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.
PLCM triggered & stop tightened
Open Position Notes:
LLL declined further today on increased volume once again, working toward Target 1. This one has been a bit slow, but it has been steady, so I’m sticking with it for now. I’d like to see Target 1 get reached before looking to adjust my stop, so we’ll see if that happens on Wednesday. I’m comfortable giving this one some room to fluctuate, and will leave my trade parameters as-is for now.
PLCM gapped through my intended trigger price this morning at the open, so in accordance with my Swing Trading Strategy, I still took the trade but with a reduced position size of 1/2 (because it gapped 1-2%). This one did work its way off the lows of the session by the closing bell, finishing just slightly negative on the day. While that’s not the kind of price action I like to see, this is still a technical breakdown for the stock. I’ve tightened my stop tonight in case today’s break proves to be simply a headfake, but otherwise will wait to see if additional weakness sets in.
Closed Positions:
No closed positions.
