Quick Summary:
SPY continues within range. TSLA entry with video analysis on positions sizing/risk. Focus list stocks to key on: NUGT, GWPH, GPRO, LULU, TTWO, BABA, LMT. Retail sector breakouts.
Video
Today's video has important information about position sizing and risk, along with entering on gap down with TSLA and how to manage the risk.
http://youtu.be/gojVDZtjC4Y (13 minutes)Note: I highly recommend that you watch the video if you can, rather than just read the notes. I talk about strategies more in depth in the video. I try to make them short and to the point with little non-essential information.
Indexes and Game Plan
Indexes looked like they may roll over at the beginning of the day but recovered and still trade within range. Nothing has changed in our analysis and we continue to watch the old high for breakdown/support, along with the gap fill around $200.
The game plan continues to be trade conservatively and focus on individual equities for long positions.
Today's Trades
$TSLA entry today, 100 shares at average price $247.20. Both intra-day and Report videos discuss positions sizing/risk along with the gap down entry.
I continue to hold $BITA. $BITA pulled back today and trades within the post breakout range.
Sector Watch
Gold minors pulled back past the discussed gap level. A longer term "W" pattern could form. We will watch over the coming days/weeks.
USO did little today.
A number of retail sector breakouts today (PETM, LOW, TGT, JACK)
Breakouts
I am keeping a close eye on high tight flag setups TQNT, AMED, BWLD and TTWO (see video).
With earnings season coming to an end, we continue to watch the attractive earnings breakouts we collected. The good ones are forming ranges and some will become the next momentum players.
TTWO, CALD, COUP ACHC,RFMD,ACCO,AMED,X,TQNT,AN,TRNX,MSG,RCPT,VDSI,BCOR,CATM,BWLD
Focus List
BABA is in no man's land right now as it did not close above the filled gap, and has another gap fill around $106. So we watch the $106 and $109 levels.
Yesterday's new additions: POT, MOS, LMT, GWPH (see video for entry strategy)
GWPH is a breakout remount setup. Today pulled back strong to entry level/moving average. Will wait and see how it plays out.
POT and MOS broke out with Ag sector. Both our now above the moving averages and formed inverse hammers. Wait and see.
LMT has pulled back to old high and has entry in $184-185 with tight stop and target around $190. Still applies.
The overall focus list: SOHU,SPLK,WUBA,MEG,BABA,CALD,CYBR,BITA,TSLA,GNC,BIDU,LULU,WLL,GPRO,MNST,NILE,PTX
Stocks keying in to start the week still are at the forefront of the list:
BABA, CYBR, TSLA, NILE, PTX, GPRO, WLL, WUBA, SOHU
The above stocks require a bit of pullback and ACOR added to the list near entry level.
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator Way and How to Analyze Your Swing Trade Results It is important to know these setups and rules if you trade off the Report.
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