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.

FDX Target 1 hit, WFMI & FDX stops tightened

Open Position Notes:

FDX continued higher today to push through my 1st Target where I booked 1/2 profits for a 3.3% gain.  This is a pretty slow mover and I’ve been patient with it, but now that it has gotten back on track I’m going to go ahead and raise my stop tonight for remaining shares.  I still plan to be patient with it while waiting to see if the 2nd Target can be reached, but my original stop is now a bit too distant so I’ve tightened it up tonight.  I will say it’s nice to finally get paid on this one after all the waiting around of the past 2 weeks.

WFMI couldn’t stay down today with the market rallying, and it bounced 1.7%.  This one has been showing some relative weakness to the overall market, but it has also been reluctant to really gather downside momentum toward the unfilled gap from August.  Today’s weak finish was encouraging, but I’ve tightened my stop tonight to breakeven, which still gives it plenty of room to fluctuate if needed while also removing my risk from the trade.

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.

FE removed (pattern negated)

Open Position Notes:

FDX exhibited some nice strength today, adding 2% while the overall market was only up fractionally.  This one does seem to have stabilized since the last pullback, so I’m now going to be watching for follow through.  I may look to adjust my stop in the next couple of days, particularly if some upside traction is found, but for tonight I’m leaving it alone.

WFMI turned slightly lower today again, and although the net change wasn’t significant, I did like the fact that this one remains weak relative to the overall market.  The unfilled gap from August is still my target for this one, so I’m staying patient while waiting for that move to develop.

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 climbed a little bit last week, despite the lack of strength (or movement) in the indexes, and it appears this one has stabilized after its recent dip.  I’d really like to see strength return soon with this one, and if it does I’ll look to tighten my stop loss.  For the time being though, I’ll leave it as-is while waiting for some follow through.  Staying patient for now.

WFMI broke down on Friday as it began to fill the August gap, getting within about 2% of my Target.  However, it stabilized with the market and finished off its worst levels.  I do like the continuation of the overall downtrend here though, so I’m going to stick with my existing trade parameters for another day.

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 rebounded today after pulling back the past few days, indicating the dip may be ending.  I’m being very patient with this one, particularly after seeing my stop loss zone validated last week. so let’s see if some follow through comes along.

WFMI bounced a bit today, unable to shake off the widespread market strength to finish right near my trigger price once again.  Overall this one has the look of a low-level consolidation, so if it can get back on the move to the downside I like its chances.  My stop remains not too far away, so I’m sticking with my current trade parameters for now.

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.

FCN stopped, BEN removed, FE added

Open Position Notes:

FDX pulled back again on Friday to validate my stop loss, but fortunately it held above it.  The stock did rebound from its worst levels though, and therefore could be poised to bounce in the coming days after this light-volume pullback since the breakout attempt.  I still like the setup and the prospects for the trade, so I’m going to stay with it for now.

WFMI bounced on Thursday but weakness returned on Friday.  This one still has plenty of room to tumble, so I’m going to see if last week’s bounce attempt has truly failed, and if so, then I’ll expect to see some downside follow through very soon with a move toward the unfilled August gap.

Closed Positions:

FCN broke out from its pennant pattern and was looking very good, but the initial pullback since then has turned into an all-out downside reversal.  The volume has increased and the selling has intensified, suggesting a change of character may be underway.  I was stopped out of this one on Friday for a 2.3% loss, so I’ll stay away from it for now as it is no longer behaving in a bullish manner.