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.
100% Cash
Open Position Notes:
No open positions.
Closed Positions:
INTU opened higher on Friday along with the overall market, but after some initial strength began to fade. For a stock which was showing such great momentum in August, I had been expecting this one to recapture some of that momentum if the market could strengthen. Well, we just saw an excellent 3-day market move, and this one lagged. So on Friday as strength was starting to get sold, I closed this position out at $44.10 for a $1.20 winner, or a 2.8% gain. That’s not bad, but it wasn’t what I had expected to see. Anytime a stock should be exhibiting stronger momentum and for some reason is not, it’s a sign to lighten up at the very least. And with the indexes having reached key resistance zones, I opted to close this one out and head into the long holiday weekend in cash.
