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 gapped lower this morning in the face of a very strong market, thanks to a preliminary injunction from a U.S. District Court. Goldman Sachs noted it as a “clear negative,” leaving the stock weak on the open. It was able to hold above my stop loss, however, and soon after caught a bid and filled the entire gap. The stock strengthened as the day progressed, moving well into positive territory by the end of the day. This wasn’t quite what I had in mind when I referred to Friday’s inside day often becoming a continuation bar, but nonetheless, that’s what happened. Today’s bullish engulfing bar came on big volume, and that’s technically very positive to see. Target 1 is right around the corner, and Target 2 could be reached as soon as this week, so I’ll be looking for follow through in the days ahead as the stock pushes toward those levels.
Closed Positions:
No closed positions.
