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.
BIDU Target 2 hit & trade closed
Open Position Notes:
MOS gapped lower this morning but reversed higher, slightly taking out Friday’s high at its intraday peak. After lunch, however, the stock worked its way toward lower levels, finishing only slightly positive on the session. My stop has already been adjusted for remaining shares (1/2 position after Target 1 was hit last week), so I’m leaving this one a bit of room to fluctuate while waiting for some downside follow through. Today’s bounce on lighter volume and the lack of continuation on the rebound was encouraging though.
Closed Positions:
BIDU hit Target 1 on Friday, then gapped lower today and hit Target 2 shortly after the open. That allowed me to close the second half of this position for a very nice $12 gain in just 4 sessions, giving the overall trade a quick net profit of 6.9%. It’s nice when patterns play out as expected, and even better when they do so in just a few days’ time. So, I’m out for now with a nice gain, and am going to let this one rest for now and wait to see if a new pattern sets up for another entry.
