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.
WFM & RCL triggered
Open Position Notes:
GRA posted an inside day on Friday, staying within Thursday’s range as it pulled back on light volume to test the breakout zone. This appears to be a healthy day of rest, and I particularly don’t mind it given both the weak volume and the finish off the lows of the day. I’m sticking with my existing trade parameters for now while waiting for some follow through to the breakout.
WFM triggered a buy Friday as it pushed past the descending trend line with some mild volume expansion. The stock didn’t show a lot of momentum and I’d still prefer to see stronger volume accompany this turn higher, but it did close above the trend line and I’m encouraged by that. Here again, I’m going to give it a little time and freedom to fluctuate initially while collecting info on its price action over the next day or two. So far, it’s still poised for continuation higher.
RCL triggered a buy Friday with a turn higher in price which took it through the descending trend line marking the pace of the most recent dip. Volume improved slightly Friday from Thursday, but here again I’d prefer to see it expand more to accompany the price advance. I’m going to leave my stop as-is for Tuesday’s session and see if this one can produce some follow through. Ideally, it marks a new recovery high in the next couple of days, so we’ll see.
Closed Positions:
No closed positions.
