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.
UHS stopped, MTB Target 1 hit & stop tightened, BIG & MHP added
Open Position Notes:
MTB gapped lower on Friday and continued south, trending lower throughout the day. It was enough weakness to take this one through Target 1, where I booked 1/2 my gains for a 3.8% winner. I’ve adjusted my stop for remaining shares as we head into Monday, leaving a little room for it to fluctuate while waiting for more downside to carry this one toward Target 2. So far, so good.
Closed Positions:
UHS trended steadily lower throughout Friday’s session, ultimately hitting my raised stop loss at $41.70 to take me out of the trade for a modest 1.5% loss. This stock had been holding up rather well, and given the new recent highs it had been making, I felt the tightened stop was prudent. Nonetheless, it’s difficult to hold long positions in such a weak market, so I’m out with a small loss and will await a new pattern before considering another entry.
