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.
FDX Target 1 hit, WFMI & FDX stops tightened
Open Position Notes:
FDX continued higher today to push through my 1st Target where I booked 1/2 profits for a 3.3% gain. This is a pretty slow mover and I’ve been patient with it, but now that it has gotten back on track I’m going to go ahead and raise my stop tonight for remaining shares. I still plan to be patient with it while waiting to see if the 2nd Target can be reached, but my original stop is now a bit too distant so I’ve tightened it up tonight. I will say it’s nice to finally get paid on this one after all the waiting around of the past 2 weeks.
WFMI couldn’t stay down today with the market rallying, and it bounced 1.7%. This one has been showing some relative weakness to the overall market, but it has also been reluctant to really gather downside momentum toward the unfilled gap from August. Today’s weak finish was encouraging, but I’ve tightened my stop tonight to breakeven, which still gives it plenty of room to fluctuate if needed while also removing my risk from the trade.
Closed Positions:
No closed positions.
Hi Jeff,
It’s good to see you commenting on the day trading aspect of things in recent posts.
I’ve been watching Starbucks lately (SBUX). It has been meeting resistance at $22.05 for the past 21 weeks in what looks like an ascending triangle and and seems to be getting into a narrower range.
I am looking for a breakout through the $22.15 level
Any thoughts?
Kim
Hey Kim,
I like the SBUX setup, nice well-defined trading range there in the $21-$22.10 zone. I like your breakout level of $22.15 as well, think it could get back on the move if it can take out that level. I also find $21 of interest, as that was former resistance (Sept & Oct) and is now serving as support, which is technically healthy. Good find, it’s definitely one to keep an eye on!
Hmm… I of course meant the past 21 days / 3 weeks