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.
TSLA triggered & stopped
Open Position Notes:
No open positions – 100% cash.
Closed Positions:
TSLA triggered a buy today as it crossed the upper trend line of the symmetrical triangle I pointed out in last night’s Broadcast, and initially we saw a nice pop. The stock soon approached $34, but a pullback turned into a reversal and the stock headed south to stop me out for a quick 3% loss. Today’s move constitutes a breakout failure, and particularly with the added volume on today’s bar I don’t like the looks of this setup. I’ll keep it on watch in case it starts acting better, but with a nice initial breakout today turning into a failure, that’s not the kind of move I’d expect from a pattern of that nature.
