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.
PDCO triggered, STT & PDCO stops tightened
Open Position Notes:
CAG bounced slightly today with the market strength, but it did underperform and the stock still remains beneath the recent bounce high. I’ve been very patient with this slow mover, and although it’s struggling to make any headway on the downside, the daily chart still looks to be carving out a potential lower high in this area. I’m sticking with it for now.
VMW got a tightened stop last night for remaining shares (already booked 1/2 profits at Target 1), and today the stock put in more rest. Rather than rally with the market and build on Monday’s strength, it instead pulled back and then bounced, finishing the day right near Tuesday’s closing level. I’m still looking for continuation in this stock, so let’s see if it makes up some ground on Thursday.
WMS turned nicely higher today, rallying on its heaviest volume in a few weeks as it began to fill the gap from last October. This is very encouraging to see, and I’m looking for a push to Target 1 in the next day or two based on this action.
STT struggled to make any headway today after a gap up which marked the high of the session. The stock sold off and went down to test the area of the breakout, before recovering to end the day flat. I mentioned last night that a test of the breakout may be needed, so today’s move isn’t entirely unexpected. Nonetheless, I would like to see this one gather some upside traction soon now that we’ve seen a successful test of former resistance, and I’ve tightened my stop tonight as well in light of that.
PDCO triggered a buy today and pushed nicely higher, ending the day right near its highs for a solid breakout. I’ll now be on watch for continuation in this stock, looking for a move toward my Target in the days ahead. Given the strength of today’s breakout, I would not expect to be entirely given back very quickly, so I’ve tightened my stop loss for that reason.
Closed Positions:
No closed positions.
