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.
AIV Stop raised, SNDK Triggered, DOW & GET added
Open Position Notes:
FLR has quietly been in bounce mode for the past several sessions, but former support has not been reclaimed and now we’re seeing volume on the bounce begin to taper off quickly. That may imply that another decline is coming, so I’m sticking with this one to see if that occurs. I also like today’s slight downtick as a potential indicator that this stock may be getting ready for another leg down. I’ve only got a 1/2 position here as the 1st Target has already been reached, so I’m trying to be patient while I wait.
AIV pushed through the 1st Target today with some nice early strength. I booked 1/2 profits there for a 6.8% gain, and continue to like how this one is acting. The 2nd Target is still a possibility, so I’ll hang on while waiting to see if it can be reached. In the meantime, I’ve tightened my stop again for remaining shares.
SNDK triggered a short sale today as it undercut the $21 level to confirm another short-term lower high. Initially this stock hesitated to roll over, but as the afternoon weakness kicked in, this one was compliant and began to turn lower. With the market dip getting bought though, SNDK stabilized and finished right near the trigger price. I do still like the prospects here for some downside in the name, so I’ll sit tight for now.
Closed Positions:
No positions were closed today.
