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.
No changes
Open Position Notes:
GRA spent the past few sessions essentially moving sideways with minor losses Tuesday and Wednesday being followed by a slight gain today. Volume has remained curiously quiet while this one bases, so I’d certainly like to see it improve if the stock is able to turn higher. The trend is up and there’s blue sky above for this one to climb into, but at the moment the buyers just aren’t feeling any urgency so the stock is simply holding its ground. I’m leaving my stop as-is for Friday’s session, and if it’s able to start making some headway higher then I’ll look to tighten it over the weekend.
WFM pulled back from last Friday’s close into this morning, but held narrowly above recent support (and my stop) and was able to turn higher from there. I was encouraged by the intraday reversal into positive territory, although the stock made a multi-day high only to back off and finish inside the range of the past few sessions. Here again, light volume isn’t offering much assistance, but the overall trend is up and my plan is to stick with the trade while that’s the case. A push through the early-February high on some expanding volume would be very positive, so let’s see what we get in the days ahead. For now, my stop remains where it was originally set.
Closed Positions:
RCL hit my stop on Wednesday, but I’m just now updating this trade since there was no Hit List post last night due to travel. The trend line break from last week failed to materialize, so when the stock marked a multi-day low, it hit my stop to take me out for a 3.7% loss. Overall the trend remains up over the past couple of months, but the day to day action is sloppy so I’ll leave it alone for now.
