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.
ADTN & WLL stopped
Open Position Notes:
No open positions – back to 100% cash tonight.
Closed Positions:
ADTN has shown hesitancy to advance ever since it first triggered. The first time it crossed $34 (last Friday), it failed to hold that level on a closing basis. This week, on Monday it cleared Friday’s high, only to reverse lower on the day. Tuesday we saw a rally, followed by more strength Wednesday, only to see it balk again and finish negative. So last night, I tightened my stop due to this hesitancy, and today was taken out of the trade. I feel great about making the adjustment, and exited with a smaller loss than I had originally prepared for, so for a failed trade, that’s alright. I’ll keep it on watch in case it sets up again, but for now it clearly isn’t ready so I’m out with a small 1.7% loss.
WLL ran higher into Wednesday afternoon, pushing past Target 1, but an afternoon selloff erased much of the gains. Last night I tightened my stop in order to lock in profits on the overall trade should the Wednesday selloff prove to be a warning signal, and today was taken out of the remainder of my trade as the stock faltered. This one simply failed its breakout, so I’ll accept the 1.1% gain for a failed trade. That’s nothing to be excited about, but this was just another example of how good money management can prove beneficial when a trade starts to send mixed signals.
