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 stopped
Open Position Notes:
DRI posted its second straight inside bar today on the daily chart, staying within the confines of Friday’s trading range. Today’s action surprised me in this stock though, as it had been showing some relative weakness, and then today in a weak market setting it simply held its ground. I’ve tightened my stop for this one tonight in order to reduce my risk in this trade, but am still leaving it a bit of room to fluctuate if needed.
Closed Positions:
RYL triggered a buy on Friday, gapping slightly through my intended entry and only carrying a slight distance beyond that before reversing. From there, the stock struggled, slipping lower into today to trigger my stop and take me out for a 3.6% loss. Head fakes like this one are disappointing, but I still liked the risk/reward this setup offered. I’ll keep it on the radar in case it sets up again, as I do think this stock has based sufficiently for a nice run from current levels if it is able to gather a little attention.
