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.
NEM Target 2 hit, GDX stop tightened, MOS added
Open Position Notes:
GDX moved slightly lower this morning, just enough to hit Target 1 where I booked 1/2 profits for a quick 4% gain. This ETF did rebound from there, finishing positive on the day. This trade has been acting well, and I’m going to stick with it for now, but I have tightened my stop again for remaining shares tonight. That way, if it rebounds, I’ll ring the register for a solid net winner, and if it sells off again, I’ll watch for a move to Target 2.
Closed Positions:
NEM hit Target 1 on Tuesday, so overnight I only had a 1/2 position. I realized this morning that earnings were reported before the bell, which was a complete accident. I look at a handful of earnings calendars, and apparently the one I looked at for this stock was mistaken on the reporting date. So, I never intended to hold this position into that major news. Nonetheless, it worked out favorably (read: “lucky”), and Target 2 was hit today where I closed out the remainder of my position for a nice 7.3% winner. I’m now out of the trade, and will wait for a new pattern to set up before looking for another entry.
