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.
NIHD stopped, JEF removed (no trigger, pattern not ready)
Open Position Notes:
GRMN pulled back again today to incrementally break the March low intraday, only to recover just enough to hold it on a closing basis. My stop isn’t far away, and in fact was just a few cents from today’s low, so this one is still in danger of stopping me out. That said, the near-term range is still intact as is the gap from Feb 22. This one has really struggled with the $48 level of late, which has prevented it from climbing higher. I’m still in with the $46.25 stop so we’ll see if it holds ahead of the 3-day weekend.
FBHS posted its 5th straight decline today, but it did hold recent support and the stock did recover from its intraday low. I’m staying patient right now with this one to see if the next lift in price is able to gather some momentum. For now, this seems to be a test of price so I’m letting it play out while maintaining my original stop.
Closed Positions:
NIHD gapped lower this morning then continued down in the opening minutes, only to reverse back up and finish nicely positive by the end of the day. Unfortunately though, the early weakness triggered my stop to take me out of this trade for a 3.8% loss. I’m disappointed to have been shaken out on such a quick downside test, but I’m going to keep this one on watch in case it sets up again soon as I may give it another shot.
