Swing Updates 1-24-2013

Good morning StockBandits!

I was reviewing my swing trades and wanted to give you guys a quick update as to their progress. There have been a number of them, and so far, so good. Over the past 11 days, several have reached their targets, others are showing open gains but haven’t met their thresholds yet for lightening up, and only a single position has been stopped out. Here they are:

Open Trades:
ADSK (listed 1/14, triggered 1/16)…. Shaping up and making some progress here, I liked the fact that on the pullback Tuesday it held above the uptrend line (my stop). Looking for continuation.

ADS long (listed 1/14, triggered 1/16)… Not moving much, earnings are 1/31 so I’ll be out before then.

PSX long (listed 1/14, triggered 1/15)… Great move, achieved both targets for 4.7% and 8.5% profits.

CLR long (listed 1/15, triggered 1/17)… Modest initial move but currently pulling back and narrowly holding above my stop.

SSYS long (listed 1/15, triggered 1/17)… Excellent pop, achieved both targets for 4.6% and 8.1% profits.

WCG short (listed 1/15, triggered 1/16)… Head fake breakdown, stopped out next day for 5.1% loss.

PWRD long (listed 1/16, triggered 1/18)… Price has stagnated, slightly underwater but still above stop.

WLT long (listed 1/16, triggered 1/22)… Nice initial move so far, time to run before earnings (2/20).

PXD long (listed 1/16, triggered 1/17)… Gapped above trigger, price has moved laterally since, earnings 2/13.

APC long (listed 1/21, triggered 1/22)… Nice initial move so far, heading higher. Earnings on 2/4, so still some time.

SOHU long (listed 1/22, triggered 1/23)… Leaving the base to the upside here, still looks good. Earnings on 2/4.

POT long (listed 1/22, triggered 1/23)… Nice initial move higher through the trend line with room to continue.

GGC long (listed 1/22, triggered 1/23)… Excellent turn up through trend line, approaching target 1.

RKUS long (listed 1/23, triggered 1/24)… Just now triggering, acting well so far.

QIHU long (listed 1/23, triggered 1/24)… Nice initial move through trend line resistance, room to continue higher.

Not yet triggered:
MGM long (listed 1/22)… Still a valid pattern, earnings on 2/22.

GME short (listed 1/23)… Still a valid pattern, earnings 3/18 so plenty of time.

Removed or patterns negated:
DLTR (listed 1/14), never triggered and price has left the trigger zone.

FSLR (listed 1/15), never triggered an entry and price has stagnated, seems to be basing but needs more work.

JOY (listed 1/21), never triggered an entry and fell out of its base Wednesday.

I’ll catch you later with this week’s Charts on Demand video.

Trade Like A Bandit!

Jeff