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.
RYL triggered, TIE added
Open Position Notes:
DRI edged higher on Friday in a rebound effort from Thursday’s lows, but the upside volume that accompanied it was quite poor. I continue to like the overall price action in this stock, and am sitting tight in expectation of another decline. Minor bounces on light volume and heavier declines on higher volume is just what I want to see, and so far, so good. I’ll wait for better follow through before looking to make an adjustment to my stop.
RYL triggered a buy on Friday as it cleared resistance early in the session, actually gapping slightly through my intended price (as per the price shown in the grid below). From there, the stock struggled to show any follow through, quickly falling back beneath resistance to finish negative on the day. This kind of failed initial breakout is never an encouraging sign, but with a stop loss not far away, I’m going to stick with this one for now and see if it’s able to firm up in the coming days. Should it happen to hit my stop, I’ll certainly abide by that and exit accordingly.
Closed Positions:
No closed positions.
