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.
FFIV stopped, FLR added
Open Position Notes:
PLD slipped early on Friday, but was able to hold above my stop loss and finish flat on the day. That validates my stop for now, and although this one has initially failed to show follow through, I am going to stick with it for now. I’ll leave my stop as-is heading into Monday, and if this one can strengthen in the days to come, I may look to make an adjustment at that time. Earnings are due out on Thursday morning, so I’ll be out of this trade no later than Wednesday. Watch my Twitter or your email inbox for a possible exit alert intraday, as a decent pop to the upside will prompt me to book profits.
JOE triggered an entry on Thursday morning by breaking below the bear pennant pattern I’ve been watching, but since then it has shown no downside follow through and has stagnated. It ended the week on a flat note, finishing unchanged in Friday’s session. I’m going to stick with my existing trade parameters for now while waiting to see if additional weakness can arrive in the days ahead.
Closed Positions:
FFIV hit Target 1 on Tuesday, but since then has struggled to exhibit the relative weakness seen prior to that breakdown. I tightened my stop for remaining shares last week, and that stop was hit on Friday at $95, handing me a minor $0.10 loss on the 2nd half of my position. So, I’m out of this trade with a net gain of $2.15 or 2.2%. That’s a modest winner, but for a trade that failed to show follow through, it certainly could have been worse.
