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 & ANR closed, ISIL triggered
Open Position Notes:
ISIL triggered a buy today as it moved up through the trend line at $15.05. I would typically prefer to see volume expand along with a move like today’s, but being right in front of Christmas that’s harder to come by. I did like the action in the stock though and the fact it finished above the trigger, so I’ll stick with it heading into Wednesday while waiting to see if we get some follow through. I may make an intraday exit on this one if conditions warrant it, so keep an eye on the Twitter stream (@TheStockBandit) and/or your inbox for a possible email update.
Closed Positions:
AGU has failed to produce follow through since triggering a short entry with a break of rising support, but I’ve been patient with it to see if it would weaken. Today the stock just seemed to have a bid beneath it, so shortly after the open I closed out the trade for a 2.2% loss rather than giving it all the way to the stop listed last night. I was thankful to have done so, as the stock did eventually move on up through that level as well. Shorts are difficult in a rising market, but I felt this one was worth taking. Once it became clear it was headed higher rather than lower, I closed it out in order to reduce my loss.
ANR hit Target 1 yesterday and then gapped up this morning, indicating it might be ready to run again. However, the stock came under early pressure and began to fill its gap so I took profits for a 2.7% gain as per my Tweet and the email alert sent out this morning. The stock soon filled the entire gap and went negative on the day, only to turn back up and take out the morning highs. Sometimes that happens, but for a trade I entered with the intention of booking fast profits, this one produced.
