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.
VMW & LLL added, BAX stopped
Open Position Notes:
No open positions.
Closed Positions:
BAX was a stock which I expected to be a slow mover, but I have been surprised in recent days just how slow it could be. After breaking out and showing nice relative strength to the overall market during last week’s pullback, this week the stock has done nothing but stagnate. I had tightened my stop twice in order to reduce risk in the trade, just in case the lack of upside follow through was an indication of a lack of strength. It’s a fine line to walk between being patient with a trade vs. recognizing that it simply isn’t going anywhere. Ultimately, this one proved it wasn’t ready to run, and I was taken out this morning on weakness for a very modest 1% loss. I’ll give it more time before looking for another entry, as right now the stock simply looks range-bound in the near term.
Jeff….only a comment that the Risk Reward on these two shorts seems pretty high. though the percentage loss is more or less OK. Granted that the charts are what guides. If it wasn’t Options Expiration tomorrow, I would look at options for these figuring on a 5 day hold period.
Hi Jon!
I can’t disagree, and the risk/reward is narrower than I usually prefer, but in this case what I’m expecting to see (if they trigger) is an acceleration move downward. If that happens, I plan to adjust stops relatively quickly.
Thanks for your comments as always, and go get ’em on Friday!