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:

MOS gapped lower this morning in the face of a very strong market, thanks to a preliminary injunction from a U.S. District Court.  Goldman Sachs noted it as a “clear negative,” leaving the stock weak on the open.  It was able to hold above my stop loss, however, and soon after caught a bid and filled the entire gap.  The stock strengthened as the day progressed, moving well into positive territory by the end of the day.  This wasn’t quite what I had in mind when I referred to Friday’s inside day often becoming a continuation bar, but nonetheless, that’s what happened.  Today’s bullish engulfing bar came on big volume, and that’s technically very positive to see.  Target 1 is right around the corner, and Target 2 could be reached as soon as this week, so I’ll be looking for follow through in the days ahead as the stock pushes toward those levels.

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:

MOS held up well last week, particularly on Thursday and Friday in the face of market weakness.  The breakout has held for a couple of days, and this one still looks good to me.  Friday’s bar was an inside day, and often times that ends up being a continuation bar.  Given the fact this one just broke out, I’m watching for follow through this week.  My stop will remain unchanged heading into Monday, as I’d like to see some further progress before looking to make any adjustments.  So far, pretty good action.  Follow through needs to arrive next.

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.

GDX closed, MOS triggered

Open Position Notes:

MOS triggered a buy for me this morning as it cleared $47.20, and this one shot higher almost immediately by $1.34.  That marked the high for the day, however, as this one gave back some ground soon afterward.  The stock did stabilize and post a solid gain of 2.4% on the session, and it held the breakout level on strong volume, and I’m encouraged by that.  I’d like to see some follow through in the next couple of sessions now that this one has broken out, so let’s see what happens.  I’ll leave my stop as-is for now so this one has some room to fluctuate if needed.

Closed Positions:

GDX hit Target 1 yesterday right on the number, and then bounced back.  I had tightened my stop for remaining shares last night so as not to give back much open profit on the reluctance of this one to move decisively lower, and today that stop was hit on the open at $47.74.  That closed me out for a modest 2.1% gain on the 2nd half of my position, making the net gain on the trade 3.1%.  That’s decent for a few days in an ETF, so I’ll take it and move on.  The gold miners seem to be trying to stabilize here after a quick move lower, so I’ll wait for a new setup to emerge before looking for 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.

NEM Target 2 hit, GDX stop tightened, MOS added

Open Position Notes:

GDX moved slightly lower this morning, just enough to hit Target 1 where I booked 1/2 profits for a quick 4% gain.  This ETF did rebound from there, finishing positive on the day.  This trade has been acting well, and I’m going to stick with it for now, but I have tightened my stop again for remaining shares tonight.  That way, if it rebounds, I’ll ring the register for a solid net winner, and if it sells off again, I’ll watch for a move to Target 2.

Closed Positions:

NEM hit Target 1 on Tuesday, so overnight I only had a 1/2 position.  I realized this morning that earnings were reported before the bell, which was a complete accident.  I look at a handful of earnings calendars, and apparently the one I looked at for this stock was mistaken on the reporting date.  So, I never intended to hold this position into that major news.  Nonetheless, it worked out favorably (read: “lucky”), and Target 2 was hit today where I closed out the remainder of my position for a nice 7.3% winner.  I’m now out of the trade, and will wait for a new pattern to set up before looking for 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.

NEM Target 1 hit, NEM & GDX stops tightened, STP closed

Open Position Notes:

GDX headed lower today after breaking the rising trend line yesterday, showing some nice relative weakness to the market.  This one got within 2 cents of Target 1, but stabilized just above that level.  I would expect to see that level get taken out very soon, so I’m watching for continuation now that a lower low is in place.  Good action so far, and I’ve adjusted my stop loss to reduce my risk in the position while I wait for follow through.  If this one happens to show some good weakness tomorrow, I may even close it out entirely due to the sharp nature of this move and the tendency of sharp moves to invite reversals.  Therefore, keep an eye on the Twitter stream or your email inbox for a possible alert related to this trade.

NEM continued lower in a nice fashion today as it saw heavy selling pressure.  It moved down through Target 1, where I closed 1/2 profits for a quick 3.9% gain.  Target 2 came close, but the stock held above it for now.  I’ve adjusted my stop for remaining shares tonight while I wait for Target 2 to be reached, but so far, so good for this trade.  If this one happens to show some good weakness tomorrow, I may even close it out entirely due to the sharp nature of this move and the tendency of sharp moves to invite reversals.  Therefore, keep an eye on the Twitter stream or your email inbox for a possible alert related to this trade.

Closed Positions:

STP tried to turn higher out of a very bullish base, but ultimately just couldn’t get it done.  The stock had held up very well in the face of the last market dip, but when the indexes turned back up, this one did not.  A few attempts at a rally were thwarted, and despite my patience, I finally had seen enough.  So today I sent out an intraday alert via email & Twitter that I was closing the position near breakeven ($0.01 gain) at $10.96, and shortly afterward the stock headed south.  When a setup simply isn’t playing out and has been given more than adequate time to do so, an exit near breakeven is the next-best scenario.  I took that today and will stand aside from this stock until it starts exhibiting better strength.

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.

GDX & NEM triggered

Open Position Notes:

STP stagnated again today despite the market strength, and that’s disappointing to see.  This stock had held up extremely well in the face of the last market pullback, and now that the market is running up, this stock is ignoring it.  The pattern remains bullish for now, but the longer it sits here without moving, the more it becomes a trading range rather than a flag or pennant pattern.  The $11.20 level is posing as short-term resistance, and it wouldn’t take much to get this stock moving if it can clear that level.  I’m sticking with it for now, but will look to make an adjustment soon if it proves unable to move.

GDX triggered a short sale today as it broke its rising trend line, and although it ended the day just a few cents above my trigger price, I still like today’s action.  This ETF showed good relative weakness, and the trend line rises daily, so even if price stagnates for a short time here the chart is still short-term bearish.  I’m sticking with my existing trade parameters for this one for now, and will watch for follow through in the coming days.

NEM triggered a short sale today as it undercut its rising trend line at $58.70, and I was pleased with the initial action in this one.  The stock headed steadily lower before stabilizing just slightly in the afternoon, still finishing well in the red and solidly beneath the trend line.  I’m going to hold off on making any stop adjustments just yet, but will be watching for follow through in the next couple days now that this one looks to be confirming a lower high.

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.

NTES closed, GDX & NEM added

Open Position Notes:

STP started turning higher on Thursday and Friday after testing support, and this one still looks like it has plenty of room to run.  We have yet to see good upside momentum, but I’m staying patient with this one because the pattern is so encouraging.  For now, it’s in the green, so I’m going to stick with it and watch for follow through in the days ahead.  If it continues to struggle, I’ll begin making adjustments to my stop loss.

Closed Positions:

NTES hit Target 1 on Thursday last week and was very close to reaching Target 2 heading into Friday, so I aggressively raised my stop loss for remaining shares (1/2 position) in case the stock happened to weaken.  On Friday morning, my stop was triggered on the open to take me out of the 2nd half of the trade at $36.39 for a 6.4% winner.  This one required some patience, and it paid off, but now the stock is encountering some technical resistance so I’ll stand aside until a new pattern emerges.

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.

NTES Target 1 hit & stop raised

Open Position Notes:

NTES has held up well in recent days when the market pulled back, and I’ve been very patient with it as a result.  Today that patience paid off as the stock caught a big bid and sprinted higher.  It pushed through Target 1 where I closed 1/2 my position for 5.8% gain, and now stands just a short distance from Target 2.  I’ve tightened my stop aggressively tonight for remaining shares for that very reason, and will likely see an exit made tomorrow one way or the other.  It’s been a good trade which was worth waiting on, and that should serve me well the next time I get a trigger and am tempted to get bored out of the trade.

STP threatened to stop out yesterday as it finished just a few cents from that level, and thank goodness it didn’t!  Today the stock jumped higher by over 4.5% to get back in the green.  I’m still waiting for price to really leave this consolidation area behind, as this is a very bullish pattern.  It’s requiring that I be patient for now, and on the heels of today’s move in NTES, I’m willing to stay with it a little longer.  Hopefully it can get back on the move tomorrow and head into the weekend with some momentum.

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.

STP & JOE triggered, JOE stopped

Open Position Notes:

NTES held up rather well today despite the weakness in the market (and in tech stocks).  I’m staying patient with this one for now while waiting to see if strength returns.  For the time being, the stock is hovering just above the breakout zone, and that’s technically positive.

STP triggered a buy this morning by gapping slightly through my intended trigger price, and started to see some additional strength in the opening minutes.  Unfortunately, the stock reversed lower and finished just a few cents above my stop loss level and well under water.  This kind of a breakout failure is never encouraging, and I wouldn’t be surprised to see this one get checked out tomorrow as a result.  Nonetheless, I liked the setup and the risk/reward for the trade, and ultimately it’s my job as a trader to put money at risk when there are good reasons to do so.  Sometimes that results in a slap on the hand, and sometimes it pads my wallet.  Trade on.

Closed Positions:

JOE was out of the gate this morning with some strength, triggering an entry for me on the open.  That marked the high point of the day however, as the stock reversed lower to create a new short-term pullback low.  I was subsequently stopped out for quick and frustrating 4.9% loss, and will now stand aside until better strength emerges in this one.

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.

SLW closed, STP & JOE added

Open Position Notes:

NTES held in there very well this morning despite the market weakness, and turned higher mid-morning.  The stock accelerated its advance in the early afternoon, finishing back above resistance with an uptick in volume.  This one has tested short-term support and is now trying to emerge with a new leg up, so let’s see if this 2nd chance attempt at a rally will pay off.  I’ve been patient with it up until now, so with it turning higher here I’ll be looking for follow through in the coming days.

Closed Positions:

SLW wasn’t able to break yesterday’s low, and as a result, turned back up to hit my tightened stop loss.  I’m out of the trade with a 4.7% winner, which is acceptable given the lack of downside follow through in the market.  I’ll now stand aside and wait for a new pattern to set up before looking for another entry.