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You are here: Home / Hit List / Hit List 5-9-2012

Hit List 5-9-2012

May 9, 2012 By Jeff White Filed Under: Hit List

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.

NUE & BIDU closed

Open Position Notes:

No open positions – 100% cash waiting on new entries.

Closed Positions:

NUE got well beneath Target 2 this morning in the pre-market, so hopefully some of you were able to take advantage of that.  I closed the last of my shares at $36.85 this morning (as per my email) for a nice 5.1% gain on those shares.  My overall exit on this trade yielded a profit of $1.70, or a 4.4% gain.  It was a nice trade, but now the stock is due for a rest after 6 consecutive declines.  I’m out with a gain and will await a new setup before considering another entry.  The overall trend is still down.

BIDU gapped lower this morning and eventually made a new correction low, although it remains shy of my original Targets.  As per my email notice today, I booked profit at $124.85 for a $7.75 profit or a 5.8% gain.  This was a very nice trade with no pain.  Although the stock remains technically broken, it is due for a rest after 6 consecutive declines and so is the overall market.  Given this is a high-beta name, it has the potential to gap and/or run higher on a bounce attempt, so I booked the profits in this one after a nice move and will now wait for a new setup to emerge.

About Jeff White

Jeff White started trading in 1998 and resides in the Dallas/Ft. Worth area with his wife and two sons. Twitter / Google+ / Facebook / StockTwits

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