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.
SLW closed, STP & JOE added
Open Position Notes:
NTES held in there very well this morning despite the market weakness, and turned higher mid-morning. The stock accelerated its advance in the early afternoon, finishing back above resistance with an uptick in volume. This one has tested short-term support and is now trying to emerge with a new leg up, so let’s see if this 2nd chance attempt at a rally will pay off. I’ve been patient with it up until now, so with it turning higher here I’ll be looking for follow through in the coming days.
Closed Positions:
SLW wasn’t able to break yesterday’s low, and as a result, turned back up to hit my tightened stop loss. I’m out of the trade with a 4.7% winner, which is acceptable given the lack of downside follow through in the market. I’ll now stand aside and wait for a new pattern to set up before looking for another entry.
