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.
GET 1st Target hit, Stop tightened, SHAW added, MAC removed
Open Position Notes:
GET finally broke down today with some greater intensity than we’ve seen. I’ve been patient with this one, and it finally started paying off today as the 1st Target was reached for a 6.3% gain. I now have a 1/2 position in this one and have tightened my stop for remaining shares while waiting to see if a move can me made to the 2nd Target in the next few days. So far, so good.
GDP has been reluctant to run since triggering an entry, and today it was attempting to head higher until the afternoon market breakdown. That brought a reversal in the stock, and it’s now not too far from my stop loss level. I’ll stick with it for now, but at the moment this appears to be a bullish setup which simply isn’t ready to head higher. If not, I’ll stop out and stand aside.
Closed Positions:
No closed positions.
Jeff,
I see DWA still on your watchlist. Looking at the chart, what do you see as a possible price target to take profits on a short from $33.14? Thank you, Jim
Hi James,
I know that your question is for Jeff, but I’m looking for this one to re-test the previous low at $32.05.
Nice trade, by the way.
SHAW short price has been corrected in the grid above, please note the trigger I’ll be using is $28.10.
Jeff
Hi Jim,
Like Omar, I would also expect DWA to at least test the $32 area where the prior low is from a couple weeks ago. Beyond that, the $31 area from early-August would be the next support I would expect the stock to gravitate towards.
Hope the week is going well for you!
Jeff
Thank you both for the replies about DWA. I jumped on DWA a little ahead of trigger price, but with the market’s weakness, it looked like a good trade. Jim
Just an update here on the DWA short position I took at 33.14…I am trailing a stop behind as I follow the visible downtrend line. If the market will just cooperate a little bit more I will be happy! Jim
That one’s acting well Jim, nice work. Next stop looks like the $30 neighborhood (June resistance / August support). I like the fact it got through the prior low today.
Jeff