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.
MON triggered, SLAB stopped, CSX & CXO Target 1 hit (booked 1/2 profits) & stops raised
Open Position Notes:
SWK gapped lower this morning, and by mid-morning had filled most all of the gap to get back to the flat line. It weakened just slightly into the afternoon though, leaving it just beneath the resistance level it had cleared late on Friday. I’m still going to stick with this one for now, but would like to see it attempt to clear resistance again.
CXO ran higher this morning, taking it right through Target 1 where I closed out 1/2 my position for a 4.1% gain. It was able to push slightly beyond that level before backing off and resting for the remainder of the day. Today’s action was very positive, and the stock still looks poised for higher prices. I’ll be watching for more follow through in the days ahead, and will raise my stop for remaining shares now that Target 1 has been reached and while I wait for a possible move to Target 2.
CSX continued nicely higher today on stronger volume, pushing past Target 1 where I booked profits on 1/2 my position for a quick 4.2% gain. This one finished not far from its intraday high once again, although it did put in a bit of rest this afternoon. I like how this one is acting, and will be watching for some rest to kick in soon after this nice multi-day move. I’ve raised my stop for remaining shares tonight, and will be watching for a move to Target 2 in the coming days.
MON triggered a buy today as it moved through the upper trend line at $75.80, but the stock just didn’t have the power to keep going. Instead, it backed off slightly to finish the day only slightly positive and back inside its consolidation zone. I’ll be watching this one closely in the next couple of days to monitor the action, and may look to make an adjustment if another attempt to push through the trend line doesn’t occur soon. For Tuesday, I’ll stick with my existing stop loss.
Closed Positions:
SLAB bounced again today, refusing to roll over after last week’s trend line break. Today’s move stopped me out for a modest 1.9% loss, and I’m going to leave this one alone for now given that the pattern has failed and the stock is again retracing the decline from the highs.
