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.
GRA stop tightened
Open Position Notes:
GRA pushed higher today to mark a new high, but it wasn’t a really impressive day. Volume increased, which was nice, but price essentially finished in the middle of its intraday range. The $57.10 area where the prior intraday high had been from mid-February was only briefly cleared. The stock did post a new closing high as well, so I’ve tightened my stop a bit this evening in order to reduce my risk in the trade. I’ve been patient with this one, so we’ll see if today’s advance is able to jump-start the stock into another meaningful leg higher.
WFM neared Monday’s high early in the session, but backed away for the remainder of the session to finish lower on expanding volume. Today’s bar was an inside day, but I’m not reading much into it given that this stock remains essentially in a high-level channel over the past couple of weeks. I’m sticking with my existing trade parameters for now, although I may look to tighten my stop this week at some point. My concern is that this trade is only showing minimal progress and at this point is starting to feel like dead money given the lack of follow through since the initial turn higher.
Closed Positions:
No closed positions.
