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.
PPO & CAM triggered
Open Position Notes:
MPEL jumped higher at the open this morning, then gained some additional ground before settling into a high range for the rest of the day. This is very constructive price action as the stock hits new highs, and I like how it’s basing to attempt to digest the rally. Target 1 is coming into view, and I’ll be looking for additional follow through going forward after this breakout. I’m going to give this one another day with some room to fluctuate before making any adjustments to my stop.
CROX was hesitating to move higher yesterday after attempting to break out, but today the stock woke up with some pep in its step and trended higher throughout the session. This one is now making multi-day highs, and I particularly liked how volume picked up substantially over yesterday’s levels. I’m now watching for follow through toward the targets.
PPO triggered a buy this morning as it turned back up to clear the descending trend line. It made some nice progress on the day, and appears to be starting a new leg up within its trend. Follow through will now be the key, and ideally on some stronger volume (above average). Nice start.
CAM triggered a buy today as it left its bull flag pattern with an upside breakout. Volume was higher than at any time in the past couple of weeks, which is nice to see accompanying a surge in price. The stock also finished strong to go out right at its highs of the day, so we’ll see if that carries over into tomorrow. I also liked the dip which was bought mid-day, as that indicates to me (along with the improved volume) that the stock is gaining interest on the part of buyers.
Closed Positions:
No closed positions.
