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.
MFC stopped, VSH added
Open Position Notes:
BEAV tested the downside Friday but was able to recover most of the way, giving back just a dime on the session. Volume was very light on the pullback, which is encouraging. I also like the fact that Friday’s bar was an inside day, and often times those prove to be continuation bars. I’ve already tightened my stop (as of Thursday), and will stick with my existing trade parameters heading into Monday while awaiting follow through.
Closed Positions:
MFC triggered my raised stop on Friday to take me out for a very modest 1.3% loss. This stock had gapped slightly through my intended entry on Thursday and was able to finish higher on the trigger day, but the upside volume was lacking and I noted that as a concern in Thursday’s Hit List notes. Because of that, I raised my stop to reduce risk on the trade, as light-volume trend line breaks have a higher failure rate. So, I’m now out of this position but will keep an eye on the stock in case it sets up for another entry.
