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 stop raised, LTD triggered, OLN removed
Open Position Notes:
TNB finished poorly on Wednesday after a breakout attempt, and it wasn’t looking promising last night with the downside reversal. The stock did hold above support though, and today it jumped back up to make new recovery highs on a huge spike in volume, which is really encouraging. This took the trade from the red to the green, and it’s looking much better after today’s action. I tightened my stop tonight in order to reduce risk in the event of another reversal, but otherwise will be watching for some follow through in the days ahead.
LTD triggered a short sale today as it undercut the lower trend line of the wedge pattern I had been watching, and the stock spent a fair amount of the day in negative territory. However, the widespread strength helped this one to stabilize, and it finished the day back above the trend line. This one did underperform today by a considerable amount, so I’m content to stick with my existing stop and see if it makes an attempt to weaken again in the coming days.
Closed Positions:
No closed positions.
Gday,
LEAP one to watch for tommorow for a short as a daytrade, earnings after market today.
Good one to keep on watch, it has bounced from $12.84 twice in the past 7 sessions, so a break there could send it south. Thanks Tom!