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.
FDX stopped, WX & CBT added
Open Position Notes:
WFMI gave up a little ground today as it finished about 1% lower, but it remains above last week’s lows. I have already tightened my stop on this one once, and am sticking with my current parameters while waiting to see if it can go ahead and completely fill the gap from August. It has struggled to bounce, so let’s see if it can exhibit just a little more weakness.
ILMN tested the downside today but ultimately finished just 2 cents from Friday’s closing level. The turn lower last week followed by today’s inside day implies more continuation could arrive soon, as well as today’s minor gain on light volume. I continue to like this play, and have tightened my stop slightly again tonight.
Closed Positions:
FDX got to within 6 cents of Target 2 today before backing off to trigger my stop loss, taking me out of the trade for a solid 4.7% gain on the 2nd half. This one really required some patience after a sluggish start, but it was worth it. Getting stopped out today is a bit frustrating given that the stock is trading higher after hours after raising guidance, but it was a good trade and I’ll watch for a new technical entry before considering a new position.
