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.
LLL & ZMH stopped
Open Position Notes:
INTU showed some nice strength today alongside the market, and I was most encouraged by the fact that it made a multi-day high to start clearing the consolidation area of the past week. I’ll be on the lookout for a push to Target 1 in the days to come, but after a couple tests of support in recent sessions, it’s nice to see this one moving higher.
Closed Positions:
LLL turned higher today to hit my tightened stop, taking me out of my remaining shares. My net on this trade was 3.2% gain, which is fair for a slower mover like this one. I feel good about how the trade was managed, and it’s nice to walk away with a solid gain after a sharp turnaround like we saw today. I’ll now stand aside from this stock and wait for a new pattern to set up before considering another entry.
ZMH gapped higher this morning and continued to advance, taking me out of this short sale for a modest 1.9% loss. While the loss is disappointing, particularly given the weak finish in the stock today, I don’t want to be caught short in a market which may be pivoting higher. So, I’m out for now and will wait for a new pattern to emerge before taking another look at this one.
