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.
VMW stopped, CAG stop tightened
Open Position Notes:
CAG finished lower by a few cents, but overall this one has about reached my time stop since it’s only profitable by a small amount to this point. The daily chart has a rolling-over appearance to it, but the downside momentum is still absent. I’m therefore tightening my stop tonight to breakeven, so that if this one turns back up through my trigger price I’ll exit the position. It seems to be carving out a trading range here, so if that proves to be the case, I would rather exit with no harm and focus my efforts elsewhere. And if it can weaken further, that would of course prove beneficial to this trade.
WMS pulled back slightly today, but generally respected Friday’s trading range and it finished off its worst levels. I’ve noted lately that this one could be due for some rest, so I’m exercising some patience here with my previously-adjusted stop loss while waiting for more upside to arrive.
PDCO put in some rest today with a narrow-range bar and a minor loss, and this one is trying to consolidate above the recent breakout zone. Here again, I’m going to exercise patience while waiting for some follow through, and have already raised my stop once. I’ll wait for a new high before looking to make another possible adjustment.
Closed Positions:
VMW is set to report earnings on Tuesday after the bell, so with that news coming up, I had tightened my stop for remaining shares last night with a plan to exit on additional strength should it happen to arrive. Today the stock backed up enough to trigger my stop for remaining shares, taking me out of the 2nd half of my position. I’m now out with a gain of 3.6% on this trade, and with major fundamental news now on the way, I’ll wait for a new technical setup before looking to re-enter.
