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.
No changes
Open Position Notes:
MOS held up well last week, particularly on Thursday and Friday in the face of market weakness. The breakout has held for a couple of days, and this one still looks good to me. Friday’s bar was an inside day, and often times that ends up being a continuation bar. Given the fact this one just broke out, I’m watching for follow through this week. My stop will remain unchanged heading into Monday, as I’d like to see some further progress before looking to make any adjustments. So far, pretty good action. Follow through needs to arrive next.
Closed Positions:
No closed positions.
Jeff,
Thanks for the continued great posts and finding the setups for us. I understand there is no 100 % probability that the trade will work out; however, is it possible to rank your day and swing trades by which one you feel more confident in? (Best chart pattern, gut feeling, experience?). Or all they all equal or you wouldnt of recommended them?
-Peter
Hello Peter!
I appreciate your nice comments. And this is a good question as well. I’ve been asked this in the past, and the fact is that I never know which trades are going to take off and which ones will be sluggish or prone to failure. So while it would be nice to have a stronger feeling about some setups, the truth is that I personally allocate equal risk across my trades because I just don’t know which will work best.
The only difference I’m really confident in between one setup and another is the timeframe I’m taking the trade for. The larger, more mature or established patterns tend to become swing trades for me, while the smaller, momentum-type setups which may be more stretched will be the day trade ideas. There is a little more to it than that, as upcoming news will prevent me from holding a stock overnight, or if a stock has bigger resistance just a short distance away on the chart I will usually day trade that one as well, but these things only impact my timeframe and not my confidence in the trades.
Hope this helps, and if I can help with anything else or further clarify on this, just let me know!