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.
CSX & SLAB triggered
Open Position Notes:
CXO tested the downside today but recovered to finish positive, ending up by 1%. The test of the breakout zone over these past two sessions has resulted in a slight gain so far, but this one needs to go on to make new highs at this point. No changes to my stop as of yet.
CSX triggered a buy today as it cleared $71.25. The gain wasn’t impressive, but I liked how the stock never looked back after it triggered. The recent highs were approached and respected, as today’s high came in just a few cents shy of the prior highs. Nonetheless, this is a solid breakout and I’ll be watching for continuation and improved volume in the coming days.
SLAB triggered a short sale this morning as it undercut the lower trend line of the rising wedge pattern shown in last night’s Bandit Broadcast. This one managed a slight bounce from its worst levels, but still finished negative on the day despite strength in the NASDAQ. Volume picked up a bit with today’s selling, so let’s see if this one can show some follow through in the coming days. No change to my stop yet, as I’d like to see this one make some better downside progress before looking to make any adjustments.
Closed Positions:
No closed positions.
