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 Target 1 hit & stop tightened, FMC triggered, XEC removed (no trigger + pattern failure), KKR added

Open Position Notes:

ARBA continued higher on Friday, running through Target 1 where I closed 1/2 my position for a quick 5.6% gain.  The stock worked slightly higher from there, but profit-taking erased some of the day’s gains into the afternoon.  To see early strength fade on a Friday afternoon ahead of a long weekend isn’t out of the norm, and considering the light volume we saw all last week I’m willing to work with it.  I’ve raised my stop tonight for remaining shares while waiting for a push toward Target 2.

FMC triggered a buy on Friday as it cleared the descending trend line and turned up from support, but here again with light pre-holiday volume the stock just couldn’t hold onto its early momentum.  Ultimately, it finished right near the breakout zone, so I’m going to stick with my existing trade parameters as we head into next week and wait to see how it acts before jumping to conclusions.  I’d have liked to see a stronger finish, but that’s just what tends to happen on a pre-holiday 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.

ARBA stop tightened

Open Position Notes:

ARBA gapped lower this morning but rebounded quickly to fill it, then trended steadily higher for a few hours.  The pace of the advance stalled a bit late in the session, but the stock held up extremely well after today’s run.  Volume also picked up from yesterday’s levels, although it remained below average.  I tightened my stop for this trade tonight now that Target 1 is nearing, and I’ll look to tighten it more aggressively if and when the first target is reached.  I like the action here so far, and the stock now appears to have a good shot at moving back up within its short-term range.

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.

ARBA triggered, FMC added

Open Position Notes:

ARBA triggered a buy today as it crossed the trend line at $32, recovering nicely from a downside gap on the open.  This one was able to hold above the trend line after clearing it, although it really didn’t make any progress.  Today’s sagging volume in the stock was likely the cause for the lack of follow through, so I’m going to stick with my existing parameters heading into tomorrow’s session and see if it can gain some traction.

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.

ARBA & XEC 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.

NUVA stopped – 100% cash

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

NUVA triggered a buy Thursday as it cleared the descending trend line late in the session, but we really didn’t get much of an indication from the price action since it happened in the final minutes of the day.  Friday morning, the stock gapped lower to hit my stop, taking me out for a 3.2% loss.  While the quick loss is disappointing, the way it happened was a bit more annoying since it triggered so late in the session Thursday and then gapped below my stop on Friday.  Nonetheless, those things are part of trading, so we take them in stride, just as a favorable gap which goes beyond a profit target.  This one clearly isn’t ready, 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.

NUVA triggered

Open Position Notes:

NUVA triggered a buy today as it cleared the trend line with a push through $31.60.  The stock finished just a few cents from that level, which is fine right now considering it triggered in the final minutes of the day.  Ordinarily I’d like to see a solid close beyond the trigger, but in this case it simply didn’t have time to get going.  I’ll suspend judgment for now and see how it acts tomorrow before looking for takeaways from the price action.

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.

MOS closed, NUVA added

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

MOS bounced further this morning, hitting my adjusted stop loss from last night to close out this trade for a net gain of $2.07 (or 2.9%).  While booking a winner is never discouraging, I was a bit disappointed that the high of the day was just beyond my stop before the stock backed off again in the afternoon.  This one may be building another bearish base here, so I’m going to keep it on the radar in case another setup 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.

MOS stop tightened

Open Position Notes:

MOS worked its way higher today after testing the downside early in the session.  This was aided by the market’s afternoon rebound, but this one has generally been resting for the past couple of days anyway.  I was pleased to see it remain beneath Monday’s high, and now the daily chart has a bit clearer of a consolidation area to monitor going forward.  I’ve already booked 1/2 profits at Target 1, and tonight I’ve tightened my stop slightly more for remaining shares.  That way, if it does reverse higher, I’m not allowing it to turn into a loss (barring a major gap, of course).  At the same time, I’m giving it some room and doing my best to be patient while waiting to see if it will weaken further and make a move toward Target 2.

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.

BIDU Target 2 hit & trade closed

Open Position Notes:

MOS gapped lower this morning but reversed higher, slightly taking out Friday’s high at its intraday peak.  After lunch, however, the stock worked its way toward lower levels, finishing only slightly positive on the session.  My stop has already been adjusted for remaining shares (1/2 position after Target 1 was hit last week), so I’m leaving this one a bit of room to fluctuate while waiting for some downside follow through.  Today’s bounce on lighter volume and the lack of continuation on the rebound was encouraging though.

Closed Positions:

BIDU hit Target 1 on Friday, then gapped lower today and hit Target 2 shortly after the open.  That allowed me to close the second half of this position for a very nice $12 gain in just 4 sessions, giving the overall trade a quick net profit of 6.9%.  It’s nice when patterns play out as expected, and even better when they do so in just a few days’ time.  So, I’m out for now with a nice gain, and am going to let this one rest for now and wait to see if a new pattern sets up 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.

BIDU Target 1 hit & stop tightened, SNDK stopped

Open Position Notes:

MOS showed plenty of indecision on Friday, repeatedly crossing the flat line.  Ultimately, though, it finished down slightly.  Ordinarily I’d be a bit concerned that on such a weak session for the broad market this one didn’t participate much, but in this case it actually needed some rest.  The previous two sessions were marked by plenty of weakness with the secondary breakdown, so I’m still pleased with how this one is acting.  I’ve already tightened my stop, and will leave it in place for now while waiting for another move lower.

BIDU broke down hard Friday, finally playing catch-up to the other Chinese internet stocks.  It easily took out the prior low from 5/4, as well as Target 1, where I closed 1/2 my position for a nice 5.3% profit.  I also liked the fact that it ended the day at its lows, suggesting the sellers ran out of time before inventory.  I’ve tightened my stop for remaining shares, but otherwise like the chances for a move to Target 2 in the coming days based upon the weakness in both this stock and the sector.

Closed Positions:

SNDK just couldn’t make it happen last week after breaking the descending trend line and then making multi-day highs.  Instead, it traded heavy, hitting my stop loss on Friday to stopp me out for a 3.1% loss.  This was a technical failure, so I’m out and will wait for a new pattern to emerge on this chart before considering another entry.