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.
GGC stop raised
Open Position Notes:
TMK pulled back today on light volume, filling the gap from last Friday exactly to the penny. This is healthy price action, and the stock is still maintaining its breakout, which is positive.
PCL gave back a little ground today, but stayed within Tuesday’s trading range. Volume did expand today, which is a slight concern, but for now this one is still holding slightly above the breakout zone, so I’m going to stick with it for now.
GGC pulled back early today, but was able to recover for the most part and finish lower by only a few cents. Volume on today’s dip was light, which is encouraging. This stock still looks poised for further upside in the days ahead, so I’ve raised my stop loss to breakeven for now. That should allow it plenty of room to fluctuate for now while not allowing this winner to turn into a losing trade. If some follow through is seen soon (and particularly if Target 1 is reached), I’ll look to make another adjustment.
CNW triggered a buy Tuesday but still has yet to show any follow through. Today the stock spent another session inside the channel, giving up a slight amount on light volume. I’m going to be patient for another day or two and see if this one can get back on the move. If not, I’ll look to make an adjustment.
CAG bounced slightly today despite the market weakness, which is not ideal to see for a short sale. I would have expected this stock to participate in the downside, but it rallied back up to fill Tuesday’s gap on lighter volume. My stop is in place for this one, so I’ll leave it as-is for now while waiting for some follow through.
Closed Positions:
No closed positions.
