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.
FBHS stopped, TEX removed (pattern negated without triggering)
Open Position Notes:
No open positions – 100% cash.
Closed Positions:
FBHS declined further today to trigger my stop loss, taking me out of the trade for a 3.5% loss. While I’m disappointed with taking the hit in this trade, the setup was one I felt comfortable with and would take again if given a similar opportunity. The initial movement in the trade was positive with the stock pushing to new highs, and the light-volume pullback had held support prior to today’s heavy selling in the overall market which this stock simply couldn’t withstand. I’m out with a manageable loss and will now wait for a new pattern to emerge before considering another entry.
