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.
