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.
CMI stopped, ARUN & RDC removed (patterns negated), BAX stop tightened
Open Position Notes:
BAX gave up some ground today, but successfully tested its breakout zone with a finish back above that level. This stock showed some relative strength to the market today, losing about 1/2 of what the market lost. That’s encouraging on such an ugly day, but I’ve still tightened my stop for this one slightly tonight in order to further reduce my risk.
Closed Positions:
CMI gapped lower this morning to take me out of the trade right at the open. The stock actually gapped slightly through my stop loss, handing me a 3.8% loss. Getting stopped out on a gap like that is a little annoying, but the stock did continue lower so I’m glad to have stopped the bleeding. The hesitant breakout and quick return to the consolidation zone proved to be a warning signal, so this one apparently isn’t ready to go yet. I’ll leave it alone until a well-defined pattern emerges and price looks set to go.
