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.
ZMH added
Open Position Notes:
LLL attempted to bounce in recent days, but it was doing so in a weak fashion with limited upside and poor volume to accompany it. That’s just what I wanted to see, as it helped the stock consolidate for another move down without stopping me out on my remaining shares (1/2 position). Today it turned lower with steady selling and increasing volume, and I’m now watching for follow through once again toward Target 2. So far, so good. I’ll look to make another stop adjustment soon if it continues lower from here.
INTU pulled back today within its consolidation area with the market weakness. Two things are encouraging here, which are the fact that today’s dip came on incredibly light downside volume, and the fact that short-term support is still holding. I’m doing my best to stay patient with this one, as if the market stabilizes, I do expect this stock to regain momentum quickly. If not, my stop is defined and I’ll abide by it.
Closed Positions:
No closed positions.
