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:

RAX gapped higher on Friday, but quickly turned red, filling the morning gap and heading lower in a hurry.  From there it was able to bounce slightly off its lows, but no additional attempt to bounce took place for the remainder of the session, and it chalked up a 1.8% decline on the day.  This brings it back under the breakdown zone, which is encouraging.  The key now will be follow through, so let’s see if this one can show more relative weakness in the days ahead.  Not a bad start, but I need to see more weakness to trust that this one is really going to roll over.

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:

RAX headed lower today right out of the gate with a gap down and some nice continuation on the downside, triggering a short entry for me as it undercut the $18.90 level.  Mid-day, the stock bounced back up to test the breakdown level for a while, further validating that area on the chart as important.  The late-day market strength took this one with it though, lifting it further from its worst level of the day.  The stock is struggling to break down hard, which is no big surprise given the widespread market strength, but I do still like its relative weakness to the market – and today especially.  I expect this one to roll back over if we see any relent in the rally, so I’m sticking with my existing stop loss heading into Friday.

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.

FSLR stopped

Open Position Notes:

No open positions.

Closed Positions:

FSLR rolled over yesterday with a downgrade and some nice relative weakness to the NAZ, and the trade appeared to be taking shape nicely as it resisted the recent market strength.  Today however, the company had some positive news of a new contract with PG&E, sending the stock running higher with a push through last week’s highs.  This triggered my stop to take me out of the trade for a 3.5% loss, which is disappointing given the nature of this upside reversal on news.  This stock is still in technically poor shape, so I’ll watch for another pattern to emerge in the days and weeks ahead.  Today’s strength deserves respect, so I’ll stand aside 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.

RAX added

Open Position Notes:

FSLR triggered a short sale on Monday, but struggled to produce any initial follow through.  This morning, the stock was hit with a downgrade, and despite an early attempt at a bounce it remained underwater and finished the day with a more bearish-looking chart.  Today’s move came on increased volume, which gives the daily chart more of a rolling-over appearance.  This stock now looks poised for some follow through, so let’s see if we get it.  If anything, I liked today’s relative weakness compared to the NAZ.

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.

FSLR triggered

Open Position Notes:

FSLR triggered a short entry today as the stock began to fail at short-term resistance and begin to roll over by making a multi-day low.  With the overall market holding up, and particularly the NAZ, no downside follow through was seen.  The stock was able to bounce slightly from its lows, ending the day positive by 2 cents.  I still like the relative weakness this one is showing, and expect it to participate on the downside once the NAZ pulls back.  Until then, I’m sticking with my original stop loss level and will be patient while waiting for some weakness to kick in for this stock that’s still stuck in a downtrend.

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:

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.

FSLR 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.
TIF closed

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

TIF bounced in a hurried fashion from the February low, but volume failed to support the move, creating a bearish divergence in the process.  The recent hesitation to move higher offered a risk/reward scenario I liked, along with a well-defined entry and stop for initiating a swing trade on the setup.  After an initial trigger though, the stock hesitated to continue lower, and ultimately moved up to stop me out on Friday for a 2.5% loss.  I’m out of the stock and this move negates the pattern, so I’ll leave it alone until another tradeable 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.

PBR closed

Open Position Notes:

TIF continued lower today with some nice early weakness, although it reversed higher from its lows when the market bounced this afternoon, finishing slightly positive on the day and slightly underwater from my entry.  Volume remains light, and this one is acting reluctant to make a decisive move lower at this point.  My stop loss is still in place above the recent highs, so I’m sticking with that heading into Friday’s session.

Closed Positions:

PBR gave up more ground today with the early market weakness, gapping lower and well into profitable territory.  With earnings due out on Friday, I’ve mentioned the previous 2 nights that I’d be looking for a good spot to book profits and close this position, and today I closed it out for a 4% winner.  This one still looks technically prone to weakness, but I won’t be taking the earnings gamble, so I rang the register and booked the winner.

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.

UA & LAMR closed

Open Position Notes:

TIF bounced today with the market, but there were a couple of factors which I found notable.  First, the stock remained beneath the recent highs.  Sometimes for turnaround plays like this one, multiple failures are seen before a lasting turn is made.  It could be that today’s action is simply part of that process.  Second, today’s upside volume was extremely light – only 1/2 of normal.  That’s encouraging, as it points to limited participation on today’s strength.  We’ll know soon enough if this one is going to work, but for now I’m sticking with my original stop while waiting to see if the short-term highs will hold.

PBR gave up a little ground today despite the market strength, which is encouraging.  Nonetheless, with earnings due out on Friday afternoon, I still will be looking to make an exit in this one sometime on Thursday in order to sidestep the earnings news.  My stop has already been moved to breakeven, so I’m willing to wait to see if any further weakness sets in on Thursday, when I’ll look to make an intraday exit. Watch for an update on Twitter, email, or here in the comments.

Closed Positions:

UA gapped higher this morning and soon hit my stop loss, taking me out of this short for a 2.5% loss.  This one was moving back to new recovery highs, which implied it was set to continue the bounce from the February low.  With that being the case, I didn’t hesitate to step aside and exit, unwilling to fight the position in which I was clearly wrong.  Although the stock did come down from its intraday highs, it still is flirting with short-term resistance, so I’m going to leave it alone for now.

LAMR has earnings due out tomorrow morning, and last night I mentioned I’d be looking for a spot to exit this trade sometime today.  I had tightened my stop loss to breakeven, but today the stock opened slightly above that level, taking me out for a 5-cent loss.  While I do like the technical setup in this stock for a move back down toward the recent lows, the fact is that I refuse to make the earnings gamble, so I’m out with a fractional loss and will wait for the news to pass and a new pattern to emerge before considering another entry.