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.
CLR triggered
Open Position Notes:
GRMN turned slightly higher today after closing in a 14-cent range for the previous four straight sessions. Although the stock has yet to make a multi-day high (needs to clear $48 to do so), I’m encouraged by today’s advance. It was an under-the-radar type of move and could see some follow through, so I’ll be watching for that tomorrow as well as some volume expansion to accompany it. The strong finish was nice, and I’m leaving my stop as-is for Thursday.
CLR triggered a buy today as it crossed the descending trend line at $89.60 to head quickly higher. The strength was short-lived, however, as the pullback from the morning high never stopped, and instead turned into an all-out reversal to fall back beneath the trend line and finish negative on the day. The one saving quality about today’s action was the quiet volume it happened on, although trend line breakout failures like this generally don’t end well. I’m prepared to stop out if need be, but hopefully it’ll hold steady and we can see how it acts on the next attempt.
Closed Positions:
No closed positions.
