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 stopped
Open Position Notes:
No open positions – 100% cash.
Closed Positions:
GGC triggered a buy yesterday as it left its falling wedge pattern to the upside. Volume wasn’t inspiring, but neither was the overall market volume, so I wasn’t concerned about that aspect yesterday. I noted here last night that I wouldn’t expect the stock to reverse sharply after leaving the wedge, and I raised my stop a bit as a result. Today with the market selling off hard, GGC stopped me out for a 3% loss. It’s never fun to see an about-face turnaround in a trade which cleared a key trend line on a closing basis just last night, but a technical failure is grounds for dismissal so I’m out of this position and have no interest in the long side with the stock once again making new lows.
