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.
MGM triggered
Open Position Notes:
CRM spent the whole morning in the red before a quick burst into positive territory. Ultimately though, that bounce was sold and the stock finished modestly lower on the session. I’m sticking with this one for now and doing my best to be patient, but the lack of downside follow through is starting to concern me and I may make an adjustment to my stop soon.
EBIX triggered a buy Friday then fell quickly back into its base, but today the stock stabilized with an attempt at an advance. Although the upside progress was minor and volume was light, the bullish pattern remains intact so I’m staying with this trade for the time being while waiting to see if it can make another push higher.
MGM triggered a buy today my making a 2-month high after pushing through short-term resistance. Volume picked up as well, which is encouraging to see on a breakout like this. Follow through will be important though, as today the stock simply didn’t exhibit great strength, perhaps due to the quiet overall market.
Closed Positions:
No closed positions.
