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.
AGP stopped, SLW triggered
Open Position Notes:
NTES turned lower today with a sharp downside move right off the open. The stock was able to stabilize from there, however, leaving it above my stop loss level for now. Today’s move may have been of the shake-out variety, so with my stop not far away, I’m going to stick with my existing trade parameters to see if this one can reclaim the resistance level it cleared on Tuesday. For the moment it appears to be a failure, and if so, that’s what my stop is there for.
SLW triggered a short sale today as it undercut the lower trend line of its wedge pattern at $19.10. The market held up pretty well though, and that may have prevented this one from showing more weakness. It finished flat on the day, just a short distance from my trigger, so I’m going to stick with my existing parameters for this trade until I see some more movement occur.
Closed Positions:
AGP surged higher today to reclaim former support, stopping me out for a 3.1% loss. Today’s move up was a decisive one, and it negates the bearish pattern I had been playing, so I’m out for now and will wait for a new pattern to emerge before considering another entry.
