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.
MDR triggered, RCL stopped, SM added
Open Position Notes:
MET bounced today alongside the strong market, although it held beneath last week’s bounce highs and today’s volume was very light. Additionally, it finished off its highs of the session, which showed little conviction on the part of buyers. This one may still rally further and stop me out, but for now I’m sticking with it and keeping my original stop in place.
MDR triggered a buy today as it cleared the trend line at $25.10. Price finished above that level with some afternoon strength, although volume could have been more impressive. I’m going to stick with this one for now, as I still like the setup and perhaps greater participation (volume) will arrive in the coming days.
Closed Positions:
RCL rallied today to hit my stop loss, taking me out of the trade with a 3.7% loss. To see key support get broken and then defended is disappointing, as this stock has been grinding its way lower for many weeks and the technical breach appeared likely to invite some more intense selling. Nonetheless, I won’t fight it but will keep it on the radar in case it returns to key support.
