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.
DLPH stopped
Open Position Notes:
GRMN was turned away from the $48 level again today as an early attack at that area resulted in a mild pullback into mid-day. From there, the stock stabilized and lifted slightly off its worst levels into the close, ending the day just slightly positive from my entry a few weeks ago. This stock remains range-bound, and aside from the $0.40 dividend, it hasn’t shown much progress. I’m doing my best to stay patient here, but the stock is acting sluggish. I may look to post an intraday exit in the days ahead, depending upon how it’s acting and what the overall market is doing. Should we see a pullback kick in, I’ll likely cut bait in this stock sooner than later.
FBHS made some nice progress today after some initial weakness to start the session was met with a lift, some rest, and then a steady uptrend into the closing bell. The stock went out at its highs of the day, and the volume expansion which accompanied today’s move was very encouraging. I’m now watching for some follow through toward Target 1, which could be seen this week at the pace this one is moving. I’d like to see it either build on today’s advance or simply hold onto today’s gains before looking to make any adjustments.
Closed Positions:
DLPH broke out yesterday from its triangle pattern, but couldn’t stick. As I’ve seen a few times of late with other first-day failures, this one resulted in a stop-out today as it took me out for a 3.8% loss. While I’m disappointed in the quick entry-exit combo, the fact is that this was a quality setup with good potential for follow through in a stock which has been in a steady uptrend since late last year. Given the same setup again, I’d still take it, even though this time it handed me a loss. I’ll leave this one alone for now as it apparently needs more rest before it’s ready to go.
