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.
BIG triggered & stop tightened, MTB stop tightened
Open Position Notes:
MTB continued lower today on increased volume after spending much of the morning in a trading range, breaking down in the afternoon to finish lower by $1.12. This one has already reached Target 1 (where I closed 1/2 my position), and is now approaching Target 2. As such, I have tightened my stop for remaining shares again tonight so I don’t give much back in this trade should it happen to reverse. It’s been acting well, so let’s see if it can move through Target 2 tomorrow.
BIG triggered a short entry today as it broke support and moved through the $33.90 level. So far this one is behaving quite well, as it finished right near its low of the session with an expansion in volume – indicating that plenty of traders are dumping shares. The stock showed nice follow through to the downside once support was taken out, and it now appears headed for the targets. I’ve adjusted my stop loss tonight to something more prudent, but otherwise am awaiting follow through and the opportunity to book some gains as this stock heads lower.
Closed Positions:
No closed positions.
