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.
LZ stopped, MFC triggered & stop raised, BEAV stop raised
Open Position Notes:
BEAV showed some very nice continuation today as it rallied 2.5% on the heels of yesterday’s trend line break. Stronger volume would have been ideal, but today’s follow through is encouraging and I’ll be watching for an attempt at Target 1 in the coming days. With that level not too far off, I’ve raised my stop tonight to breakeven now that this one appears to be pivoting higher.
MFC triggered a buy this morning as it gapped just a few cents past the trend line to turn higher after the recent pullback. The stock was able to make some additional progress from there, although I’d have preferred to see stronger volume accompany the move. Nonetheless, I’ll be watching for some continuation in the short term now that the minor dip has been met with more buying. I’ve also adjusted my stop tonight in order to reduce my risk in the trade slightly.
Closed Positions:
LZ rallied this morning with the overall market, climbing just high enough to exceed my adjusted stop to take me out for a breakeven trade. I was doing my best to allow this one some room to fluctuate, but at the same time didn’t want to allow a decent winner turn into a losing trade, so my breakeven stop looked adequate after the past couple of days’ action. Regardless, I’m out for now but will wait to see if another technical entry sets up, and if so I’ll have it in the Broadcast.
