Quick Summary:
SPY closes above the 50dma. Key is holding this level tomorrow. Entered NGUT. Stopped out of IPHI. New earnings breakouts, along with oil and steel setups. Look for pullback entry tomorrow in many strong setups.
Video
http://youtu.be/lKc08XVxt9AI highly recommend that you watch the video, rather than just read the notes. I talk about strategies, entries and exits more in depth in the video, yet short enough that they are only 5-10 minutes long.
Indexes and Game Plan
SPY continued off yesterday's hammer formation (as did many stocks that formed hammers) closing just above the 50 day moving average. This is a key level. Tomorrow we will watch for follow through and enter long if the 50dma holds.
If it does not hold and we close below the 50 dma, we are back range bound between the 50 and 200 dma and more volatility can be expected.
The game plan is to monitor SPY at the key level and look for intra-day weakness to enter one of the many strong setups in earnings breakouts, focus list, UPRO and oil/energy.
We are in the midst of earnings season and will start to build an earnings breakout watchlist, as we did last season.
Trades
Stopped out of IPHI.
Entered NUGT on the test of the 20 day moving average. Target is in the $20-22 range, stop $16.40-16.75.
Results: http://bit.ly/161Yl4w
Focus List
Focus list (see video for setup and entries):
For tomorrow i am casting a wider net that normal (usually only have 5-10 on focus list) as we watch for pullback entries in strong setups. This list also has our steel and energy focus list stocks:
LULU,WBAI,BWLD,YELP,ULTA,QSII,X,WOR,TX,NANO,RTEC,AN,INFN,RMD,NUGT,GOOGL,LOCO,UCO,DIG,HSIC,NTST,SSI,ALE,P,OAS,WLL,GTLS,CBT,AAPL (see video)Q1 Earnings Breakouts:New Additions:NANO, RTEC, ANBSET, QSII, CYN, INFN, RMD, NFLX, SBUX, ABMD, TUP, X (see video)
Sector Watch
Oil and Energy broke out today. We will watch closely for pullback entry. UCO, DIG and ERX (3X leverage), along with individual stocks like WLL and OAS.
Sectors of note: Energy, Emerging markets/Brazil/India, Biotech, Retail and Gold Miners all strong, with homebuilders leading.
Last Quarter Breakouts
This is the earnings breakout list from 2014 4th quarter. We continue to monitor.
TTWO, CALD, COUP ACHC,RFMD,ACCO,AMED,X,TQNT,AN,TRNX,MSG,RCPT,VDSI,BCOR,CATM,BWLD
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.New subscribers and trial members please leave me any feedback/comments in the comments, via email (singhjd1@aol.com) or twitter
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