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.

VSEA added

Open Position Notes:

FOSL began Friday with some nice relative strength as it made a new high for the week while the indexes began to sell off.  However, the broad weakness took its toll on this one, and it ended up sliding lower for the remainder of the session as it built a bearish engulfing bar on the daily chart with expanding volume.  This stock is still above recent support, so I’m willing to stay with it for now using my existing stop loss level, but this reversion back into the base suggests it may need more time to get moving.

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.

PAY stopped, QCOM removed (pattern negated)

Open Position Notes:

FOSL never strayed far from Wednesday’s closing price today as it sat within a narrow trading range with quiet volume.  This one is still lingering just a short distance from the breakout zone, so I’m staying with it for now while waiting to see if it will make another attempt at an advance.

Closed Positions:

PAY tried to break out yesterday but didn’t have the necessary volume to assist in the advance, finishing near its lows of the day.  That didn’t look particularly bearish, but it proved to be, as today the stock broke down hard on a big spike in volume, triggering my stop loss to take me out of the trade for a 3.2% loss.  Today’s move implies the stock now needs to base further and rebuild a new pattern, so I’ll avoid it until that occurs.

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.

FOSL, PAY triggered, RAX stopped

Open Position Notes:

FOSL triggered a buy as it crossed the descending trend line, indicating it was ready to begin moving higher.  However, volume was again well below average, and as I noted last night in the video, I was expecting to see volume ratchet higher if a breakout could occur.  That didn’t happen, and the stock was subsequently unable to continue showing strength.  For now it’s right back in the short-term consolidation area, so I’ll be watching it closely heading into tomorrow to see if the stock can make another attempt on the upside.

PAY triggered a buy today by clearing the trend line, and it made a nice initial surge higher.  However, the next dip was somewhat deep, and no upside follow through was seen.  The stock finished in the green on the day, but near its lows of the session and on light volume.  Here again, volume needs to accompany the move in price, so I’ll be interested to see if the stock can make another attempt at an advance tomorrow or if instead it needs additional rest in this area.

Closed Positions:

RAX dipped into negative territory again early today, but soon it bounced back and stabilized.  From there, the stock ramped higher with a huge surge from mid-morning to early afternoon, easily triggering my stop loss to take me out of this trade.  This stock has shown persistent weakness in recent days, so to see it suddenly explode higher the way it did today is surprising, but I’m not here to argue with the tape.  I’m out of this one for a 3.4% loss, and will wait for a new pattern to emerge 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.

FOSL, PAY added

Open Position Notes:

RAX spent the bulk of today’s session underwater, once again resisting the broad market strength to exhibit some relative weakness.  I am expecting this one to crack a little further if the overall market can put in some rest or a pullback, so I’m sticking with this trade as is for now.  I’m encouraged by the weakness it’s showing in the face of a very strong market, but want to see a more favorable move before I’ll look to make an adjustment to my stop.

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.

QCOM added

Open Position Notes:

RAX turned higher off the open today, indicating it was perhaps ready to rally further, but soon the momentum faltered and the stock dipped into negative territory for the remainder of the afternoon.  This stock continues to flirt with its breakdown area, but once again was able to close negative today, and I find that encouraging.  I’m staying patient with this one while waiting for additional weakness to arrive, so I’m leaving my initial stop loss as-is heading into Tuesday.

Closed Positions:

No closed positions.