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.
VNO triggered, CBT & MDVN stops tightened
Open Position Notes:
CBT gapped higher this morning, but gave up its early gains with a test of the downside. It didn’t spend much time there though, and by late morning it was trending higher. Late in the day, it stabilized, holding onto its gains well in order to post a breakout on a closing basis. This is encouraging, as the stock has been reluctant to run for the past few days. Nonetheless, today’s move did come on light volume, which makes it a bit tougher to trust. As a result, I’ve raised my stop tonight while still trying to leave it a little room to fluctuate while waiting to see if follow through arrives.
MDVN saw some early selling pressure today, but only was able to break Friday’s lows by a small amount before it stabilized and turned higher. It trended for the remainder of the session, posting a solid gain by day’s end. This is encouraging, so with the expectation of more strength based on the brief dip, I’ve tightened my stop loss tonight in order to further reduce risk in the trade.
VNO triggered a buy today as it cleared the trend line at the $70 level, and initially it hesitated. Early strength was quickly surrendered, and the stock moved negative on the day. However it did stabilize, and the stock behaved very well from that point forward with some nice strength to close out the day. I’m leaving my stop loss as-is for now in order to allow this one some room, but if it is able to continue higher then I’ll make an adjustment.
Closed Positions:
No closed positions.
Hi Jeff,
Appreciate if you give some comments.
Now a days lot of talk about carbon trading
What is your thought about it ?
Is there any good ticker/strategy if we want to put some money for long term/investing purpose ?
Thanks,
Abdul
Hey Abdul!
I think we’ll see more emerge with the carbon talk, possibly some ETF’s in the future which will help offer a play on stocks related to that. However, right now the scope is pretty limited in what’s playable, so I think this may need to be revisited at a later date. EEI is one emissions play, but the chart isn’t bullish and it’s terribly illiquid. The only other real choice is to go on the LSE (London Stock Exchange) and buy some CLE (Climate Exchange – the company that owns the carbon exchange). Otherwise, I think for now the opportunities are limited, but that we’ll see more come along over time.