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.
RAX & FLIR stops raised, WFT added
Open Position Notes:
RAX challenged Monday’s high today but was unable to clear it, and subsequently turned lower as some profit-taking kicked in. The gap from last week is still intact, which I am encouraged by, so I’m going to stick with this one and see if the uptrend can continue. I’ve bumped up my stop slightly but am still allowing plenty of room as this one rests not far from highs.
FLIR continued higher today, finishing just 5 cents from Target 1. I am expecting that level to be cleared tomorrow, so as a result I’ve raised my stop tonight for this trade. It’s approaching the prior highs, and I particularly liked today’s action on a notable pickup in volume. Good action here so far.
PAY pushed to new highs today after triggering and acting well on Monday, but profit-taking kicked in and the stock slid lower for most of the session. Today’s bearish engulfing bar on elevated volume isn’t technically the kind of action I like to see, but I’m going to be patient for now and leave my stop in place. Should this one weaken further tomorrow, I’ll stop out according to plan, but otherwise want to see if it can stabilize and make another attempt at a turn higher.
Closed Positions:
No closed positions.
