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 triggered
Open Position Notes:
APKT made a multi-day high this morning, only to reverse into negative territory where it stayed for the remainder of the day. The stock tested multi-day lows and held, but stubbornly sat in the red while the NAZ continued to grind its way higher. Today’s action in the stock sends some mixed signals in that I would have expected to see this stock rally with the market today, and yet it didn’t break down when given the chance to. I’m going to stay with my existing parameters heading into Wednesday’s session, paying particular attention to the range of the past 5 sessions.
RCII triggered a short sale today as it broke the lower rising channel line to begin a new leg lower. The stock finished off its worst levels of the day, but still below the trend line, which is most important to me. Volume also picked up with today’s selling, indicating some urgency by some folks to exit on this technical breakdown. I’m going to leave my trade parameters as-is for tomorrow while waiting to see if this one can show some follow through and head toward Target 1.
Closed Positions:
No closed positions.
