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.

RDC added

Open Position Notes:

CMI turned lower this morning to nearly test my stop loss as it held just above that zone before turning higher.  This one went back positive in the afternoon, which is very encouraging, as it showed some solid relative strength in the face of a negative market.  I’d still like to see this one get back to making new highs on the daily chart, so I’ll be watching for follow through in the coming days.  It’s still in the base for now, which isn’t a big concern yet, although I’d like to see it get moving out of this congestion zone sooner than later.

BAX headed solidly higher today as it tacked on more than 2% in the face of a declining market.  This not only showed good relative strength, but it also puts price farther away from the resistance zone it just cleared.  I’ll be watching for a push toward Target 1 in the next couple of days, but for now will leave my stop as-is while waiting for more follow through.

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.

SOHU closed, CMI & BAX triggered, ARUN added

Open Position Notes:

CMI triggered a buy this morning as it pushed past $82.40, but the stock was unable to reclaim that level for the rest of the day.  It backed off slightly, finishing essentially flat on the session, still inside its recent consolidation zone.  I’m going to stick with this one given the light volume in the stock today, and will reassess if and when it can push back through resistance.  Today’s early move had the look of a head fake, but I’m going to give it more time to find out.

BAX triggered a buy today as it moved through $45.35, although the stock never gained momentum and instead finished right at that level.  This is one I’m expecting to be a slower mover, so I’ll be patient with it for now while I wait to see if it can show some upside follow through.  I like that it’s trying to push through resistance here, but the buyers will need to get behind it to propel it higher.  Today’s light volume shows there’s plenty of room for higher participation, so let’s see if that arrives in the coming days.

Closed Positions:

SOHU powered higher this morning, ripping through Target 1 at $50.40 where I booked 1/2 my gains for a quick 4.7%.  Soon after, it pushed through Target 2, where I closed the remainder of my position for a very nice 7.2% gain.  The stock then backed off the morning highs, suggesting it has become a bit extended after this quick ramp higher.  I’m out with a solid but fast 6% winner, and will wait for a new pattern to emerge before looking to re-enter.

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.

DRI stopped, CMI & BAX added

Open Position Notes:

SOHU showed very nice relative strength on Friday as it held positive in the face of a declining market.  This one continues to act well since moving up and out of its tight consolidation pattern on strong volume, and I’m watching for continued follow through toward my Targets.  A little extension from here would do the trick, so let’s see what happens.

Closed Positions:

DRI gapped down on Friday and continued lower, hitting my already-tightened stop to take me out for a modest 2.1% loss.  I was concerned after the hesitation this one showed when it triggered an entry, so I adjusted my stop on it very quickly.  That proved to be a good move and a way to reduce risk in a trade which wasn’t behaving as expected.  I’ll keep this one on the radar in case it shapes up, but for now I’m out with a small loss.

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.

MOS Target 2 hit (position closed), SOHU triggered, NEM removed (no trigger, pattern negated)

Open Position Notes:

DRI gapped down this morning and continued lower before turning back up to fill most of the gap by the closing bell.  It finished just slightly negative on the day, and continues to hold up.  Nonetheless, it still hasn’t shown the follow through I’m looking for since it triggered.  I’ve already adjusted my stop loss to reduce risk in the trade, and that level was validated today as price came nearly down to it, so I’m going to stick with that level for now while waiting for strength to return.  All in all, this pullback has been minor and volume has been quiet on the dip, I’m just doing my best to be patient while I wait for confirmation of a turn higher.

SOHU triggered a buy this morning, and initially it showed some hesitation.  However, the afternoon brought with it plenty of strength for this stock, and it finished nicely higher on strong volume while the overall market sagged.  Today’s relative strength is encouraging, so I’m on the lookout for follow through in the days ahead.  My stop is already rather tight, so I’ll leave it as-is until I see further strength in this stock.  Decent start today though with the overall market not helping at all.

Closed Positions:

MOS powered higher this morning with excellent early strength, taking it right up through Target 2.  In fact, the stock only moved $0.10 past that level before it pulled back in the afternoon, which really makes this a sweet trade.  I closed the remainder of my position into the $52.30 level, booking a very nice 10.8% gain in just 6 sessions.  The stock is becoming extended here, so I’m going to stand aside and wait for a new pattern to emerge before looking to re-enter.

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.

MOS Target 1 hit & stop tightened, DRI triggered & stop raised, SOHU added

Open Position Notes:

MOS trended steadily higher throughout today’s session, taking out Target 1 where I closed 1/2 my position for a 5.9% gain.  I’ve tightened my stop for remaining shares as well, but am thus far pleased with how this one is acting.  It’s gotten into a recent habit of posting solid advances followed by quiet, inside days, and there’s nothing wrong with that.  It prevents the stock from becoming too extended, while continuing higher.  I’m looking for follow through with a push toward Target 2 in the days to come.  So far, so good.

DRI triggered a buy today as it cleared a small descending trend line, but despite some positive market action, this one didn’t continue to climb.  This one may simply need a little more time, so I’ll stay with it, but I would have expected better action than I saw today so I’ve tightened my stop in order to reduce my risk in the trade.  That may prove overly cautious, but this one simply hasn’t proven itself yet on a day when it could have just as easily posted a solid advance.

Closed Positions:

No closed positions.