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.
NAV & KIM stopped, JAH & IOC added
Open Position Notes:
No open positions.
Closed Positions:
KIM head faked last week as it attempted to break out but couldn’t hold above resistance. Instead, the stock fell back into its congestion area, and Friday’s weakness triggered my stop loss. I’m now out of this trade with a 3.5% loss, which is disappointing after the quick turnaround. Nonetheless, this stock isn’t acting ready to run, so I’ll take the loss and wait for a new pattern to set up before considering another entry.
NAV tried to break out last Thursday by poking through resistance, but here again this stock fell back into its consolidation zone. I tightened my stop Thursday night because of the failed initial breakout, and my stop was hit Friday as weakness set in, handing me a 2.1% loss. This one may need more time to consolidate, so I’ll leave it alone until it can exhibit better strength.
