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.
NTES Target 1 hit & stop raised
Open Position Notes:
NTES has held up well in recent days when the market pulled back, and I’ve been very patient with it as a result. Today that patience paid off as the stock caught a big bid and sprinted higher. It pushed through Target 1 where I closed 1/2 my position for 5.8% gain, and now stands just a short distance from Target 2. I’ve tightened my stop aggressively tonight for remaining shares for that very reason, and will likely see an exit made tomorrow one way or the other. It’s been a good trade which was worth waiting on, and that should serve me well the next time I get a trigger and am tempted to get bored out of the trade.
STP threatened to stop out yesterday as it finished just a few cents from that level, and thank goodness it didn’t! Today the stock jumped higher by over 4.5% to get back in the green. I’m still waiting for price to really leave this consolidation area behind, as this is a very bullish pattern. It’s requiring that I be patient for now, and on the heels of today’s move in NTES, I’m willing to stay with it a little longer. Hopefully it can get back on the move tomorrow and head into the weekend with some momentum.
Closed Positions:
No closed positions.
