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.
CAG stopped, WMS & PDCO stops raised
Open Position Notes:
WMS posted a solid gain today, reaching a new multi-month high as it climbed higher into the unfilled gap from last October. Target 1 isn’t far away now, and today’s action indicates the prior two days of rest were enough to generate higher prices. I’ve tightened my stop tonight, but overall I like the way this one is acting.
PDCO pushed higher today after some brief consolidation in recent days, hitting a new 52-week high and ending the day at its best levels of the session. My target isn’t far from here, so I’ve tightened my stop tonight while I wait for more follow through.
Closed Positions:
CAG simply couldn’t get going very far in my direction, so last night I essentially implemented a time stop by moving my stop loss to breakeven. That way, I’m either taken out with no harm done, or the trade works in my favor. Today I was stopped out at my entry price of $25, and it seems this stock simply isn’t ready to move lower at this point. A trading range may be emerging here, so I’m going to step aside and leave it alone for now.
