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.
CCL stopped, RAX & FLIR triggered & stops raised
Open Position Notes:
RAX triggered a buy this morning as it gapped through the upper trend line I’ve been watching to open at $43.49, just over 1% above my intended entry. As per my Swing Trading Strategy, I took a reduced position to offset the initial added risk (farther distance from entry to stop). The stock backed off its best levels of the day in the afternoon, but still finished well. I’ve tightened my stop tonight for this trade, as I do want to see today’s gap hold, and otherwise will watch for follow through in the days to come.
FLIR triggered a buy this morning as it gapped just over 1% past the descending trend line to open at $33.66, again prompting a reduced position according to my Swing Trading Strategy. From there, the stock worked its way higher and finished well, so I’ll be on the lookout for follow through. Here again, I’ve tightened my stop on this trade, as I want to see today’s gap hold.
Closed Positions:
CCL gapped higher this morning with the broad market strength, triggering my stop loss on the open. I had tightened my stop multiple times recently due to the lack of downside follow through in this trade even after broken support, but today had to accept the opening price for my exit since the stock gapped past my intended exit. I’m now out of this stock with a minor 2.1% loss. The stock did ultimately fill the gap and finish negative, so I may give it another shot next week if it still looks poised to move.
