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.
CBT & MDVN & VNO stops tightened
Open Position Notes:
CBT showed some nice relative strength the past couple of days, but today it put in some rest, giving back only a few cents. This one has been rather sluggish and with the exception of Tuesday, volume has not confirmed this move. As a result, I’m going to stick with it and watch for follow through, but with a pretty tight stop as of tonight in order to lock in some gains should this one happen to fade. The slow move higher on generally light volume is not a look I trust very much.
MDVN opened slightly higher today and quickly added to the early gains, running right up within 4 cents of Target 1 before backing off slightly and spending the remainder of the session in a narrow range not far from the highs. Today’s move is good follow through with the stock now reaching new recovery highs, and it bodes well for continuation in the days ahead. With Target 1 very close by and with volume still not confirming this advance, I’m tightening my stop aggressively tonight.
VNO spent the bulk of the day in positive territory, although it never really showed much momentum. Volume was rather quiet as well, so I’m still waiting for follow through here. I’ve adjusted my stop loss tonight to bring it up a little tighter, requiring a multi-day low to occur in order to take me out. However, if the stock will turn higher from here it will be irrelevant. A solid push through $71 is likely what it’ll take.
Closed Positions:
No closed positions.
