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.

No changes

Open Position Notes:

CBT shrugged off today’s market weakness and continued higher by another 2.5% to build on its breakout.  While I like the follow through this one is finally starting to show, I particularly liked the increased volume which accompanied today’s climb.  My stop will remain as-is heading into tomorrow in order to give this one some room to fluctuate.  If it exhibits additional strength, I’ll look to make an adjustment.

MDVN tested the highs again today but couldn’t bust through them.  Instead, it gave up a little ground on light volume, essentially respecting yesterday’s trading range.  I still like this setup and the potential it holds, and I’ve already adjusted my stop, so I’ll stick with my existing parameters for this trade heading into Wednesday.

VNO posted an inside day on light volume today, pulling back to test the breakout zone.  Although I’d have rather seen it sprint higher, this is probably healthy action and thus far is not cause for alarm.  I’m sticking with my original stop loss for now, but will be on watch for strength to resume soon.

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.

VNO triggered, CBT & MDVN stops tightened

Open Position Notes:

CBT gapped higher this morning, but gave up its early gains with a test of the downside.  It didn’t spend much time there though, and by late morning it was trending higher.  Late in the day, it stabilized, holding onto its gains well in order to post a breakout on a closing basis.  This is encouraging, as the stock has been reluctant to run for the past few days.  Nonetheless, today’s move did come on light volume, which makes it a bit tougher to trust.  As a result, I’ve raised my stop tonight while still trying to leave it a little room to fluctuate while waiting to see if follow through arrives.

MDVN saw some early selling pressure today, but only was able to break Friday’s lows by a small amount before it stabilized and turned higher.  It trended for the remainder of the session, posting a solid gain by day’s end.  This is encouraging, so with the expectation of more strength based on the brief dip, I’ve tightened my stop loss tonight in order to further reduce risk in the trade.

VNO triggered a buy today as it cleared the trend line at the $70 level, and initially it hesitated.  Early strength was quickly surrendered, and the stock moved negative on the day.  However it did stabilize, and the stock behaved very well from that point forward with some nice strength to close out the day.  I’m leaving my stop loss as-is for now in order to allow this one some room, but if it is able to continue higher then I’ll make an adjustment.

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.

ILMN stopped, VNO added

Open Position Notes:

CBT flirted for the fourth straight session with a breakout, and once again couldn’t make it happen as it slipped right back under key resistance by the end of the session.  This is still a setup which holds some promise, but the lack of follow through remains a concern.  I tightened my stop last week, and will stick with that adjusted stop heading into Monday.  It’s not far away either.

MDVN turned nicely higher on Thursday after triggering a buy, and was showing some follow through early on Friday as it made new highs, but some profit-taking kicked in and erased the early gains, putting it in negative territory by the end of the session.  Overall though, this one is still looking good and I’ll stick with my adjusted stop loss for now which stands at breakeven.

Closed Positions:

ILMN worked well for me but did trigger my adjusted stop for remaining shares on Friday as it turned higher early in the day.  This one could now create a higher low on the daily chart, so I’m out of the position with a net 5% gain, and will stand aside waiting 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.

MDVN triggered, CBT & MDVN stops tightened

Open Position Notes:

ILMN bounced a bit today, stopping just a penny short of my adjusted stop loss for my remaining 1/2 position (1/2 was closed at Target 1).  This validates my stop for the time being, and I’ll wait to see if this one can turn back down.  If not, I’ll book the winner, but hopefully it can head toward Target 2 before it’s done.

CBT cleared yesterday’s high by a couple of cents today, but couldn’t stand it and gave back its early minor gains.  It finished the day just a short distance from my trigger, and overall this is not the kind of breakout behavior I’d like to be seeing.  I tightened my stop for this trade tonight because of that, but perhaps it just needs one more shot to gather some momentum.  If not, I’ll honor my stop.

MDVN triggered a buy today as it turned back up from its recent pullback, and the bounce found some legs.  The stock ended the day near its highs and well clear of my trigger, but volume was overall light, so I tightened my stop to breakeven due to the light volume.  This one has exhibited strong volume on every recent advance until today, so that’s a slight change which I don’t love.  Barring any major gaps in the stock, this means a “free” trade with my stop now at breakeven, so let’s see if it can head toward Target 1 before the weekend.

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.

WFMI stopped, ILMN Target 1 hit & stop tightened, WX removed, MDVN added

Open Position Notes:

ILMN continued lower today, moving through Target 1 where I closed 1/2 my position for a solid 6.2% gain.  I’ve tightened my stop again tonight for remaining shares, but overall am pleased with how this one is moving and it still has potential for further downside.  So far, so good.

CBT turned slightly higher today, finishing right near the breakout zone on the daily chart.  This is a slower mover but I still like the potential here, so I’m going to stick with my existing parameters on this trade for now while waiting for follow through.

Closed Positions:

WFMI has been sluggish to get going in my direction lately, reluctantly creeping down since it broke support.  The lack of downside momentum has caused me to keep my stop somewhat tight, and today my adjusted stop was hit as this stock bounced.  I’m now out of the trade for a 3.3% gain, and will stand aside while waiting for a new pattern to emerge in this one.