:

CRM bounced again Friday but essentially just filled the gap from Wednesday, which is not out of the ordinary to see.  This stock remains in a downtrend and I’m staying with it for now with my original stop still in place.  I will be most interested to see how quickly it weakens the next time it faces some selling pressure, as that may give a better indication of how intent it is on heading lower.  For the moment, it’s holding above support and may simply be carving out a new low-level trading range.

EBIX triggered a buy on Friday as it marked a multi-day high and cleared the trend line, but there was no follow through and the stock instead fell right back into its short-term base.  My initial stop is still in place for now, as a move beneath that level would negate this pattern and therefore be grounds for dismissal.

Closed Positions:

COH rallied enough on Friday to push through the $62 area, triggering my stop as it made a multi-week high to exit the descending channel to the upside.  That was to be expected at some point, as descending channels tend to be resolved to the upside, but I had been expecting one more move lower within the channel, particularly after Tuesday’s decisive move lower.  I’m out with a modest 2.3% loss, and will leave this one alone until it sets up for another play.

P triggered a buy Thursday and held nicely above the trigger area, but on Friday fell right out of the gate to hit my stop, taking me out of the trade for a 3.3% loss.  These lower-priced stocks can sometimes bring quick reversals in this fashion, but this was a setup which had some real potential and therefore one which I felt was worth taking.  I’ll leave it on the radar in case it shapes up in the days and weeks ahead, as it does seem to have found support for the time being – it just apparently isn’t quite ready to rally yet.

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.

P triggered, EBIX added

Open Position Notes:

COH recovered from a weak morning to rally into positive territory by the closing bell, stopping once again just shy of the key $62 area.  That’s a bit of a concern to me being short, although for now the channel remains intact.  I would have expected to see another attempt at a move lower within the range, but thus far that hasn’t happened, so it could be that I’m stopping out of this one with a bit more strength.  I’m leaving my stop as-is and will exit if and when it is reached.  Could be that another test here without a breakout finally brings some selling, but we’ll see.

CRM weakened a bit more this morning, but then reversed higher.  Ultimately, it closed under Wednesday’s open, keeping this trade in the green and respecting the gap created yesterday.  I’m going to stick with this trade for now and see if it produces some follow through.

P triggered a buy today as it showed some nice morning strength and then held its gains nicely in the afternoon.  The stock finished a bit shy of its highs, but I liked how it held above the $10.50 trigger price despite a few shallow dips in the afternoon.  That adds validity to the level, so we’ll see if it can show some continuation on the upside now.

Closed Positions:

No closed positions.