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 hit Target 1 and stops raised, PAY stopped, PWRD added
Open Position Notes:
RAX gapped higher this morning and held the gap after spending a couple of hours in a choppy range. From there, the indecision was resolved with strength, taking this one right to Target 1 where I closed out 1/2 my position for a 5.3% gain. I’ve raised my stop for remaining shares while I await a push toward Target 2. Today’s move was decisive and came on strong volume, which is technically healthy.
FLIR continued higher today with a steady intraday uptrend after some early weakness, pushing nicely through Target 1 where I closed out 1/2 my position for a 3.6% gain. I’ve raised my stop for remaining shares while waiting for a push to Target 2, which isn’t far away at all and could easily be seen as soon as tomorrow. So far, so good.
Closed Positions:
PAY reversed lower on Tuesday and this morning we saw additional weakness on the heels of that. I was subsequently stopped out of my trade for a 3.1% loss. The breakout had failed, although the stock did recover this afternoon to finish just beneath the area of the trend line break. Nonetheless, I’m out with a manageable loss after this initial failure, but will keep this one on the radar in case it shapes up for another move.
