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.

AGU triggered, ATU & WYNN stopped

Open Position Notes:

AGU triggered a short entry for me today as it broke the rising trend line of support this morning at $80.40.  The stock moved slightly lower from there, stabilized, and then reversed to finish positive on the day and reclaim that broken support.  This may prove to be another head-fake, but for Friday I’m going to stick with my position and existing stop loss and see if this one shows any further signs of weakness.

Closed Positions:

ATU sold off hard at the open, triggering my stop to take me out of the trade for a 3.9% loss.  The head-fake breakout in this stock was violent, and today’s drop back beneath the base is a signal that the character of this stock has suddenly changed.  I’m out and will stay away from it for now.

WYNN broke support earlier this week and bounced back in a lazy fashion yesterday, indicating continued weakness once the buying fizzled out.  Today however, the stock got an upgrade which sent it gapping higher, triggering my stop to take me out right after the open for a 3.6% loss.  Headline-related stops are never any fun, but the stock finished another $2 higher from my exit, making me glad to be out.  I’ll keep this one on the radar in case it heads back down to challenge support, but for now the stock is trying to head higher and I have no interest in fighting it.

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.

RS & MTW stopped, ATU triggered, AGU added

Open Position Notes:

WYNN had put together a string of declines prior to today, and although they were minor, the stock was probably due for a bounce.  Today we saw some minor upside in the stock, but I was encouraged by the fact it finished well off its best levels.  Volume was up, but most likely just due to more churning with the stock crossing the $100 level again during the day.  So for the moment, the stock is clinging to support, but the price action isn’t suggesting a lot of strength here.  I’m going to stick with my existing stop heading into tomorrow.

Closed Positions:

RS attempted to move higher out of its base, but with a couple of weak finishes the stock just wasn’t showing much conviction.  Today we saw a little deeper pullback develop, taking me out of the trade for a modest 2.6% loss as it moved to a new pullback low.  I’m going to keep this one on the radar in case it sets up again, but for now this is a failed pattern.

MTW broke out on Monday and pulled in slightly on Tuesday, posting an inside day on lighter volume as it appeared to be just a technical test of the breakout zone.  Today however, we saw the stock fail in more spectacular fashion, moving decisively lower to negate the bullish pattern and stop me out for a 3% loss.  I’m going to leave this one alone for the time being due to the fact it’s not showing any follow through to the upside.

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.

WYNN triggered, PVH stopped, ATU added

Open Position Notes:

RS gave back a little ground today, but for now remains above my stop loss and within the pattern.  Monday’s breakout attempt and return to the base lacked volume, and today we saw activity taper off yet again.  Tonight I could re-draw my trend lines for the pennant, which remains a bullish pattern, but a multi-day high and some volume expansion will be needed to get this one back on the move.

MTW pulled back today to test the breakout area on reduced volume, and I like the fact it was able to finish again above that level.  Today’s dip looks like a test to me, so I’m going to wait and see what Wednesday’s session brings before considering any changes or adjustments here.

WYNN triggered a short sale today as it undercut support at the $100 level, and I was encouraged that the stock was able to finish the day beneath that level.  This stock has shown persistent relative weakness to the overall market, and volume picked up slightly today to indicate the presence of more sellers.  Let’s see if some follow through comes along in the next couple of days.

Closed Positions:

PVH triggered a buy on Friday but since then has shown nothing but weakness on expanding volume (which I noted here last night I didn’t like).  Today my stop was hit to take me out for a modest 2.5% loss.  This one just isn’t acting right after an attempt to move higher, so I’m going to leave it alone for now.

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.

MASI stopped, RS & MTW triggered

Open Position Notes:

PVH tried to head higher this morning, but ultimately saw selling pressure drive the stock lower for the better part of the day.  I still have my stop loss in place, and will leave it as-is for Tuesday to see if short-term support is able to hold, but I didn’t like the weak finish here today in the stock or the fact that volume picked up on the downside.  Today’s bar was also a bearish engulfing bar, so it could be I get stopped out of this one on Tuesday, we’ll see.

RS triggered a buy today as it cleared the upper trend line of its pennant pattern, and for much of the day it held above that level despite the lack of upside momentum in the overall market.  In the afternoon however, the stock gave  back some ground alongside the market weakness.  It still finished positive on the session, but it finished back below the trend line and volume failed to impress.  I’m going to stick with my existing stop loss heading into Tuesday.

MTW triggered a buy today as it cleared the upper trend line at $13.05 to confirm the bull pennant pattern.  This one showed nice relative strength to the market with a solid gain on the day, as well as nice expansion in volume on the daily chart.  I’m going to leave my stop as-is for Tuesday while waiting to see if this one can head toward Target 1 where I’ll look to book 1/2 profits.  Nice start so far, let’s see if we get follow through.

Closed Positions:

MASI triggered a buy on Friday but wasn’t able to hold above the trend line.  Today the stock was weak from the beginning of the day, and it undercut support to stop me out for a modest 2.3% loss.  Taking a loss is never fun, but in this case it was a calculated trade with what I felt was minimal risk, and therefore well worth taking the trade.  This stock is no longer exhibiting short-term bullish action, so I’ll leave it alone for now.

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.

MASI & PVH triggered, RS & MTW added

Open Position Notes:

MASI triggered a buy on Friday as it crossed the trend line at $31.75, but with volume retreating from Thursday’s levels (and below average), there just wasn’t enough fuel to push the stock higher on this first attempt.  My stop is still intact for now, and I’ll stay with it heading into Monday, but it could be that this one needs another shot at a turn higher.  If not, I’ll abide by my stop and keep my risk in check.

PVH triggered a buy on Friday, but here again volume sagged and the stock only managed to break even on the day and finished a few cents beneath my trigger.  With this being a falling wedge pattern that’s often resolved to the upside, it may take a day or two for it to get going since price can move sideways and technically break the trend line.  For now, my risk is defined, and I’m going to see how this one acts on Monday before passing any further judgment.

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.

MASI, PVH added

Open Position Notes:

No open positions – 100% cash.

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.

WYNN added

Open Position Notes:

No open positions – 100% cash.

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.

NG closed, back to cash.

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

NG gapped higher this morning, but quickly gave it back as profit-taking produced a gap fill.  I was concerned last night the stock may be getting short-term stretched, hence the aggressive raising of my stop loss for remaining shares.  Today that stop was hit, netting me an 8.4% gain on the overall trade.  I’m pleased with that in just 3 sessions, and given the trend is still up in this stock, will keep it on the radar in case it sets up for another entry.  For now it appears to need some rest after a quick ramp higher.

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.

NG Target 1 hit & stop raised, F & MOS closed (last week)

Open Position Notes:

NG triggered a buy on Friday as it cleared the upper trend line of the large bull pennant I’ve been watching, and showed excellent continuation today.  The stock ran right through Target 1 this afternoon where I closed 1/2 my position for more than a 9% gain.  I’ve tightened my stop for remaining shares to just beneath afternoon intraday support so as to book a big winner should this one happen to pull back before reaching Target 2.  This move has been big and fast, so I have no interest in giving much of it back if the stock happens to take a breather.  With the S&P still in a trading range, it remains important to stick and move.

Closed Positions:

MOS bounced on Friday to hit my adjusted stop to take me out for breakeven.  That was a disappointing outcome given the fact this stock had been performing very well as a short sale in the face of a strengthening market, but with Target 1 not getting hit I just couldn’t allow the decent winner to turn into a loss.  I was patient with the trade, adjusted my stop along the way and still allowed it room to fluctuate, but the result was a flatted trade.  Whenever that happens and a stock reverses, getting out at breakeven is the next-best thing.  In a bull market, the short side just becomes more tricky.

F hit Target 1 on Thursday and I adjusted my stop for remaining shares and that was hit on Friday to take me out of the trade for a 2.2% gain on the 2nd half.  The net for the trade was a 2.9% gain, which is nice for a mega-cap stock.  It looks like it needs rest for now, but I’ll keep it on the radar in case it sets up again.

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.

F 1/2 profits taken, SM profits taken, MOS stop tightened

Open Position Notes:

MOS tested the waters on the upside this morning, but once again showed some excellent relative weakness to the overall market as it turned lower and trended down for the rest of the day.  The stock finished just a short distance from its lows, and continues to act heavy.  That’s nice for this short sale, and perhaps we’ll see a push to Target 1 ahead of the weekend.  I’ve tightened my stop tonight to breakeven to give this one a little breathing room, but otherwise will be watching for more downside.

F continued nicely higher today, and got very close to Target 1 before backing off slightly.  I sent out an intraday alert via email & Twitter to say I closed out 1/2 my position at $16.82 (hence the * in the grid above) to book a quick 3.5% gain.  The cause for that was that the stock was hesitating just a few cents from Target 1, and I felt it best to take some profits off the table rather than leave my stop as is and hold on for a few more pennies.  So, I’m now out of half my position, and have raised my stop tonight for remaining shares in order to lock in some solid gains if the stock happens to slip.  Otherwise, I’ll see if it can keep climbing, and if it becomes short-term extended I will send out another alert to book remaining profits.

Closed Positions:

SM pushed higher again today to show some follow through in price, but the volume expansion I was looking for just wasn’t there in the morning.  I sent out an intraday alert via email to say I was closing out this position for a 3.8% gain ($1.90 per share), so I’m now out of the trade.  The stock did move higher and push through Target 1, so for those of you who held on, that’s nice.  For me personally, the lack of volume made this advance hard to trust, so I rang the register to book the gain.  I’ll keep it on the radar since the trend is still up, but I’d like to see volume and price work together to offer some unified signals.