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.

SM & ANR closed

Open Position Notes:

MDR opened higher this morning and reached a new recovery high since last month’s pullback, but failed to maintain its strength and instead reversed to finish lower on the day.  The turnaround took it to a new multi-day low, which is short-term bearish despite the light volume which accompanied today’s reversal.  I noted here last night the reluctance this one has been showing and subsequently raised my stop.  Tonight this one is sitting just a short distance from that stop, so I could get checked out as soon as tomorrow.  If so, I’ll take the small loss and move on.  Otherwise, this one will need to get back on the northbound train if it wants to continue its uptrend, as right now it’s in danger of producing a lower high.

Closed Positions:

SM pushed to a new high yesterday, hitting Target 1 in the process.  Last night I raised my stop for remaining shares in case it happened to turn around, and today the stock reversed to trigger that stop.  Ultimately, it moved back beneath the breakout zone, which suggests a breakout failure.  I’m out of this trade with an average gain of $2 per share, or a 2.6% gain.

ANR also has shown some hesitation to move higher since triggering a buy, and I noted that here last night and raised my stop because of it.  Today the stock turned lower to trigger my stop, taking me out for a 2.4% loss.  This is a failed pattern and 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.

SM Target 1 hit, all stops raised

Open Position Notes:

MDR made a new recovery high today, but backed off to finish lower by a few cents.  The net loss on the day was nothing to be alarmed by, but I don’t like the hesitation this one has shown since triggering a buy last week.  New highs are just a short distance away, but with this one struggling to gather momentum, I’d like to see it hold up in this area.  I’ve raised my stop tonight to just beneath the breakout area, as a test of that level shouldn’t result in much of a break (if a test does occur).

SM continued higher today to reach a new high and push past Target 1, where I closed out 1/2 my position for a quick $3 gain or 4% profit.  I’ve raised my stop again tonight for remaining shares, and will look to lock in a profit should this one happen to pull back before hitting Target 2.  So far though, it’s acting well, and I’ve given it some room to breathe for that reason.

ANR triggered a buy yesterday when it pushed past $61, but today the stock was again unable to hold that level even after clearing it intraday.  This one is hesitating to confirm this bullish consolidation, so I’ve raised my stop tonight in order to reduce my risk in the trade should it happen to roll back 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.

ANR triggered, SM stop raised

Open Position Notes:

MDR waffled back and forth today, unable to gather any lasting momentum.  In the end, it finished positive by a few cents, but made no meaningful headway.  I’m sticking with this one while waiting to see if it can continue higher since last week’s trend line break.  New highs aren’t far away, but the buyers will need to produce them.

SM attempted to stretch its legs a bit today with a morning spike higher, but a lack of volume prevented follow through, and the stock peaked about 1% shy of Target 1.  It backed off slightly to finish down just a few cents.  Today’s move really just constitutes a day of rest for the stock, which isn’t bad to see after a solid breakout like we saw Friday.  I’ve raised my stop tonight slightly while still giving this one some room, at least until Target 1 gets hit.

ANR triggered a buy this morning as it pushed past resistance at $61, but the upside was limited and ultimately the stock fell back to fill the morning gap, finishing only slightly positive on the session.  Many stocks lacked directional commitment today, so with that being the case, I’ll cut this one a little slack.  I would like to see it reclaim the breakout zone again soon.

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.

MET stopped, ANR & CCL added

Open Position Notes:

MDR gained a little ground on Friday, despite spending the session confined to a narrow range.  Thursday’s highs and lows were respected, marking an inside bar on the daily chart for Friday.  These often prove to be continuation bars, and with this stock still acting well technically, I’m encouraged by that.  I’m going to leave this one some room to fluctuate in case it needs it, so I’ve yet to make an adjustment to my stop.

SM powered past the breakout zone again at $75 on Friday, and this time it stuck.  The stock showed some excellent intraday momentum as it pushed to new 52-week highs, and even though it finished off its best levels of the day it was still an impressive advance with volume confirming the move.  I’m planning to wait for further progress before making any stop adjustments, so as to give this one some room to fluctuate in the meantime.

Closed Positions:

MET bounced past the prior week’s high on Thursday, but backed away, suggesting it had successfully tested resistance.  However, on Friday the early market strength carried this one higher, pushing it through my stop to take me out of the trade with a minor 1.7% loss.  Although it did pull back slightly later in the day from its best levels, it had still taken out resistance and therefore I had no technical reason to stay with the trade.  I’m out for now and will wait for a new pattern to emerge before considering 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.

SM triggered

Open Position Notes:

MET bounced just enough to briefly clear last week’s bounce high, and then backed off to finish negative on the session.  I’m encouraged by that kind of action, as it would have triggered some buy stops and then trapped those buyers with the pullback which happened later in the day.  This one is sitting right near my entry, so it still needs to prove itself, but I like today’s successful test of resistance, so that’s a start.

MDR continued higher for a little while today, but ultimately drifted back to last night’s closing price to finish flat on the day.  I’m going to stay with my existing stop loss on this trade and give it a bit more time before considering an adjustment.

SM triggered a buy today as it hit the $75 level, but the volume wasn’t enough to push it over the hump and it subsequently pulled back into the base to finish unchanged on the day.  I’ve got a stop in place beneath Wednesday’s low, so I’m going to leave it as-is and see how this one acts if and when it’s able to make another attempt at a breakout.

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.

MDR triggered, RCL stopped, SM added

Open Position Notes:

MET bounced today alongside the strong market, although it held beneath last week’s bounce highs and today’s volume was very light.  Additionally, it finished off its highs of the session, which showed little conviction on the part of buyers.  This one may still rally further and stop me out, but for now I’m sticking with it and keeping my original stop in place.

MDR triggered a buy today as it cleared the trend line at $25.10.  Price finished above that level with some afternoon strength, although volume could have been more impressive.  I’m going to stick with this one for now, as I still like the setup and perhaps greater participation (volume) will arrive in the coming days.

Closed Positions:

RCL rallied today to hit my stop loss, taking me out of the trade with a 3.7% loss.  To see key support get broken and then defended is disappointing, as this stock has been grinding its way lower for many weeks and the technical breach appeared likely to invite some more intense selling.  Nonetheless, I won’t fight it but will keep it on the radar in case it returns to key support.

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.

RCL & MET triggered, MDR added

Open Position Notes:

RCL triggered a short entry today as it undercut key support at $40.40, but the weakness didn’t last long and this one reversed higher with the broad market.  It finished positive on the day, but volume remained light.  My stop is still in place, and I’m leaving it as-is heading into tomorrow, as today support was initially defended but I’d like to see how it acts if/when another test occurs.

MET triggered a short entry today as it gapped slightly through my intended entry (opening at $44.58 vs. $44.70 trigger).  The stock worked its way lower from there, and despite some market strength, this one only rebounded partially later in the day.  I like that it finished lower than the open, and will be watching for follow through in the coming days.  Today’s relative weakness is encouraging, but today’s only the start of this trade so I’ll wait and see what happens.

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.

RCL & MET 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.
PXP stopped

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

PXP triggered a short sale this morning as it gapped through my intended trigger price by just over 1%.  As per the swing trading strategy I abide by, I took only 1/2 a position for this trade due to the gap.  Anytime that occurs, the risk/reward profile for the trade is altered from its original structure (adversely), and therefore I reduce my size.  The stock attempted to trade lower initially, but reversed back up to stop me out for a 4.2% loss.  This is the 3rd consecutive swing trade which has triggered and stopped on the same day, which is a testament to the volatility of the current environment.  I’ll wait for a new pattern to emerge in this one before considering 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.

PXP added

Open Position Notes:

No open positions – 100% cash.

Closed Positions:

No closed positions.