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.
TTWO triggered & stopped
Open Position Notes:
No open positions.
Closed Positions:
TTWO triggered a buy this morning as it hit $16.30, just edging past the descending trend line I had been watching. Rather than finding strength there, however, the stock lacked volume and subsequently fell enough to hit my stop, taking me out for a quick 3.6% loss. This kind of move is very frustrating, but it happens. Days like today where we see a stock like this begin to head higher through a key level and then the broad market comes under severe pressure leave the door open for this kind of a head fake, and that’s what happened here today. Rather than argue with the market or double-up in hopes of a bounce, my approach is simply to respect the stop I set and move on to the next trade. As I noted in tonight’s Broadcast video, there were some exceptional intraday opportunities from last night’s video which much more than made up for this one. Regardless, while the market remains caught in this range, I’m pleased to be back to cash tonight.
