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.
No changes
Open Position Notes:
GRMN eased slightly higher in today’s session, but light volume most likely prevented a better move from taking place. Nonetheless, it did finish near its highs and the stock has a shot at clearing the short-term (past 7 sessions) descending trend line which could send it to the next resistance area near $48. I’d like to see that level cleared before the 3-day weekend, as this one has had ample time to start making its move and at this point I’m getting a bit weary of seeing it churn day after day.
FBHS gave up a few more cents today but it wasn’t much. I also liked how volume declined and price finished closer to the session high than the low, so perhaps that’s indicative that this little multi-day dip in price is coming to completion. I’m staying with it for now and have not yet made any adjustments to my stop. Should the stock turn higher from here, I will likely make an adjustment, so we’ll see if it can gather some interest in the next couple of days.
NIHD pulled back today on continued light volume, but the stock just trended lower intraday. It still has some room before my stop would be hit, so it could be that it’s just a test of short-term support. I’m going to stick with my existing trade parameters heading into tomorrow’s session, but this one needs to stabilize pretty quickly or else I’ll be punting it.
Closed Positions:
No closed positions.
