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.
BLK stop tightened
Open Position Notes:
BLK has worked steadily lower since triggering a short entry for me last week, and I like how this one has acted. On Friday, it seemed to have exhausted itself a bit as it was down early in the session but finished up a penny. That isn’t much, but it did so in the face of a very weak market, and volume was its highest in a couple of weeks. The stock bounced just slightly above my Targets, so it may be time to ring the register here as that $181 zone is support. I may look to make an intraday exit (not waiting for my stop or targets to be hit) so keep an eye on your email inbox and/or Twitter just in case you want to know how I’m managing this one. I’ve tightened up my stop a bit tonight but am still leaving it room to fluctuate.
NUE sold off hard Friday with a 2% decline on its best volume in nearly 2 weeks. This marked not only a new correction low for the stock since topping in February, but it’s also beginning to fill the gap from last November. The stock isn’t far from Target 1, so I’d expect to be able to book partial profits pretty soon. If so, I’ll look to make a stop adjustment at that time.
BIDU turned nicely lower on Friday as it gave up 2.3% on increased volume. It’s now approaching the April low, and has a good shot at picking up some steam if we see a new correction low created. I’m sticking with it for now with my stop as-is heading into Monday’s session.
Closed Positions:
No closed positions.
