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.
FCX closed, AA Target 1 hit & stop tightened, RRC added
Open Position Notes:
AA rallied further Friday to reach Target 1, where I booked 1/2 gains for a 6.5% gain. This stock is still acting well, and I’ve tightened my stop once again in order to further lock in gains and reduce my risk should we happen to see a pullback from here. I like the price action here, and will otherwise be watching for a push to Target 2 in the next few sessions. If the stock gets close and begins to hesitate, I may send out an intraday alert to book remaining profits via email & Twitter.
DRIV triggered on Thursday but dipped slightly on Friday with the overall market strength subsiding. This one is holding its gap for now, and I’ve tightened my stop in order to close it out for a minor loss should it happen to turn lower from here and begin to fill Thursday’s gap.
Closed Positions:
FCX continued higher on Friday to hit Target 2 where I closed out my position for a 6% gain. This one required a bit of a chase on the entry, but a reduced position size as per my Swing Trading Strategy on the gap still made it well worth taking for a trade. The stock now could stand to rest after this sizeable breakout, so I’m standing aside for now after booking a nice winner and will wait for a new pattern to emerge before considering another entry.
