TheStockBandit.com

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.

MET stopped, ANR & CCL added

Open Position Notes:

MDR gained a little ground on Friday, despite spending the session confined to a narrow range.  Thursday’s highs and lows were respected, marking an inside bar on the daily chart for Friday.  These often prove to be continuation bars, and with this stock still acting well technically, I’m encouraged by that.  I’m going to leave this one some room to fluctuate in case it needs it, so I’ve yet to make an adjustment to my stop.

SM powered past the breakout zone again at $75 on Friday, and this time it stuck.  The stock showed some excellent intraday momentum as it pushed to new 52-week highs, and even though it finished off its best levels of the day it was still an impressive advance with volume confirming the move.  I’m planning to wait for further progress before making any stop adjustments, so as to give this one some room to fluctuate in the meantime.

Closed Positions:

MET bounced past the prior week’s high on Thursday, but backed away, suggesting it had successfully tested resistance.  However, on Friday the early market strength carried this one higher, pushing it through my stop to take me out of the trade with a minor 1.7% loss.  Although it did pull back slightly later in the day from its best levels, it had still taken out resistance and therefore I had no technical reason to stay with the trade.  I’m out for now and will wait for a new pattern to emerge before considering another entry.

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.

SM triggered

Open Position Notes:

MET bounced just enough to briefly clear last week’s bounce high, and then backed off to finish negative on the session.  I’m encouraged by that kind of action, as it would have triggered some buy stops and then trapped those buyers with the pullback which happened later in the day.  This one is sitting right near my entry, so it still needs to prove itself, but I like today’s successful test of resistance, so that’s a start.

MDR continued higher for a little while today, but ultimately drifted back to last night’s closing price to finish flat on the day.  I’m going to stay with my existing stop loss on this trade and give it a bit more time before considering an adjustment.

SM triggered a buy today as it hit the $75 level, but the volume wasn’t enough to push it over the hump and it subsequently pulled back into the base to finish unchanged on the day.  I’ve got a stop in place beneath Wednesday’s low, so I’m going to leave it as-is and see how this one acts if and when it’s able to make another attempt at a breakout.

Closed Positions:

No closed positions.

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.

MDR triggered, RCL stopped, SM added

Open Position Notes:

MET bounced today alongside the strong market, although it held beneath last week’s bounce highs and today’s volume was very light.  Additionally, it finished off its highs of the session, which showed little conviction on the part of buyers.  This one may still rally further and stop me out, but for now I’m sticking with it and keeping my original stop in place.

MDR triggered a buy today as it cleared the trend line at $25.10.  Price finished above that level with some afternoon strength, although volume could have been more impressive.  I’m going to stick with this one for now, as I still like the setup and perhaps greater participation (volume) will arrive in the coming days.

Closed Positions:

RCL rallied today to hit my stop loss, taking me out of the trade with a 3.7% loss.  To see key support get broken and then defended is disappointing, as this stock has been grinding its way lower for many weeks and the technical breach appeared likely to invite some more intense selling.  Nonetheless, I won’t fight it but will keep it on the radar in case it returns to key support.

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.

RCL & MET triggered, MDR added

Open Position Notes:

RCL triggered a short entry today as it undercut key support at $40.40, but the weakness didn’t last long and this one reversed higher with the broad market.  It finished positive on the day, but volume remained light.  My stop is still in place, and I’m leaving it as-is heading into tomorrow, as today support was initially defended but I’d like to see how it acts if/when another test occurs.

MET triggered a short entry today as it gapped slightly through my intended entry (opening at $44.58 vs. $44.70 trigger).  The stock worked its way lower from there, and despite some market strength, this one only rebounded partially later in the day.  I like that it finished lower than the open, and will be watching for follow through in the coming days.  Today’s relative weakness is encouraging, but today’s only the start of this trade so I’ll wait and see what happens.

Closed Positions:

No closed positions.

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.

RCL & MET added

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

No closed positions.