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.
MPEL & CAM stops tightened
Open Position Notes:
MPEL tested the waters on the upside this morning, went negative, then recovered to post a minor gain by the end of the session. I continue to like how this one is acting right now, and am looking for a push toward Target 1 before the week is over. I’ve tightened my stop tonight to breakeven just in case, as this one is doing well and I won’t let it evolve into a loss at this point.
CROX spent nearly all day in positive territory, tacking on almost 1%. I’m encouraged by this follow through, particularly on a day when the overall market rested. Target 1 is coming into view, and I’d like to see a push toward that area before the week is over. Volume also improved again today, which is also positive. A little more progress and I may look to adjust my stop.
PPO pulled back today to test the breakout area, finishing just a slight amount beneath that zone by the closing bell. The positive was that volume was very light on the pullback, so I’m not reading a lot into today’s action. I would like to see some follow through going forward though, so let’s see what happens.
CAM pulled back today to test the breakout zone, and was able to hold it on a closing basis. Volume was down from yesterday’s advance, which is encouraging to see on a minor pullback. I’d now like to see some upside follow through to really confirm this breakout and test sequence. With earnings approaching next week, I’ve gone ahead and raised my stop tonight and will be using Monday’s low (ahead of yesterday’s opening gap) area as my stop.
Closed Positions:
No closed positions.
