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 & WFM stops tightened
Open Position Notes:
GRA finished higher on the day despite market weakness as volume picked up again with the stock tagging its best level ever. The issue I still have with this one is the fact that it’s not accelerating higher, so I’ve previously tightened my stop and have done so again tonight in order to reduce risk in the trade while waiting for a push toward my targets. The uptrend is still intact, it’s just curiously quiet here even though it has room to run. Keep an eye on Twitter & email as I may look to make an intraday exit should the overall market begin to weaken further.
WFM pulled back slightly today on increased volume, suggesting there was some heavy turnover taking place in the stock. In the near term, the high-level trading range is still intact and so is the multi-month uptrend, but the stock isn’t making any headway here and that’s a concern given the market strength we’ve witnessed. I’ve been patient with this one, but with the major averages starting to show signs of hesitation, I’m tightening my stop tonight in order to reduce risk in this trade. It has made a few attempts to get going, but each has resulted in a lack of traction. Had it made some better progress, I may have allowed it some room, but it’s stagnating so it deserves a shorter leash. Keep an eye on Twitter & email as I may look to make an intraday exit should the overall market begin to weaken further.
Closed Positions:
No closed positions.
