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.


BIG Target 1 hit & stop tightened, MTB stopped, MHP removed (pattern negated)

Open Position Notes:

BIG continued lower this morning to move through Target 1 where I booked 1/2 my profits for a quick 5% gain, and then it was able to rally back later in the session along with the market to finish positive on the day.  Being respectful of the market’s opportunity to bounce here, I’ve tightened my stop aggressively for remaining shares of this trade so as not to give much back should the market happen to rally.

Closed Positions:

MTB briefly undercut yesterday’s low this morning, but quickly turned around and rallied back up through my tightened stop.  So, I’m now out of this position for a 3.8% gain, and will wait for a new pattern to emerge before looking to enter again.  This isn’t a real fast mover, so to pull $3 out of it in just over a week was nice.

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.


BIG triggered & stop tightened, MTB stop tightened

Open Position Notes:

MTB continued lower today on increased volume after spending much of the morning in a trading range, breaking down in the afternoon to finish lower by $1.12.  This one has already reached Target 1 (where I closed 1/2 my position), and is now approaching Target 2.  As such, I have tightened my stop for remaining shares again tonight so I don’t give much back in this trade should it happen to reverse.  It’s been acting well, so let’s see if it can move through Target 2 tomorrow.

BIG triggered a short entry today as it broke support and moved through the $33.90 level.  So far this one is behaving quite well, as it finished right near its low of the session with an expansion in volume – indicating that plenty of traders are dumping shares.  The stock showed nice follow through to the downside once support was taken out, and it now appears headed for the targets.  I’ve adjusted my stop loss tonight to something more prudent, but otherwise am awaiting follow through and the opportunity to book some gains as this stock heads lower.

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.


UHS stopped, MTB Target 1 hit & stop tightened, BIG & MHP added

Open Position Notes:

MTB gapped lower on Friday and continued south, trending lower throughout the day.  It was enough weakness to take this one through Target 1, where I booked 1/2 my gains for a 3.8% winner.  I’ve adjusted my stop for remaining shares as we head into Monday, leaving a little room for it to fluctuate while waiting for more downside to carry this one toward Target 2.  So far, so good.

Closed Positions:

UHS trended steadily lower throughout Friday’s session, ultimately hitting my raised stop loss at $41.70 to take me out of the trade for a modest 1.5% loss.  This stock had been holding up rather well, and given the new recent highs it had been making, I felt the tightened stop was prudent.  Nonetheless, it’s difficult to hold long positions in such a weak market, so I’m out with a small loss and will await a new pattern before considering 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.


MCO stopped

Open Position Notes:

UHS marked a new intraday and closing high today for its current rally, both of which are very encouraging.  The only issues I have with today’s action are the lack of strong volume to accompany the advance, and the finish off the highs of the session.  This one has held up pretty well, but I’m still awaiting good upside follow through at this point.  I’ve raised my stop once already, and will maintain that same stop heading into Friday.

MTB tested the waters on the upside today again, but ultimately pulled back to finish negative on increased volume.  This stock is still slightly above the key $78.50 level from which I initiated this trade, but it’s flirting with it daily.  I’m willing to give this one a little more time to make up its mind, as right now it seems unable to commit to a direction.

Closed Positions:

MCO bounced early in the session today, just enough to take out my tightened stop for the 2nd half of this position.  I already booked solid gains on the first 1/2, but I’m now out of the trade due today’s early strength.  The stock did fade later in the day and could continue lower, but I’m out with a gain and will now 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.


No changes

Open Position Notes:

UHS posted a solid advance today along with the market, which was encouraging to see.  The daily chart is starting to reveal a larger high-level base, so it could be that a little more upside push and this one could really make a nice move.  For now, I’ve already adjusted my stop loss and am waiting for more follow through.  The technicals appear conducive to more strength, but the buyers will have to produce it (along with some stronger volume).

MCO rebounded today after yesterday’s breakdown, but it didn’t recover it all.  I’ve already taken 1/2 my profits in this trade, and have a stop loss at breakeven for remaining shares, so I’m trying to be patient with this one.  The stock remains in poor technical shape, so I’m willing to stick with my existing trade parameters heading into tomorrow.

MTB bounced right back up today to reclaim the $78.50 level.  Although today’s volume was weak, today’s bounce makes Tuesday’s breakdown look rather suspect.  My stop is already in place for this trade, so it has a little more room to bounce if needed.  Tomorrow could prove to be a pivotal day for this position, so let’s see what happens.

Closed Positions:

No closed positions.