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 started out weak today but dip-buyers stepped in to protect last week’s support zone. Volume remains light as this stock churns near its highs, so I’d like to see it clear the $57.10 area to mark a new high and start gaining some momentum. I’m leaving my stop as-is for Tuesday’s session, but am getting close to making an adjustment simply due to the lack of movement here. I want to see my capital capable of making a return on the risk, and this one so far isn’t showing much of a gain – therefore it may warrant reduced risk soon with a tightened stop.
WFM challenged its early-February high today but stopped just shy of it. The stock did reverse higher from a weak start to move and stay positive, which is encouraging. Volume picked up as well, so perhaps this 3-week rest phase in the stock is finally coming to an end. I’ve patiently waited for it to get going since entering on the small trend line break just 6 bars ago, so with today’s turn higher in price on improved volume I’ll now be watching for some follow through in the next day or two. If it fails to produce it, I’ll likely make a stop adjustment.
Closed Positions:
No closed positions.
