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.
FMCN & INFA stopped, STT & PBR added
Open Position Notes:
No open positions – currently 100% cash.
Closed Positions:
FMCN ran quickly higher on Monday and Tuesday, pushing through Target 1 to offer a nice chunk of partial profits on the first half of my position. Yesterday’s price action indicated some short-term fatigue however, as the stock made a new high and finished negative on the session with increased volume. My raised stop for remaining shares was triggered today as this one moved back down through $17, taking me out for a solid net gain of 6.1% on this trade. Fast money is my favorite kind, and this one offered that. I’ll keep it on the watch list in case it sets up again.
INFA cleared its trend line in timid fashion on Tuesday with price finishing off the session highs and volume lackluster. I tightened my stop in order to reduce risk just in case the stock became weak, and today that raised stop was hit. I’m now out of this trade for a very small 1.3% loss, and will wait for better price action before considering another entry in this one. Sluggish breakouts are a sign of fatigue, so naturally I’m impatient with them.
