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.
SM Target 1 hit, all stops raised
Open Position Notes:
MDR made a new recovery high today, but backed off to finish lower by a few cents. The net loss on the day was nothing to be alarmed by, but I don’t like the hesitation this one has shown since triggering a buy last week. New highs are just a short distance away, but with this one struggling to gather momentum, I’d like to see it hold up in this area. I’ve raised my stop tonight to just beneath the breakout area, as a test of that level shouldn’t result in much of a break (if a test does occur).
SM continued higher today to reach a new high and push past Target 1, where I closed out 1/2 my position for a quick $3 gain or 4% profit. I’ve raised my stop again tonight for remaining shares, and will look to lock in a profit should this one happen to pull back before hitting Target 2. So far though, it’s acting well, and I’ve given it some room to breathe for that reason.
ANR triggered a buy yesterday when it pushed past $61, but today the stock was again unable to hold that level even after clearing it intraday. This one is hesitating to confirm this bullish consolidation, so I’ve raised my stop tonight in order to reduce my risk in the trade should it happen to roll back over.
Closed Positions:
No closed positions.
