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.

NEM Target 2 hit, GDX stop tightened, MOS added

Open Position Notes:

GDX moved slightly lower this morning, just enough to hit Target 1 where I booked 1/2 profits for a quick 4% gain.  This ETF did rebound from there, finishing positive on the day.  This trade has been acting well, and I’m going to stick with it for now, but I have tightened my stop again for remaining shares tonight.  That way, if it rebounds, I’ll ring the register for a solid net winner, and if it sells off again, I’ll watch for a move to Target 2.

Closed Positions:

NEM hit Target 1 on Tuesday, so overnight I only had a 1/2 position.  I realized this morning that earnings were reported before the bell, which was a complete accident.  I look at a handful of earnings calendars, and apparently the one I looked at for this stock was mistaken on the reporting date.  So, I never intended to hold this position into that major news.  Nonetheless, it worked out favorably (read: “lucky”), and Target 2 was hit today where I closed out the remainder of my position for a nice 7.3% winner.  I’m now out of the trade, and will wait for a new pattern to set up before looking for 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.

NEM Target 1 hit, NEM & GDX stops tightened, STP closed

Open Position Notes:

GDX headed lower today after breaking the rising trend line yesterday, showing some nice relative weakness to the market.  This one got within 2 cents of Target 1, but stabilized just above that level.  I would expect to see that level get taken out very soon, so I’m watching for continuation now that a lower low is in place.  Good action so far, and I’ve adjusted my stop loss to reduce my risk in the position while I wait for follow through.  If this one happens to show some good weakness tomorrow, I may even close it out entirely due to the sharp nature of this move and the tendency of sharp moves to invite reversals.  Therefore, keep an eye on the Twitter stream or your email inbox for a possible alert related to this trade.

NEM continued lower in a nice fashion today as it saw heavy selling pressure.  It moved down through Target 1, where I closed 1/2 profits for a quick 3.9% gain.  Target 2 came close, but the stock held above it for now.  I’ve adjusted my stop for remaining shares tonight while I wait for Target 2 to be reached, but so far, so good for this trade.  If this one happens to show some good weakness tomorrow, I may even close it out entirely due to the sharp nature of this move and the tendency of sharp moves to invite reversals.  Therefore, keep an eye on the Twitter stream or your email inbox for a possible alert related to this trade.

Closed Positions:

STP tried to turn higher out of a very bullish base, but ultimately just couldn’t get it done.  The stock had held up very well in the face of the last market dip, but when the indexes turned back up, this one did not.  A few attempts at a rally were thwarted, and despite my patience, I finally had seen enough.  So today I sent out an intraday alert via email & Twitter that I was closing the position near breakeven ($0.01 gain) at $10.96, and shortly afterward the stock headed south.  When a setup simply isn’t playing out and has been given more than adequate time to do so, an exit near breakeven is the next-best scenario.  I took that today and will stand aside from this stock until it starts exhibiting better strength.

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.

GDX & NEM triggered

Open Position Notes:

STP stagnated again today despite the market strength, and that’s disappointing to see.  This stock had held up extremely well in the face of the last market pullback, and now that the market is running up, this stock is ignoring it.  The pattern remains bullish for now, but the longer it sits here without moving, the more it becomes a trading range rather than a flag or pennant pattern.  The $11.20 level is posing as short-term resistance, and it wouldn’t take much to get this stock moving if it can clear that level.  I’m sticking with it for now, but will look to make an adjustment soon if it proves unable to move.

GDX triggered a short sale today as it broke its rising trend line, and although it ended the day just a few cents above my trigger price, I still like today’s action.  This ETF showed good relative weakness, and the trend line rises daily, so even if price stagnates for a short time here the chart is still short-term bearish.  I’m sticking with my existing trade parameters for this one for now, and will watch for follow through in the coming days.

NEM triggered a short sale today as it undercut its rising trend line at $58.70, and I was pleased with the initial action in this one.  The stock headed steadily lower before stabilizing just slightly in the afternoon, still finishing well in the red and solidly beneath the trend line.  I’m going to hold off on making any stop adjustments just yet, but will be watching for follow through in the next couple days now that this one looks to be confirming a lower high.

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.

NTES closed, GDX & NEM added

Open Position Notes:

STP started turning higher on Thursday and Friday after testing support, and this one still looks like it has plenty of room to run.  We have yet to see good upside momentum, but I’m staying patient with this one because the pattern is so encouraging.  For now, it’s in the green, so I’m going to stick with it and watch for follow through in the days ahead.  If it continues to struggle, I’ll begin making adjustments to my stop loss.

Closed Positions:

NTES hit Target 1 on Thursday last week and was very close to reaching Target 2 heading into Friday, so I aggressively raised my stop loss for remaining shares (1/2 position) in case the stock happened to weaken.  On Friday morning, my stop was triggered on the open to take me out of the 2nd half of the trade at $36.39 for a 6.4% winner.  This one required some patience, and it paid off, but now the stock is encountering some technical resistance so I’ll stand aside until a new pattern emerges.

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.

NTES Target 1 hit & stop raised

Open Position Notes:

NTES has held up well in recent days when the market pulled back, and I’ve been very patient with it as a result.  Today that patience paid off as the stock caught a big bid and sprinted higher.  It pushed through Target 1 where I closed 1/2 my position for 5.8% gain, and now stands just a short distance from Target 2.  I’ve tightened my stop aggressively tonight for remaining shares for that very reason, and will likely see an exit made tomorrow one way or the other.  It’s been a good trade which was worth waiting on, and that should serve me well the next time I get a trigger and am tempted to get bored out of the trade.

STP threatened to stop out yesterday as it finished just a few cents from that level, and thank goodness it didn’t!  Today the stock jumped higher by over 4.5% to get back in the green.  I’m still waiting for price to really leave this consolidation area behind, as this is a very bullish pattern.  It’s requiring that I be patient for now, and on the heels of today’s move in NTES, I’m willing to stay with it a little longer.  Hopefully it can get back on the move tomorrow and head into the weekend with some momentum.

Closed Positions:

No closed positions.