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.
TNB stopped, RTI 1st Target hit & stop tightened, JNPR stop tightened, HON added
Open Position Notes:
RTI turned sharply lower today with an excellent breakdown, taking it through my 1st Target where I booked 1/2 profits. The stock continued lower on heavy volume, and looks poised for follow through here. With this one having broken down and the potential which remains, I’ve tightened my stop tonight for remaining shares just in case it happens to rebound sharply as I don’t want to give back much. Otherwise, I’ve left it a few percent to fluctuate if needed while waiting for follow through in the coming days.
JNPR broke down today with some heavy selling for the first half of the day as the stock moved well beneath broken support. A partial rebound was seen in the afternoon though, bringing it up from its worst levels. Nonetheless, today’s high-volume breakdown is encouraging, so I’ve tightened my stop again tonight in expectation of follow through. If I don’t get it, my risk has effectively been removed with the breakeven stop I now have.
CVX pushed north of key resistance yesterday but light volume couldn’t produce follow through, and today’s market weakness allowed this one to slip a little deeper back into its recent trading range. The pattern is still overall bullish, but it appears this stock simply isn’t ready to run yet. I’m going to leave my stop as-is, because the risk here appears minimal and my stop was validated today as price came close but didn’t hit it. Perhaps it can shape up in the next few days, but if not my risk is defined.
Closed Positions:
TNB started out a little hesitant with an initial breakout failure, but the stock gained traction soon and ran nicely for me. It moved steadily through my 1st Target, and neared the 2nd Target before finally getting taken down a bit with the market weakness today. Last night I raised my stop for remaining shares just in case we saw a pullback kick in, and today that stop was triggered to take me out of this play for a solid 6% gain. The overall trend is still up in this stock, but it needs some rest at this point so I’m going to keep it on the radar in case it sets up again. Nice run though.
Hi Jeff,
Looks like setup is changed. Where is nightly video with market commentary ?
Thanks,
-Abdul
Here are Jeff’s notes on this, Abdul…
“Tonight will be written format as that’s what works best for me, but we’ll return to the video format next week. I’m setting up some day trades and swing trades heading into Friday, so here’s what’s on my radar with my notes on the charts themselves.”
Hey Abdul,
Only for a day or two, this is not a lasting change. The videos are still my preferred method of delivery, so I’m not looking to change that. I just couldn’t record yesterday so went with the written, old-school format!
Jim – thanks for chiming in to help out, really appreciate it. It’s my hope that all Bandits will feel free to help each other…I’m happy to help but this is a community and that means we can all help one another. Thank you.