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.
STT stopped, VMW & WMS stops raised
Open Position Notes:
CAG took on more of a rolling-over appearance on the daily chart with Friday’s continuation move lower, so let’s see if this one can pick up some speed on the downside. I’ve been very patient with this slow mover, but am ready to see more than just some minor profits.
VMW had turned higher early on Friday, appearing to begin another leg up before market weakness ultimately brought it down. It only gave up a few cents on the day, and is holding above the $56 area. Earnings are due out on Tuesday after the bell, so I’ll be looking to make an exit in the next 2 sessions – watch for an email and on Twitter. I’ve tightened my stop to $56 just in case we see some early weakness on Monday.
WMS gave up a little ground on Friday, but I was pleased with the rebound from its session lows. This one is still holding nicely above the breakout zone, so I’ve tightened my stop to breakeven and will otherwise wait for follow through in the days ahead. Friday was an important day of rest for the stock, so let’s see if it can gather strength again soon.
PDCO moved higher again on Friday, shrugging off market weakness to show some relative strength. My target for this trade is the $33 level, so it could be reached any day now. Let’s see if some follow through can be seen to take this one up to that zone.
Closed Positions:
STT got hit with the other financial stocks on Friday, stopping me out for a minor 1.4% loss. This constitutes a breakout failure with the move all the way back into the lower portion of the base, so I’ll leave this one alone for now.
