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.
No changes
Open Position Notes:
UHS posted a solid advance today along with the market, which was encouraging to see. The daily chart is starting to reveal a larger high-level base, so it could be that a little more upside push and this one could really make a nice move. For now, I’ve already adjusted my stop loss and am waiting for more follow through. The technicals appear conducive to more strength, but the buyers will have to produce it (along with some stronger volume).
MCO rebounded today after yesterday’s breakdown, but it didn’t recover it all. I’ve already taken 1/2 my profits in this trade, and have a stop loss at breakeven for remaining shares, so I’m trying to be patient with this one. The stock remains in poor technical shape, so I’m willing to stick with my existing trade parameters heading into tomorrow.
MTB bounced right back up today to reclaim the $78.50 level. Although today’s volume was weak, today’s bounce makes Tuesday’s breakdown look rather suspect. My stop is already in place for this trade, so it has a little more room to bounce if needed. Tomorrow could prove to be a pivotal day for this position, so let’s see what happens.
Closed Positions:
No closed positions.
