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.

CBT triggered, WFMI & ILMN stops tightened

Open Position Notes:

WFMI started the day on a weak note, heading quickly lower right from the open after a downside gap.  The stock did recover a bit from its lows of the session, but overall today appears to be the start of the continuation I’ve been waiting for, so I’ve tightened my stop once again tonight.  My Target isn’t far away, so with a little more weakness we could see that hit very soon.

ILMN gapped down and never recovered, finishing the day only a short distance from its lows.  This one continues to act well, and I’ve tightened my stop for this trade tonight in order to lock in some profits just in case it happens to turn higher.  Otherwise, I’ve left it some room to fluctuate, so let’s see if today’s weakness can find follow through tomorrow.

CBT triggered a buy today as it exhibited some relative strength with a breakout through resistance at $25.05, but it wasn’t able to hold the breakout on a closing basis, falling back just shy of resistance by the end of the session.  I do still like this setup and will remain patient for now while waiting for follow through to arrive.

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.

FDX stopped, WX & CBT added

Open Position Notes:

WFMI gave up a little ground today as it finished about 1% lower, but it remains above last week’s lows.  I have already tightened my stop on this one once, and am sticking with my current parameters while waiting to see if it can go ahead and completely fill the gap from August.  It has struggled to bounce, so let’s see if it can exhibit just a little more weakness.

ILMN tested the downside today but ultimately finished just 2 cents from Friday’s closing level.  The turn lower last week followed by today’s inside day implies more continuation could arrive soon, as well as today’s minor gain on light volume.  I continue to like this play, and have tightened my stop slightly again tonight.

Closed Positions:

FDX got to within 6 cents of Target 2 today before backing off to trigger my stop loss, taking me out of the trade for a solid 4.7% gain on the 2nd half.  This one really required some patience after a sluggish start, but it was worth it.  Getting stopped out today is a bit frustrating given that the stock is trading higher after hours after raising guidance, but it was a good trade and I’ll watch for a new technical entry before considering a new position.

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 triggered, FDX & WFMI & ILMN stops tightened

Open Position Notes:

FDX flirted again with the $88 area early on Friday, but by late morning it took a swan dive back down toward $86.  Fortunately, my stop was still safe, and by the closing bell the stock had rallied back to take out its morning high (even though the market did not).  It’s now very close to Target 2, so I’ve tightened my stop aggressively tonight for remaining shares.  This way if it goes a little further, Target 2 will get hit (it traded nearly to that level after hours on Friday in fact).  If not, I’m not going to give it much room against me from here.

WFMI started out strong on Friday along with the market, but it was pretty quick to start giving up ground once the market began to roll over.  It did stabilize later in the day and overall posted a gain, but it’s not rallying big here with the indexes sitting near highs.  I do still like the prospects for this one, but it has been sluggish to move lower, so I’m tightening my stop tonight in order to lock in a small gain should it happen to rally from here.  Ideally it stalls out and rolls back over, but thus far it has had chances to do that and simply has not.

ILMN triggered a short sale Friday as it undercut the $28.85 level, moving decisively lower once that level was taken out.  The selling pressure was intense, which is good, and it implies this stock just confirmed a lower high after the recent bounce.  Volume picked up, which is nice to see on a short sale, but not required.  I’m liking the early action for this one so far, and will be looking for follow through these next few days now that this one is again moving south.  I’ve also tightened my stop a bit just in case.

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.

No changes

Open Position Notes:

FDX made a run at the $88 area this morning, getting to within 1% of my 2nd Target before some profit-taking kicked in.  My raised stop from last night was able to hold, so I’m staying with it tonight in order to book the gain in case the pullback happens to continue.  This has been a sluggish mover and has required patience, but it has worked so let’s see how it ends.

WFMI rolled over nicely this afternoon to post a loss, and it could be that this was the jumpstart it needed to make another move lower toward the August gap.  I still like the setup here, and will stick with my previously adjusted stop 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.

ILMN added, FDX stop tightened

Open Position Notes:

FDX pushed higher once again today, adding 1.4% as the overall market finished relatively flat.  I continue to like the action in this one, particularly after having booked 1/2 profits Tuesday at Target 1, and have tightened my stop once again tonight for remaining shares since the 2nd Target is getting close.  If it reverses, I’ll book remaining profits and step aside, but perhaps it can edge higher and get to the 2nd Target before another rest kicks in.

WFMI attempted to bounce today but ultimately couldn’t get it done, finishing lower by a few cents on the day.  I’ve been very patient with this short sale, and am leaving my already-adjusted stop in the same place heading into tomorrow.  This chart still looks bearish, but the sellers need to assert themselves one more time if we’re going to see that August gap get filled.

Closed Positions:

No closed positions.