Hit List 7-25-2011

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, PPO, CROX & CAM closed – back to cash

Open Position Notes:

No open positions – 100% cash

Closed Positions:

MPEL jumped past Friday’s late resistance right off the bat this morning, but couldn’t hold it and subsequently saw some profit-taking kick in.  The stock hit my raised stop for a 9.5% gain on the 2nd half of my trade (after booking partial profits at Target 1 last week).  This gave me a net position gain of 8.8% (average of my 2 exits), which was a nice quick run.  This one is now acting a bit tired, so I’ll stand aside and see if it can set up again.

CROX continued higher this morning to hit Target 2 at $29 for a 9% gain on the 2nd half of the trade.  I had already booked partial profits at Target 1 last week, giving me a net position gain of 7.1%.  I’m now out of this one ahead of earnings which are due out this week, and am very pleased with how this trade worked out – exactly according to plan.

PPO has struggled to gain any traction so I raised my stop aggressively, and today that was hit at the open as the stock gapped lower before a reversal back up.  That handed me a very modest 0.7% loss, and I’m out of the stock ahead of its earnings announcement.  This one still has a shot at continuing higher, but I won’t gamble on earnings and therefore will leave it alone for now.

CAM has been moving quietly higher since triggering an entry last week, despite having earnings scheduled for this week (premarket Thursday).  I had raised my stop aggressively over the weekend, and today was stopped out at the open for a 2.9% gain.  That’s not bad considering this one only had a short amount of time to work.  I’ll keep an eye on this one and after the scheduled news passes I may look to revisit a play in this one since it looks to be starting a new uptrend.