Quick Summary:
SPY showed strength today moving to the top of the range. Discussion on stop gunning. Commodities pullback near entry levels. The AAPL new high setup. Current positions BIS, TWTR, BWLD, SPXU.
Video
http://youtu.be/KGk6XQZuth8I 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.
Note on Stop Gunning (reprinted from email alert)
I have received a few questions about TWTR this morning. Some of you set your stops around $45.70-90 and were stopped outIn today's moring report I mentioned setting it around $45.50. It got down to $45.57. I also have a mental stop in place, not a hard stop, so if I feel there is stop gunning going on, I will wait a bit to see if the level holds. In this environment where market makers are not even trying to hide stop gunning, you have to be careful.This is why I give stop ranges and not a specific number. First, your stop depends on your position size and how much you are willing to risk and second, you don't want a bunch of people at the same exact level.The cat and mouse "stop game" with market makers/algos is the most frustrating aspect of trading. If you do get stopped out, take comfort in the fact that you have taken only a small loss and it does not impact your account much.
Indexes and Game Plan
SPY moved to the top of the range today. We continue to monitor for range breakout, which could set the next momentum fun for the market. The volume pattern is still negative so in the meantime we continue with our strategy of quick profits, small losses and a focus on the strongest stocks from strong sectors and earnings breakouts.
We are in the midst of earnings season and will start to build an earnings breakout watch list, as we did last season.
Trades
I entered long BIS (short IBB/biotech) and still holding TWTR, BWLD and SPXU. TWTR and SPXU are close to stops, and will be monitored closely tomorrow (see video).
2015 Trade Results: http://bit.ly/161Yl4w
Focus List
Commodity stocks and etfs pulled back today. We will watch tomorrow for entry levels. AAPL broke to new highs and we will look to enter on weakness.
AAPL,BWLD,TWTR,RMD,QSII,X,GOOGL,UCO,DIG,NUGT,WBAI,LULU,HSIC,WLL,GTLS,TX,OAS,CBT (see video for setups and strategy)
Q1 2015 Earnings Breakouts:
TWTR,LNKD,CBM,MTSI,XLS,GLUU,DATA,ORLY,LE,CYN,INFN,RMDBWLD,APP,QSII,X,AN,BSET (see video)
Sector Watch
Key sectors include commidities (gold miners, energy, oil, steel, chemicals), biotech, retail and semis. Semis (SMH) remounted the 50dma after showing weakness of late. We will monitor for follow through.
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
(twitter.com/PaulJSingh)
