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.
PXP stopped
Open Position Notes:
No open positions – 100% cash.
Closed Positions:
PXP triggered a short sale this morning as it gapped through my intended trigger price by just over 1%. As per the swing trading strategy I abide by, I took only 1/2 a position for this trade due to the gap. Anytime that occurs, the risk/reward profile for the trade is altered from its original structure (adversely), and therefore I reduce my size. The stock attempted to trade lower initially, but reversed back up to stop me out for a 4.2% loss. This is the 3rd consecutive swing trade which has triggered and stopped on the same day, which is a testament to the volatility of the current environment. I’ll wait for a new pattern to emerge in this one before considering another entry.
