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.
MCO stopped
Open Position Notes:
UHS marked a new intraday and closing high today for its current rally, both of which are very encouraging. The only issues I have with today’s action are the lack of strong volume to accompany the advance, and the finish off the highs of the session. This one has held up pretty well, but I’m still awaiting good upside follow through at this point. I’ve raised my stop once already, and will maintain that same stop heading into Friday.
MTB tested the waters on the upside today again, but ultimately pulled back to finish negative on increased volume. This stock is still slightly above the key $78.50 level from which I initiated this trade, but it’s flirting with it daily. I’m willing to give this one a little more time to make up its mind, as right now it seems unable to commit to a direction.
Closed Positions:
MCO bounced early in the session today, just enough to take out my tightened stop for the 2nd half of this position. I already booked solid gains on the first 1/2, but I’m now out of the trade due today’s early strength. The stock did fade later in the day and could continue lower, but I’m out with a gain and will now wait for a new pattern to emerge before looking to re-enter.
