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.
AGU triggered, ATU & WYNN stopped
Open Position Notes:
AGU triggered a short entry for me today as it broke the rising trend line of support this morning at $80.40. The stock moved slightly lower from there, stabilized, and then reversed to finish positive on the day and reclaim that broken support. This may prove to be another head-fake, but for Friday I’m going to stick with my position and existing stop loss and see if this one shows any further signs of weakness.
Closed Positions:
ATU sold off hard at the open, triggering my stop to take me out of the trade for a 3.9% loss. The head-fake breakout in this stock was violent, and today’s drop back beneath the base is a signal that the character of this stock has suddenly changed. I’m out and will stay away from it for now.
WYNN broke support earlier this week and bounced back in a lazy fashion yesterday, indicating continued weakness once the buying fizzled out. Today however, the stock got an upgrade which sent it gapping higher, triggering my stop to take me out right after the open for a 3.6% loss. Headline-related stops are never any fun, but the stock finished another $2 higher from my exit, making me glad to be out. I’ll keep this one on the radar in case it heads back down to challenge support, but for now the stock is trying to head higher and I have no interest in fighting it.
ATU reported earnings this morning, as I discovered. That’s why the breakout was violent.
Thanks Ken, it’s really odd to see earnings at this time of year as the earnings season will begin again in January, but occasionally there are outliers like this one that stay under the radar. I’m more in the habit of checking earnings dates when it’s earnings season.
Trade well today & enjoy your weekend!