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 triggered, WFMI & ILMN stops tightened
Open Position Notes:
WFMI started the day on a weak note, heading quickly lower right from the open after a downside gap. The stock did recover a bit from its lows of the session, but overall today appears to be the start of the continuation I’ve been waiting for, so I’ve tightened my stop once again tonight. My Target isn’t far away, so with a little more weakness we could see that hit very soon.
ILMN gapped down and never recovered, finishing the day only a short distance from its lows. This one continues to act well, and I’ve tightened my stop for this trade tonight in order to lock in some profits just in case it happens to turn higher. Otherwise, I’ve left it some room to fluctuate, so let’s see if today’s weakness can find follow through tomorrow.
CBT triggered a buy today as it exhibited some relative strength with a breakout through resistance at $25.05, but it wasn’t able to hold the breakout on a closing basis, falling back just shy of resistance by the end of the session. I do still like this setup and will remain patient for now while waiting for follow through to arrive.
Closed Positions:
No closed positions.
