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.

WLP closed

Open Position Notes:

No open positions.

Closed Positions:

WLP gapped lower Friday morning, along with the market, moving it deeper into profitable territory for me as a swing trade on the short side.  But with the market reversing from key support areas, I recognized the need to book my profits, as per Thursday night’s mention here.  The stock also stopped shy of breaking the May 6th low.  Rather than staying short in an oversold and bouncing market, I chose to ring the register for a 4.5% winner, and am now in cash heading into the new week.  If this stock sets up another pattern, I’ll trade it again, but for now it appears to have found some support and I’m not interested in being short.

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:

WLP showed some initial hesitation yesterday to break down, but today it moved decisively lower with a big expansion in volume.  This confirms the bearish rising wedge pattern, and I’m now on the lookout for follow through.  I’m going to leave my stop loss as-is, because the market is getting rather oversold here and I want to allow some room for a bounce if it should happen early on Friday.  If on the other hand we see early weakness, I may move to exit this position, so watch your email inbox for an alert (I will also post any exit on Twitter).  Just wanting to stay flexible in this market which is getting to the point where a relief bounce could come at any time.  Nice action here today though.

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.


WLP triggered, EGO removed (no trigger, pattern negated)

Open Position Notes:

WLP triggered a short sale today right at the open as it moved through the lower end of the rising wedge pattern on the daily chart at $52.80.  The initial downside was limited, however, and the stock bounced into positive territory by the end of the session.  While I don’t like the headfake-type action on my entry day, I am willing to stick with this one for now, so my stop hasn’t been altered heading into tomorrow.

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.


LLL, EL, UNT closed, EGO & WLP added

Open Position Notes:

No open positions.

Closed Positions:

LLL moved higher off the open today, but along with the market reversal, it slid steadily lower into the afternoon.  With the closing bell approaching though, the market had started to stabilize, so I moved to exit this position and book the 1.5% winner in an effort to reduce short exposure into the market weakness of the past few days.

EL was also off to a strong start this morning, but made a decisive move lower with a steady trend into the afternoon.  As yesterday’s lows were approached, the stock began to stabilize (along with the market), so I closed the position for a 4.1% winner.  It may still continue lower, but with the market having sold off, the odds for a bounce are increasing and I’m trying to stick and move in this tape.

UNT moved higher this morning, but ultimately gave it all back and moved into negative territory with the market reversal.  This stock had approached yesterday’s lows, and with the broad market starting to stabilize, I felt it was best to book the 5.2% winner and eliminate my short-sided exposure into weakness.

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:

LLL was heading nicely lower today, but the market rebound took this one with it.  It only finished positive by 6 cents, which sure isn’t much, and volume stayed below average.  That may point to merely a bounce at this point, but at this point it’s too early to tell.  I’m sticking with my existing trade parameters for now until further clarity comes along in the chart, as that should allow this one some freedom of movement if needed.

EL was heading lower today until the afternoon bounce took it positive on the day.  However, volume was below average with today’s bounce, and that may suggest merely a bounce here.  I’m leaving this one plenty of room to fluctuate for now while waiting for some follow through, so my stop will remain as-is heading into Tuesday.

UNT continued nicely lower today with another above-average volume session as prices declined.  This one got pretty close to my Target, but bounced before moving through that level.  Nonetheless, I do like the fact this one finished weak in the face of a market which recovered, so let’s see if it can hit the Target in the next day or two.  If not, I’ll probably look to make an adjustment.

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.


LLL, EL and UNT triggered

Open Position Notes:

LLL triggered a short sale on Friday after gapping slightly through my intended entry price, but the stock continued lower from there.  It was able to stabilize into the afternoon, but no real bounce attempt was made.  I’m sticking with my existing trade parameters for now, waiting to see if it can make additional progress before I look to make any adjustments.

EL triggered a short sale on Friday as it gapped slightly through my intended entry price as well, and it trended steadily lower for the remainder of the day.  This is a good start to the trade, and I’ll be looking for continuation in the coming days.  I have not adjusted my stop yet, but if the stock is able to move further in my direction I’ll likely look to do so.

UNT triggered a short sale on Friday, also gapping through my intended entry price at the open.  The stock made some headway on the downside before stabilizing in the afternoon, and a modest bounce was seen late in the day.  I am sticking with my existing trade parameters for this one for now, waiting to see if more weakness sets in.

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.


LLL, EL and UNT added

Open Position Notes:

No open positions.

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.

MTW closed

Open Position Notes:

No open positions.

Closed Positions:

MTW triggered a short sale last Wednesday, causing me to chase it just slightly after it gapped through my intended entry level.  From there, the stock worked quite well, falling apart on Thursday to move through Target 1 & Target 1, allowing me to book quick gains for a 7% profit in just 2 days.  I’m out of the trade and will stand aside while waiting for a new pattern to emerge.  Quick winners are my favorite kind, and this one delivered – hope you were able to participate!

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.


MTW triggered, JPM triggered & stopped

Open Position Notes:

MTW triggered a short sale this morning as it gapped slightly through my intended entry price, and it showed some nice initial weakness.  The downside was limited though, and a relief bounce followed into mid-day.  Some selling pressure returned in the afternoon, bringing it back to within a few cents of my entry price by the closing bell.  I’m sticking with my existing stop loss heading into Thursday, allowing this one some room to bounce if needed while waiting to see some downside follow through.

Closed Positions:

JPM triggered a short sale this morning on the open, gapping slightly through my intended entry price and heading lower initially.  However, as the market stabilized, this stock did too, and a bounce followed.  With a pretty tight stop already in place, I was taken out of this trade for a 2.7% loss, and will step aside for the time being.  This one still appears in danger of lower prices, but today’s reluctance to drop suggests I’m early so I’ll keep it on watch 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.


JPM & MTW added

Open Position Notes:

No open positions.

Closed Positions:

No closed positions.