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.
FISV & IPXL & CNQ stopped
Open Position Notes:
No open positions – 100% cash.
Closed Positions:
FISV triggered a buy last week but made very little upside progress, instead lingering right around the breakout zone as it continued to consolidate near highs. However, Friday’s market weakness impacted this one, and it turned decisively lower to hit my stop and take me out for a very minor 0.7% loss. For a failed trade, this is about as small a loss as is possible, so given the breakdown which just took place I’m pleased to be out with minimal damage.
IPXL ramped higher early last week to push past Target 1, and I was giving it some room to fluctuate even after raising my stop on Wednesday for remaining shares. Friday’s weakness took this one right down to hit my stop, taking me out of remaining shares for a $0.75 gain on the 2nd half. On a net basis, this trade offered a 4.5% gain, so I’m out for now and will wait for a new setup before considering another entry.
CNQ opened weak on Friday and was starting to break down with the market, but it shifted directions mid-morning and ripped higher, hitting my stop to take me out for a 2.8% loss. Taking a loss is never fun, and while this one was well contained, it was a bit irritating that it moved up so much in the face of a weak market. Energy was one of the bright spots though, and sometimes that happens. This one appears to be breaking higher after a few weeks of indecision, so I’m going to leave it alone for the time being after this failed breakdown.
