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.

USO triggered

Open Position Notes:

CVX tested the downside today but finished the day slightly positive following an afternoon rebound which erased its losses.  This one continues to look like it could break out and get running on the daily chart, although we have yet to see it.  I’m staying with it for now with no changes tonight.

FCN sold off this morning but was able to stabilize for the remainder of the day, never breaking the morning low set in the first hour.  Today’s dip came on light volume, so I’m sticking with my existing trade parameters for now while waiting to see follow through.

FDX turned lower today as it retraced some of its recent gains, although it did hold above the Monday morning gap.  Today’s downside also came on light volume, so I’ve made no changes for this one as I’d like to see how it responds in the next couple of days.

WFMI continued lower today after yesterday’s trigger, although it did not break Tuesday’s low.  This one still has some room to tumble before the August gap gets filled, so I’m staying patient with it for now.

USO turned higher today by briefly breaking out of its descending channel, triggering an entry for me as it hit the trigger twice right on the number.  I would have expected it to push on through the whole number at $41, but it didn’t, and instead backed off slightly from that level.  This is a slow-moving ETF, and it appears we’re still waiting for a breakout that will stick, so perhaps that can occur in the next couple of days.  I do still like this setup and will leave my stop as-is 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.

WFMI triggered, HAL & BEN & USO added

Open Position Notes:

CVX posted a slight gain on the day despite spending the session in a choppy trading range  This one has yet to really break out and run higher, but it can be a slow mover so I’m doing my best to be patient for now.

FCN started the day in negative territory, but quickly gained some traction and worked higher for the rest of the day with some intraday higher lows being formed on each pullback.  The upside was limited, but I like the relative strength and it still has plenty of room to run.

FDX spent the day in a rather choppy range, although it did post a gain on increased volume.  This one is acting well, so I’m going to stick with my existing trade parameters for at least another day before looking to make any adjustments.  I like the quiet advance today, and will watch for follow through.

WFMI triggered a short sale this morning as it sold off steadily for the first 1 1/2 hours of the day.  From there it stabilized and rebounded a fair amount, but it still finished not only negative on the day but also beneath former support.  I continue to like the prospects for this one, so I’m sticking with my existing trade parameters.

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.

FCN & FDX triggered, X removed, WFMI added

Open Position Notes:

CVX turned higher today to get back above the trading range, although volume was still lackluster.  This stock remains sluggish, but the pattern is still constructive, so I’m trying to be patient with it while waiting to see if it can get back on the move by leaving this high trading range on a solid breakout.

FCN moved up and out of its bull pennant pattern today with an uptick in volume.  Today’s high approached the recent high from last week, but it wasn’t cleared.  Nonetheless, today’s advance is positive, so I’ll be watching for some follow through in the next couple of days.

FDX gapped through my intended trigger price today, but as per my swing trading strategy, I still took the trade but by a reduced amount.  Today’s move constitutes another breakout for this stock, and it’s acting quite well here with the jump in volume.  I’ll be watching for follow through and a continued move toward the targets in the days ahead.

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.

RTI  & JNPR stopped, HON removed (pattern failure), FCN & FDX & X added

Open Position Notes:

CVX bounced slightly on Friday but overall continues to hover not far from the breakout zone, implying it just might not be ready to run yet.  I’m leaving my stop loss as-is, and will be patient to see if this one will pick a direction or continue higher in the coming days.

Closed Positions:

RTI gave me a nice run and was acting like it really wanted to break down hard, particularly after last Thursday’s selling pressure.  I tightened my stop accordingly after the 1st Target had been reached, and was subsequently taken out on Friday with the market rebound.  I’m out of this trade with a very nice 6.2% gain in just a few days.

JNPR had shown plenty of relative weakness to the market in recent weeks, and attempted to really start to crumble on Thursday.  The rebound later in the session was an indication that it might be hesitating a bit, and I tightened my stop heading into Friday.  I was taken out very quickly after the open on Friday as the stock bounced sharply.  This ended up being a breakeven trade, which is the 2nd-best scenario for a failed pattern, so I’m out with no harm.

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.

TNB stopped, RTI 1st Target hit & stop tightened, JNPR stop tightened, HON added

Open Position Notes:

RTI turned sharply lower today with an excellent breakdown, taking it through my 1st Target where I booked 1/2 profits.  The stock continued lower on heavy volume, and looks poised for follow through here.  With this one having broken down and the potential which remains, I’ve tightened my stop tonight for remaining shares just in case it happens to rebound sharply as I don’t want to give back much.  Otherwise, I’ve left it a few percent to fluctuate if needed while waiting for follow through in the coming days.

JNPR broke down today with some heavy selling for the first half of the day as the stock moved well beneath broken support.  A partial rebound was seen in the afternoon though, bringing it up from its worst levels.  Nonetheless, today’s high-volume breakdown is encouraging, so I’ve tightened my stop again tonight in expectation of follow through.  If I don’t get it, my risk has effectively been removed with the breakeven stop I now have.

CVX pushed north of key resistance yesterday but light volume couldn’t produce follow through, and today’s market weakness allowed this one to slip a little deeper back into its recent trading range.  The pattern is still overall bullish, but it appears this stock simply isn’t ready to run yet.  I’m going to leave my stop as-is, because the risk here appears minimal and my stop was validated today as price came close but didn’t hit it.  Perhaps it can shape up in the next few days, but if  not my risk is defined.

Closed Positions:

TNB started out a little hesitant with an initial breakout failure, but the stock gained traction soon and ran nicely for me.  It moved steadily through my 1st Target, and neared the 2nd Target before finally getting taken down a bit with the market weakness today.  Last night I raised my stop for remaining shares just in case we saw a pullback kick in, and today that stop was triggered to take me out of this play for a solid 6% gain.  The overall trend is still up in this stock, but it needs some rest at this point so I’m going to keep it on the radar in case it sets up again.  Nice run though.

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.

CVX triggered, TNB & RTI stops tightened

Open Position Notes:

TNB continues to power higher and I really like how this one has behaved since its initial hesitation.  Today’s participation in the market upside took the stock to new recovery highs, and it is moving ever closer to my 2nd Target.  I am in only a 1/2 position at this point (having booked gains on half at the 1st Target), so I’ve left it some room to fluctuate but did tighten my stop tonight due to the close proximity to the 2nd Target.  A rest may be coming soon, so I’m not interested in giving much back should this one happen to turn around.  Looking good though and perhaps it can punch through the 2nd Target before a rest begins.

RTI turned lower today, exhibiting more relative weakness to the overall market.  This is an encouraging signal and I continue to believe this one is in the process of carving out a lower high on the daily chart.  I’ve tightened my stop tonight slightly, but otherwise am trying to give it a little room to breathe while waiting to see if it can head toward the targets in the days ahead.

JNPR bounced back up slightly today after yesterday’s breakdown, but it finished very close to the trend line it just broke yesterday.  Volume was also very light today on the bounce, which is another indication that the sellers are still in control.  I’m staying with my existing parameters here.

CVX triggered a buy this morning as it gapped through its trading range to break out of its large bull flag pattern, but light volume prevented the breakout from gathering any steam.  The stock drifted back down to the breakout level, closing 1 penny above it tonight.  This is still a setup I like not only the prospects for but also the limited risk, so I’ll stick with my existing trade parameters for now.

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.

MON triggered & stopped, RTI & JNPR triggered, TNB & JNPR stops tightened, CVX added

Open Position Notes:

TNB held up well today with some relative strength to the market as it tacked on another 1% on strong volume.  This stock continues to act well since breaking out last week, and has already reached the 1st Target.  I tightened my stop tonight (beneath today’s low) for remaining shares, but I still like the action here and the new highs made today.

RTI triggered a short sale today as it undercut the rising trend line at $19.35.  It was trying to make some downside progress, but the market stabilized and that likely prevented any meaningful headway from happening.  This one still appears to be starting a new leg down, so I’m sticking with my existing parameters on this trade for now.

JNPR has shown relative weakness lately and today was no different as it gave up 2% and made a new pullback low from the October high.  Today’s break of the rising trend line triggered a short sale for me, and the heavy-volume selloff which followed is very encouraging.  This appears to be the start of a new leg down, so I tightened my stop tonight for this trade and will watch for follow through in the next couple of days.  Good start.

Closed Positions:

MON triggered a short entry today as it broke the rising trend line off the recent low.  This appeared to be confirmation of the bearish wedge pattern which had formed beneath former support.  The stock rebounded slightly from there, but was still negative on the day.  Mid-afternoon, the company reaffirmed their guidance, which sent the stock flying.  I was quickly stopped out of the trade as the stock moved quickly through my stop loss and continued higher.  While on the one hand this trade could have been worse (if the stock were halted or if my stop were set higher), it is certainly frustrating to have fundamental news released unexpectedly and get such an adverse reaction.  My view is that unscheduled news tends to work out over time, so this adverse headline is likely to be offset by a favorable headline someday in another stock.  I am out of MON with a 2.6% loss, and will leave this one alone now that it is back in rally mode after the failed breakdown and big news.

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.

CLI stopped, TNB 1st Target hit & stop raised, MICC removed (pattern negated), RTI & JNPR added

Open Position Notes:

TNB pushed higher again today to build on last week’s breakout.  Today’s strength took it through my 1st Target where I closed 1/2 my position for a 4.6% gain.  I’ve tightened my stop for remaining shares tonight while still allowing some room to fluctuate, so we’ll see if it can edge higher toward the 2nd Target in the days to come.  So far, so good.

Closed Positions:

CLI triggered my stop loss today as the market strength allowed for a reversal in this stock despite last week’s technical break of support.  This is known as a head-fake, and there are a lot of them found in range-bound conditions like we’ve seen in recent weeks.  They can be frustrating, but they are simply a part of trading so we manage them as best we can.  I’m out of this trade for a 3.3% loss and will keep this one on the radar in case it turns back down to test support in the next couple of weeks.

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.

LTD stopped, CLI triggered, MON & MICC added

Open Position Notes:

TNB continued higher in early trading on Friday as it pushed to new recovery highs after last week’s breakout.  However, profit-taking brought it down from its best levels and it spent the remainder of the session near Thursday’s closing prices.  It finished the day down slightly, but volume contracted as well, which is acceptable.  Light-volume, shallow pullbacks are far easier to endure, and I still like this setup so I’ll stick with my previously-adjusted stop heading into Monday.

CLI triggered a short sale as it undercut the low end of its trading range.  It didn’t move much lower before it bounced, but the upside was very muted from there.  By the end of the session, it was only a short distance from the trigger price.  It’s still too early to know for sure, but the lack of a big rebound on the failed break of support implies that it could come knocking again with another attempt at a support break.  I continue to like this setup and will stick with my existing trade parameters for now.

Closed Positions:

LTD triggered my stop on Friday as it moved back up to make a new high on the week.  The breakdown from the wedge simply couldn’t find follow through, and the market rally helped it stabilize after the technical trend line break.  So I’m out of this one with a 3.8% loss.  Not fun, but I did like the risk/reward on the trade and it simply didn’t crack.

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.

TNB stop raised, LTD triggered, OLN removed

Open Position Notes:

TNB finished poorly on Wednesday after a breakout attempt, and it wasn’t looking promising last night with the downside reversal.  The stock did hold above support though, and today it jumped back up to make new recovery highs on a huge spike in volume, which is really encouraging.  This took the trade from the red to the green, and it’s looking much better after today’s action.  I tightened my stop tonight in order to reduce risk in the event of another reversal, but otherwise will be watching for some follow through in the days ahead.

LTD triggered a short sale today as it undercut the lower trend line of the wedge pattern I had been watching, and the stock spent a fair amount of the day in negative territory.  However, the widespread strength helped this one to stabilize, and it finished the day back above the trend line.  This one did underperform today by a considerable amount, so I’m content to stick with my existing stop and see if it makes an attempt to weaken again in the coming days.

Closed Positions:

No closed positions.