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.
No changes
Open Position Notes:
FISV struggled to make headway today after a poor start took it negative, but the lows of the session were set in the morning and the stock battled back to finish essentially flat on the day. I’m still viewing the daily chart of this one as a consolidation within an uptrend, so although the progress has been limited I still like the setup here. My stop has already been raised once, so I’ll stick with my existing trade parameters until this one either makes bigger strides or begins to change character.
IPXL consolidated nicely today on lighter volume, which is a very healthy way to digest yesterday’s big run. I liked the fact that the stock still finished higher by 1 cent, not for the incremental gain but simply for the psychological aspect that even on a rest day it posted a gain. I’ve already booked 1/2 my profits in this one and have raised my stop for remaining shares, so I’ll stay with it while waiting to see if a push toward Target 2 comes along. So far, so good.
CNQ gapped slightly lower today and held the gap, which was encouraging after yesterday’s afternoon run. This one had finished not far from my stop as of last night’s close, so to see it come back in today is nice. I also liked the fact that today it actually sold off a bit intraday, finishing lower than where it opened on the weak gap. Regardless, it needs to get back down beneath the $42 whole number to confirm Tuesday’s breakdown, so I’m staying with it and doing my best to be patient while the battle continues between buyers and sellers.
Closed Positions:
No closed positions.
