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.
KKR triggered
Open Position Notes:
ARBA gapped higher this morning but quickly came under pressure and went negative. The stock found support intraday about $1 above my stop, and then stabilized from there. It spent the rest of the session bound between the morning low and high, but I liked the late-day buying which took it back positive on the day by the bell. This stock continues to act well, and overall looks to be resting. I’m sticking with my raised stop on my remaining shares after booking 1/2 profits last week at Target 1.
FMC struggled to the finish last Friday, but today it got back on track with a solid advance. It stopped just shy of the prior high (set on 5/19), and backed off slightly from there. Nonetheless, this stock is progressing alright, and I liked how volume returned today on the advance. I’m going to stay patient with it for now, looking for at least a higher high and some more progress toward the targets before I look to make an adjustment.
KKR triggered a buy today as it cleared the descending trend line and made a multi-day high at $17.25. Even though volume picked up with today’s action, it apparently wasn’t quite enough to really push it higher on the day, as it finished just a few cents from the trigger. I’m going to stick with this one for now and see if it can gain some traction in the days ahead, as it may simply be a bit of a late bloomer and play catch up to the market in the next few sessions.
Closed Positions:
No closed positions.
