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.

NOG Target 1 hit (1/2 profits booked) and stop raised

Open Position Notes:

AEM pushed past yesterday’s high this morning, but wasn’t able to hold onto the upside gap.  Profit-taking kicked in and the stock turned negative, where it stayed for the remainder of the day.  We also saw volume increase over yesterday’s volume on the breakout, which isn’t an encouraging sign.  This stock is now back inside its base after a failed breakout, but there’s still a shot at another attempt higher.  I’ll give it that chance by leaving my stop loss as-is for tomorrow’s session and then reevaluate over the weekend.

NOG continued nicely higher today with a morning run up which took it past Target 1 at $24.10.  I closed 1/2 my position there for a quick 7.1% profit.  Last night I mentioned I had wanted to see the stock push past last week’s high, which it did with ease today on improved volume.  The afternoon pullback was mild and essentially the stock based for the final few hours of the day, which is fine and understandable after a big quick pop.  I’ll give remaining shares some room to breathe with an adjusted stop loss, and otherwise will be on watch for follow through in the coming days.

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.

AEM & NOG triggered

Open Position Notes:

AEM triggered a buy today right after the opening bell.  It pulled back slightly soon afterward to fill the morning gap, then worked its way higher into the afternoon.  Today’s advance was nothing spectacular, but that’s entirely fine.  This is the kind of setup I expect to gradually gain momentum, so a quiet start is perfectly alright.  Volume was quiet across the board today, but I would still like to see the activity in this one perk up a bit to accompany the price advance and add some credibility to it.  Now I’ll be watching for follow through.

NOG triggered a buy today, pulled back briefly, then spiked higher.  The stock got within just a nickel of last week’s high before backing off slightly in the afternoon.  Today’s breakout was solid, and I liked the relative strength to the market.  Next I’d like to see some follow through, stronger volume (though it did improve today), and a move beyond last week’s high at $23.34 just to truly confirm the breakout.  Good start so far.

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.

AEM & NOG added

Open Position Notes:

No open positions – 100% cash (waiting for entries to trigger).

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.

GGC stopped

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

GGC triggered a buy yesterday as it left its falling wedge pattern to the upside.  Volume wasn’t inspiring, but neither was the overall market volume, so I wasn’t concerned about that aspect yesterday.  I noted here last night that I wouldn’t expect the stock to reverse sharply after leaving the wedge, and I raised my stop a bit as a result.  Today with the market selling off hard, GGC stopped me out for a 3% loss.  It’s never fun to see an about-face turnaround in a trade which cleared a key trend line on a closing basis just last night, but a technical failure is grounds for dismissal so I’m out of this position and have no interest in the long side with the stock once again making new lows.

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.

GGC triggered and stop raised

Open Position Notes:

GGC triggered a buy today as it cleared the descending trend line at $26.30 to start a potential new leg higher.  After clearing the trend line, it spent the next few hours in a high base on the intraday chart, which is a good way to consolidate the morning advance.  Holding its ground and finishing above the trigger (despite a lack of market upside after triggering) are both positive from a technical standpoint, so I’ll be watching for continuation in this one in the days ahead.  I’ve raised my stop tonight in order to reduce risk now that it has turned higher, as I wouldn’t expect it to retrace much on a pullback with this falling wedge pattern.

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.

GGC 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.

KKR closed

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

KKR had been holding up quite well since triggering an entry, but the weak market last week warranted a stop adjustment and that level was hit on Friday to take me out of the trade for a minor 2% loss.  Friday’s turn lower gives the daily chart the look of a lower low being established, so I’ll stay away from this one for now until it can stabilize and show a new pattern.

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.

ARBA closed

Open Position Notes:

KKR held up again today, adding just a few cents but once again on a day when the overall market showed some weakness.  That implies this stock wants to head higher, but with it still hanging around the trigger area I’ll suspend judgment for now.  Nonetheless, with a raised stop in place and some stability over the past couple of sessions, I like what I’m seeing so far.  If the market bounces, I would expect this one to participate but we’ll see.

Closed Positions:

ARBA tried to recover this morning from a shaky start, but couldn’t gain traction and instead yesterday’s weakness carried over into today’s session.  That took the stock down to my adjusted stop loss, taking me out of the 2nd half of this trade at breakeven.  With Target 1 getting hit, this position netted a 2.8% profit, a modest gain.  That’s not as good as it was at one point, but with the market weakening so quickly and with the second half stopping out, I’ll take the gain.  This stock may now need to test the lower end of its range again, so I’ll standby and see what happens before considering another entry.

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.

FMC stopped, KKR stop tightened

Open Position Notes:

ARBA showed some nice early relative strength this morning as it challenged last week’s high, stopping just 1 cent shy of that level.  The stock returned to the flat line by mid-day, but the selling accelerated in the afternoon and this one crossed the finish line just about 1% from my raised stop.  I’d been giving this one some room for remaining shares to fluctuate and digest the recent run if needed, so for now I’m still in and waiting to see if it can stabilize.  If it can, I may look to make another adjustment to my stop at that point.

KKR held up extremely well today in the face of nonstop selling in the broader market, actually posting a minor gain on the session.  Yesterday’s lows were tested and held, and the stock simply spent the day in a trading range, apparently oblivious to the overall market weakness.  Despite the relative strength shown today in the stock, the overall market is showing weakness here so I’ve tightened my stop for this trade in case it happens to turn lower.  This will give it some room to move, but should it start to break down I’ll close it out for a minor loss and return to the sidelines.

Closed Positions:

FMC struggled to hold its ground today, giving up the entirety of its multi-day bounce of the past few sessions to mark new correction lows.  The breach of support was what I had been looking to use as my stop, and today that was triggered to take me out of this trade with a minor 2.3% loss.  This stock now looks vulnerable to further weakness so I’ll stay away until a new pattern builds.

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.

KKR triggered

Open Position Notes:

ARBA gapped higher this morning but quickly came under pressure and went negative.  The stock found support intraday about $1 above my stop, and then stabilized from there.  It spent the rest of the session bound between the morning low and high, but I liked the late-day buying which took it back positive on the day  by the bell.  This stock continues to act well, and overall looks to be resting.  I’m sticking with my raised stop on my remaining shares after booking 1/2 profits last week at Target 1.

FMC struggled to the finish last Friday, but today it got back on track with a solid advance.  It stopped just shy of the prior high (set on 5/19), and backed off slightly from there.  Nonetheless, this stock is progressing alright, and I liked how volume returned today on the advance.  I’m going to stay patient with it for now, looking for at least a higher high and some more progress toward the targets before I look to make an adjustment.

KKR triggered a buy today as it cleared the descending trend line and made a multi-day high at $17.25.  Even though volume picked up with today’s action, it apparently wasn’t quite enough to really push it higher on the day, as it finished just a few cents from the trigger.  I’m going to stick with this one for now and see if it can gain some traction in the days ahead, as it may simply be a bit of a late bloomer and play catch up to the market in the next few sessions.

Closed Positions:

No closed positions.