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.

BWA & CNQ triggered, MGA removed (pattern failure), MTL added

Open Position Notes:

FISV gapped lower this morning and sold off well into negative territory, but hung in there nicely and recovered almost entirely by the end of the day, finishing down just 2 cents.  This is very positive price action, and I’ll be watching for some upside continuation in the days to come.  I like how the stock respected yesterday’s lows and the intraday recovery, indicating there are some dip-buyers present.

IPXL recovered quickly from a weak start to the day, turning higher by mid-morning and staying positive for the remainder of the day.  It also closed on its highs of the session, suggesting it’s ready to challenge last week’s highs.  Volume improved today from yesterday’s levels, but could still stand to increase on further strength in the stock.  Good price action so far, I’m going to leave my current stop as-is heading into tomorrow’s session.

BWA triggered a short sale today as it undercut support at $67.50.  However, the stock was able to reclaim that level by the close with the market lift which occurred this afternoon.  I’m going to stick with this trade for now and see how it acts in the days to come.  I still think it has the appearance of a stock that’s itching for lower prices, but support will need to be broken again for that to occur – let’s see what happens.

CNQ triggered a short entry right at the open today as it gapped through my intended trigger price by 3 cents (hence the $41.97 listing on the position grid below).  The stock exhibited some nice weakness today, giving it a somewhat decisive break below rising support for the time being.  And despite the market rebound this afternoon, this stock didn’t recover much, which I was encouraged by.  I’ll be watching for follow through in the coming days.

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.

FISV & IPXL triggered, MGA & CNQ added

Open Position Notes:

FISV triggered a buy today as it cleared the small trend line at $62.30.  From there, it never hesitated to move higher, and gained strength for several hours before backing off slightly in the final 90 minutes of trading.  This took the stock to new highs, which I’m encouraged by.  I would have preferred stronger volume on today’s breakout, but price is most important and it made a solid move higher today.  I’ll now be on watch for follow through in the days to come.

IPXL triggered a buy today as it turned back up and cleared Friday’s highs, signaling it’s ready to advance again after testing support (former resistance).  Volume could have been more impressive today, but I’m willing to stick with this trade for now and see if it can bring some follow through in the coming days, as I do still like the overall price action.

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.

FISV & IPXL & BWA added

Open Position Notes:

No open positions – 100% cash.

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.

RCII closed – 100% cash

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

RCII continued lower this morning as it gapped down, opening a few cents below Target 1 where I closed 1/2 my position for a nice 4.2% gain.  From there, the stock ticked only slightly lower before reversing back up, hitting my adjusted stop from last night to take me out of my remaining shares at breakeven.  So, I’m out of the position with a net gain of 2.1%.  It’s not impressive, but for a stock to have changed directions so sharply as this one did today, I’ll take it.  At this point I’ll wait for a new pattern to set up 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.

APKT stopped, OPEN removed (pattern negated, no trigger), RCII stop tightened

Open Position Notes:

RCII continued lower today as it undercut Tuesday’s low, getting within just 5 cents of Target 1 before bouncing slightly into the close.  This stock is acting weak, and I’m encouraged by the price action here.  I’m going to be looking for a move down through Target 1 tomorrow, and have adjusted my stop tonight to breakeven for this trade now that it’s getting underway.  That leaves it some room to bounce and/or fluctuate if need be for Thursday.

Closed Positions:

APKT made a quick attempt to head higher off the open this morning, but quickly turned lower and never looked back.  The stock undercut Tuesday’s low and then hit my stop to take me out for a 3.2% loss.  I’m glad to be out, as the stock has now technically broken down and continued to come under pressure for the remainder of the session, shedding nearly 7% on the day.  I’m out and will leave this one alone for a while due to today’s abrupt change of character.