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.
STT stopped, KIM triggered
Open Position Notes:
KIM triggered a buy today as it crossed $14.25 to clear short-term resistance. Volume was not very strong though, and by the end of the day the stock had returned to within a few cents of the resistance zone. Today’s move does mark the highest close for the stock since September, so I’m willing to see if it can get moving a little better tomorrow before I look to make an adjustment on my stop.
Closed Positions:
STT triggered my stop loss today as it undercut the $43.90 level, handing me a small 2.4% loss. This stock started out with a nice initial push higher after clearing $45, but Monday’s reversal quickly erased those gains and the stock headed lower. I was keeping my stop pretty tight on this one given that the move prior to the consolidation phase had nice momentum, so a continuation attempt should mimic that price action. However, it did not, so I’m now out of this trade with a small loss. I’ll keep the stock on my radar in case it sets up again, but for the time being it appears to still be in a consolidation phase.
