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.
FLR, SNDK, DOW Stopped
Open Position Notes:
GET rebounded some today with the market, but it stayed within yesterday’s trading range to post an inside day. My stop is still in place on this one and I’m willing to give it a little more time before looking to make any adjustments.
Closed Positions:
FLR worked great for us as an initial trade as it hit the 1st Target with ease. Since then the stock has struggled to show follow through, so I tightened my stop last night. Today that stop was reached, taking me out of remaining shares and giving me a net gain on this trade of 3.4%.
SNDK tried to roll over but couldn’t continue, and instead it turned higher today and pushed through my adjusted stop loss. I’m now out of this trade with a 3.1% loss, and will stand aside from it until a new pattern develops.
DOW triggered a short sale by undercutting a rising trend line, but today’s market strength brought a reversal in the stock, hitting my stop loss to take me out of the trade with a 2.5% loss. This is a small and manageable loss, and I liked the risk/reward for the trade. Unfortunately the big morning gap was simply too much to overcome, so I’ll wait for a new pattern to emerge in this stock before reconsidering an entry.
