Quick Summary:
Consolidation day for indexes. New trade entry VEEV. Focus list: cybr, meg, bidu, sig, z, habt, veev, fosl, bvn
Video
http://youtu.be/FDtzh7FOAwUNote: I highly recommend that you watch the video if you can, rather than just read the notes. I talk about strategies, entries and exits 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
All indexes were flat today and consoliating within range. The game plan has not changed. SPY has completely recovered and is back within it's range near highs. IWM is right at the 20dma and needs to hold. QQQ is lagging and still needs to bounce to recover Monday's down move.
I have moved 3 stocks from their sector lists into the focus list: HABT, SIG and BVN.
The game plan is to continue to watch the indexes for clues and keep an eye on this short watchlist. Those looking to trade can look to these stocks.
Today's Trades
I continue to hold Z (entry $115). The stop for Z is in the $109-110 range.I entered VEEV today (entry $30.64). It is already up nearly 1 point. Target is in the $33-34 range. Stop under breakout bar in the $29-29.60 range.
Sector Watch
Not much changed in the sectors we are watching (Biotech, retail, banks emerging markets/India/Brazil, Oil/Energy).
2 retail and 1 brazil stock were added to the focus list from our sector stock watchlists.
RETL,USO,XLE,EDC,IBB,INDL,BRZU, XLF, NUGT .
Breakouts
TQNT, ACCO, AMED, TTWO are favorites right now. FOSL has recovered and near good entry level.
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
The focus list consolidated for the most part today. Stocks near entry levels include:
CYBR,MEG,BIDU,SIG,Z,HABT,VEEV,FOSL,BVN (see video for entry tactics)
SIG, HABT and BVN are new additions.
focus list biotech: ATRA, ESPR, SGMO, MDVN, AGIO, ACHN, RGLS
focus list retail: NILE,TIF,SIG,OUTR,HABT,GES,MUSA,ARO,ULTA
focus list: BITA,TSLA,Z,MNST,SOHU,COUP,SPLK,CYBR,POT,PTX,LMT,MEG,BIDU,GWPH,BABA,VEEV,WUBA
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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