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.

WLP closed

Open Position Notes:

No open positions.

Closed Positions:

WLP gapped lower Friday morning, along with the market, moving it deeper into profitable territory for me as a swing trade on the short side.  But with the market reversing from key support areas, I recognized the need to book my profits, as per Thursday night’s mention here.  The stock also stopped shy of breaking the May 6th low.  Rather than staying short in an oversold and bouncing market, I chose to ring the register for a 4.5% winner, and am now in cash heading into the new week.  If this stock sets up another pattern, I’ll trade it again, but for now it appears to have found some support and I’m not interested in being short.

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:

WLP showed some initial hesitation yesterday to break down, but today it moved decisively lower with a big expansion in volume.  This confirms the bearish rising wedge pattern, and I’m now on the lookout for follow through.  I’m going to leave my stop loss as-is, because the market is getting rather oversold here and I want to allow some room for a bounce if it should happen early on Friday.  If on the other hand we see early weakness, I may move to exit this position, so watch your email inbox for an alert (I will also post any exit on Twitter).  Just wanting to stay flexible in this market which is getting to the point where a relief bounce could come at any time.  Nice action here today though.

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.


WLP triggered, EGO removed (no trigger, pattern negated)

Open Position Notes:

WLP triggered a short sale today right at the open as it moved through the lower end of the rising wedge pattern on the daily chart at $52.80.  The initial downside was limited, however, and the stock bounced into positive territory by the end of the session.  While I don’t like the headfake-type action on my entry day, I am willing to stick with this one for now, so my stop hasn’t been altered heading into tomorrow.

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.


LLL, EL, UNT closed, EGO & WLP added

Open Position Notes:

No open positions.

Closed Positions:

LLL moved higher off the open today, but along with the market reversal, it slid steadily lower into the afternoon.  With the closing bell approaching though, the market had started to stabilize, so I moved to exit this position and book the 1.5% winner in an effort to reduce short exposure into the market weakness of the past few days.

EL was also off to a strong start this morning, but made a decisive move lower with a steady trend into the afternoon.  As yesterday’s lows were approached, the stock began to stabilize (along with the market), so I closed the position for a 4.1% winner.  It may still continue lower, but with the market having sold off, the odds for a bounce are increasing and I’m trying to stick and move in this tape.

UNT moved higher this morning, but ultimately gave it all back and moved into negative territory with the market reversal.  This stock had approached yesterday’s lows, and with the broad market starting to stabilize, I felt it was best to book the 5.2% winner and eliminate my short-sided exposure into weakness.

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:

LLL was heading nicely lower today, but the market rebound took this one with it.  It only finished positive by 6 cents, which sure isn’t much, and volume stayed below average.  That may point to merely a bounce at this point, but at this point it’s too early to tell.  I’m sticking with my existing trade parameters for now until further clarity comes along in the chart, as that should allow this one some freedom of movement if needed.

EL was heading lower today until the afternoon bounce took it positive on the day.  However, volume was below average with today’s bounce, and that may suggest merely a bounce here.  I’m leaving this one plenty of room to fluctuate for now while waiting for some follow through, so my stop will remain as-is heading into Tuesday.

UNT continued nicely lower today with another above-average volume session as prices declined.  This one got pretty close to my Target, but bounced before moving through that level.  Nonetheless, I do like the fact this one finished weak in the face of a market which recovered, so let’s see if it can hit the Target in the next day or two.  If not, I’ll probably look to make an adjustment.

Closed Positions:

No closed positions.