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.
FOSL stopped, VSEA triggered & stopped
Open Position Notes:
No open positions.
Closed Positions:
FOSL gapped lower today with the early market weakness, and triggered my stop loss soon after. The stock headed slightly further down before reversing back up and finishing right back into the recent consolidation zone. This move took me out for a 2.9% loss, which is frustrating due to the nature of today’s head-fake move. This stock is still in its uptrend, so I’ll keep it on watch for a possible re-entry in the days ahead. For now, I’m out and standing aside.
VSEA triggered a short sale this morning as the market was heading lower, indicating that this stock was ready to roll over as well from the recent bounce. However, the downside didn’t last, and the stock reversed higher along with the market. Ultimately, my stop loss was triggered in this one as well, handing me a 3.2% loss in the process. Here again, the head-fake nature of this move was no fun to endure, but stops must be kept in place in order to protect capital when stocks reverse. Given that this one continued higher, it negates the pattern altogether so I’ll avoid this one for now.
