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.
CXO closed (Target 2 hit), MOLX triggered, CSX stop raised
Open Position Notes:
SWK gapped higher this morning and held, moving to a new intraday high. It finished a bit off its best level of the day, but reclaimed the breakout zone in the process. I’m encouraged by today’s price action, and now would like to see some follow through take place, ideally on increased volume. Leaving my stop as-is for now.
CSX pushed to new highs again today, showing excellent follow through. Yesterday this one put in some minor rest, but returned to strength again today. This one is now just a short distance from Target 2, so I’ve raised my stop again for remaining shares in order to lock in a solid gain should it happen to turn lower from here. Very nice price action out of the base from last week, wish they could all be this smooth.
MOLX triggered a buy today as it cleared the upper trend line of the bullish wedge I had pointed out in last night’s Broadcast. This one also made a new intraday and closing high with today’s strength, giving it a nice start. I’ll be watching for follow through in the days ahead now that it has broken out, and would prefer to see volume improve as well. I’ll leave my stop as-is for now.
Closed Positions:
CXO ran higher again today, topping out right at Target 2 where I booked remaining profits. My average exit gave me a very nice 5.6% gain without having to endure hardly any downside. This stock has now advanced 8 straight sessions, and needs to put in some rest. I’ll keep it on the radar in case it sets up for another play, as this one was quite nice.
