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.
APKT stopped, OPEN removed (pattern negated, no trigger), RCII stop tightened
Open Position Notes:
RCII continued lower today as it undercut Tuesday’s low, getting within just 5 cents of Target 1 before bouncing slightly into the close. This stock is acting weak, and I’m encouraged by the price action here. I’m going to be looking for a move down through Target 1 tomorrow, and have adjusted my stop tonight to breakeven for this trade now that it’s getting underway. That leaves it some room to bounce and/or fluctuate if need be for Thursday.
Closed Positions:
APKT made a quick attempt to head higher off the open this morning, but quickly turned lower and never looked back. The stock undercut Tuesday’s low and then hit my stop to take me out for a 3.2% loss. I’m glad to be out, as the stock has now technically broken down and continued to come under pressure for the remainder of the session, shedding nearly 7% on the day. I’m out and will leave this one alone for a while due to today’s abrupt change of character.
