Quick Summary:
Remount of index 50 dmas positive sign for late December rally. Focus list AGIO,SGMO,ESPR,SIG,VA,BABA,UA,NFLX,TSLA,HABT. Will look for good entry in one or two of these. Current positions UCO, CYBR, Z and TQQQ.
Video
http://youtu.be/SOI0fx3VXMMNote: 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
The indexes bounced strong today and remounted the key 50 dma on strong volume. This is the type of signal we have been waiting for to get long for the late December year end "Santa Claus" rally. So far what we talked about at the start of December has played out, with the mid December volatile pullback, so let's see if our late December prediction (based on historical data) plays out.Notice the strong volume today, remount of moving average and stochastic crossover in oversold territory on the QQQ chart.
The game plan is to look for one or two solid long setups to play the late December rally, especially if you currently have no positions.
Today's Trades
Current positions: UCO, TQQQ, CYBR and Z.UCO was volatile today with strength for most of the day before pullback back for a small gain. Postive volume continues to show strength, even with the volatile price action.TQQQ remounted 50 dma.CYBR bouncing off 50 dma.Z just below 50 dma but did print a hammer candle.
Sector Watch
All sectors showed strength today.
RETL,USO,XLE,EDC,IBB,INDL,BRZU, XLF, NUGT .
Breakouts
The breakout list showed strength across the board.. BWLD is starting to show signs of being the next big momo.
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
Tomorrow I will watch closely for entry in one or two of these focus list stocks.
Focus list: AGIO, SGMO, ESPR, SIG, VA, BABA, UA, NFLX, TSLA, HABT (see video for entry strategy)Focus list to start the week:
CMG,COUP,VEEV,Z,MNST,VA,ZEN,VTAE,SIG,BABA,UA,LDOS,PTX,LNKD,CYBR (see video for setups/entries)
focus list biotech: ATRA, ESPR, SGMO, MDVN, AGIO, ACHN, RGLS
focus list retail: NILE,TIF,SIG,OUTR,HABT,GES,MUSA,ARO,ULTA
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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