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.

BBT added

Open Position Notes:

LZ rallied big early in the session today, but ultimately retraced the bulk of it in the afternoon.  That gave today’s intraday chart a big rainbow-like appearance, which suggests the stock again met resistance and faltered.  I’m encouraged by this price action, but would like to see some downside follow through now that we’ve seen a trigger, a decline, and what may have been a failed bounce with today’s action.  I’m sticking with my existing trade parameters heading into Tuesday.

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.

EAT removed, LZ triggered, IVN removed (pattern failure – no trigger)

Open Position Notes:

LZ triggered a short entry on Thursday as it broke $107, but it wasn’t until Friday that it started making some headway.  This one appears to be in the process of carving out a lower high on the daily chart after a weak bounce to fill most of a gap from a few weeks ago, and I’m watching for follow through in the coming days.

Closed Positions:

EAT stopped me out on Thursday as the stock rallied in the face of a declining market – something I didn’t expect given the technical condition of the stock.  Nonetheless, I stuck with my stop to close out this trade for a 3.2% loss, opting to respect the action in the stock rather than try to fight it.  The stock came right back down on Friday, but at this point isn’t acting like it wants to break down hard, so I’ll leave it alone for now.

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.

IVN added

Open Position Notes:

EAT churned for most of the day today before an afternoon lift took it into positive territory by about 1% on the session.  This stock remains near my entry, and at this point I’m just being patient with the trade.  Short sided plays have required a bit more patience in this market with all the widespread strength out there, so I’ll leave my stop as-is for now and look to make some kind of adjustment once the price action warrants it.

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.

RRC  closed (Targets Exceeded)

Open Position Notes:

EAT sold off right after the open this morning, and while the stock did stabilize for the final few hours of the day, it finished just a few cents off its lows of the day.  I continue to be encouraged by the price action in this trade, and I like the progress it’s starting to make.  I’m expecting to see some follow through toward Target 1, which would coincide with a test of the October low.  Perhaps that will take place in the coming days.  Today’s move helps to further solidify the appearance of a lower high on the daily chart, which is nice to see as this stock resumes its correction.

Closed Positions:

RRC moved higher through resistance on Monday, and I noted last night how I liked the action for a number of reasons.  I didn’t see today’s move coming, however, as the stock gapped higher this morning to open beyond Target 2.  I booked the winner for a fast $3.65 – a 9.2% gain.  The stock did move a bit higher off the open but then backed off into the afternoon, so I’m pleased with the exit.  The idea is to keep capital rotating from one play to the next, and once the move is caught to ring the register and move on.  This one allowed me to do that quickly, which is always fun!

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.

AA & DRIV stopped, EAT triggered, RRC triggered & stop raised

Open Position Notes:

EAT triggered a short entry today as it finally broke the rising trend line I’ve been watching for the past several days.  Today’s move helps to further carve out the lower-high scenario on the chart, which is encouraging to see.  This one did finish near the trigger, so I’m going to be patient with it to see if it can get going better, but the stock does now look technically poised for lower prices going forward.

RRC triggered a buy today as it cleared resistance at $39.60, and the stock never looked back.  Today’s move brought several characteristics I always like to see, such as a strong intraday trend, a finish near the highs, and an expansion in volume.  This stock looks poised for follow through, and given the solid start to the trade, I’ve adjusted my stop tonight in order to reduce my risk.  If it can reach Target 1, I’ll look to make another adjustment to my stop.  So far, so good…let’s see if some follow through comes along.

Closed Positions:

AA was getting close to Target 2 after last week’s big rally, so I tightened my stop for remaining shares (after booking 1/2 at Target 1) in order to reduce my risk and lock in solid gains if the stock happened to pull back.  Today I was stopped out on remaining shares for a 5.7% gain, moving me back to the sidelines for this stock.  It’s in a good uptrend, so I’ll keep an eye on it in case it sets up for another entry.

DRIV hesitated to move higher after triggering an entry last week, elevating my concern a bit for the trade given all the strength in the overall market.  My stop was moved over the weekend to just beneath breakeven, and I was taken out this morning for a $0.29 loss (0.78%) as the stock pulled back.  It did rally back to finish positive on the session, leaving me to feel somewhat shaken-out, but the trend is still up and if another setup for entry presents itself, I’ll consider another play.