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.
EAT removed, LZ triggered, IVN removed (pattern failure – no trigger)
Open Position Notes:
LZ triggered a short entry on Thursday as it broke $107, but it wasn’t until Friday that it started making some headway. This one appears to be in the process of carving out a lower high on the daily chart after a weak bounce to fill most of a gap from a few weeks ago, and I’m watching for follow through in the coming days.
Closed Positions:
EAT stopped me out on Thursday as the stock rallied in the face of a declining market – something I didn’t expect given the technical condition of the stock. Nonetheless, I stuck with my stop to close out this trade for a 3.2% loss, opting to respect the action in the stock rather than try to fight it. The stock came right back down on Friday, but at this point isn’t acting like it wants to break down hard, so I’ll leave it alone for now.
