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.

STP & JOE triggered, JOE stopped

Open Position Notes:

NTES held up rather well today despite the weakness in the market (and in tech stocks).  I’m staying patient with this one for now while waiting to see if strength returns.  For the time being, the stock is hovering just above the breakout zone, and that’s technically positive.

STP triggered a buy this morning by gapping slightly through my intended trigger price, and started to see some additional strength in the opening minutes.  Unfortunately, the stock reversed lower and finished just a few cents above my stop loss level and well under water.  This kind of a breakout failure is never encouraging, and I wouldn’t be surprised to see this one get checked out tomorrow as a result.  Nonetheless, I liked the setup and the risk/reward for the trade, and ultimately it’s my job as a trader to put money at risk when there are good reasons to do so.  Sometimes that results in a slap on the hand, and sometimes it pads my wallet.  Trade on.

Closed Positions:

JOE was out of the gate this morning with some strength, triggering an entry for me on the open.  That marked the high point of the day however, as the stock reversed lower to create a new short-term pullback low.  I was subsequently stopped out for quick and frustrating 4.9% loss, and will now stand aside until better strength emerges in this one.

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.

SLW closed, STP & JOE added

Open Position Notes:

NTES held in there very well this morning despite the market weakness, and turned higher mid-morning.  The stock accelerated its advance in the early afternoon, finishing back above resistance with an uptick in volume.  This one has tested short-term support and is now trying to emerge with a new leg up, so let’s see if this 2nd chance attempt at a rally will pay off.  I’ve been patient with it up until now, so with it turning higher here I’ll be looking for follow through in the coming days.

Closed Positions:

SLW wasn’t able to break yesterday’s low, and as a result, turned back up to hit my tightened stop loss.  I’m out of the trade with a 4.7% winner, which is acceptable given the lack of downside follow through in the market.  I’ll now stand aside and 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.

SLW Target 1 hit, stop tightened

Open Position Notes:

NTES pulled back this morning and nearly stopped me out, bottoming for the day just a few cents above my stop loss level and turning higher from there.  The stock was able to finish nicely higher by the end of the day, which is positive.  Today’s dip also validates my stop loss, so I’m going to stick with it for now and see if this one can gather some upside momentum.  If not, I may look to make an adjustment in the days to come.

SLW continued lower today to take out Target 1, where I closed out 1/2 my position for a solid 4.7% gain.  It then moved right toward Target 2, getting within just a few cents before bouncing back slightly.  I’ve tightened my stop for remaining shares tonight so that if the bounce continues, I won’t give back much.  Otherwise, I’ll be watching for a move to Target 2 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.

SLW stop tightened

Open Position Notes:

NTES finished lower last week after triggering a buy with a move up through resistance.  The breakout came on lackluster volume, leaving it vulnerable to failure, and then the market weakness arrived to keep it beneath that level.  This one is just a short distance from my stop loss, so I’m going to see if it can rally tomorrow and get back up to higher levels.  If not, I’ll stay with my stop loss and stand aside if I get taken out.

SLW rolled over nicely last week after breaking below the bearish rising wedge pattern it had built on the daily chart.  This one is moving toward Target 1, so my plan is to see if it can move through that level and then tighten my stop aggressively once that happens.  I’ve moved it to breakeven for now as a way to reduce risk in the trade, so let’s see what Monday brings.

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.

AGP stopped, SLW triggered

Open Position Notes:

NTES turned lower today with a sharp downside move right off the open.  The stock was able to stabilize from there, however, leaving it above my stop loss level for now.  Today’s move may have been of the shake-out variety, so with my stop not far away, I’m going to stick with my existing trade parameters to see if this one can reclaim the resistance level it cleared on Tuesday.  For the moment it appears to be a failure, and if so, that’s what my stop is there for.

SLW triggered a short sale today as it undercut the lower trend line of its wedge pattern at $19.10.  The market held up pretty well though, and that may have prevented this one from showing more weakness.  It finished flat on the day, just a short distance from my trigger, so I’m going to stick with my existing parameters for this trade until I see some more movement occur.

Closed Positions:

AGP surged higher today to reclaim former support, stopping me out for a 3.1% loss.  Today’s move up was a decisive one, and it negates the bearish pattern I had been playing, so I’m out for now and will wait for a new pattern to emerge before considering another entry.