Quick Summary:
Market pulls back at extreme overbought conditions. Hot sector cyber security pulls back hard, possible short setup. Stopped out of AU, still in TWTR, NUGT, X and FEYE (short).
Video Analysis:
http://youtu.be/ySfVgt44GpII 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
The Market gave us a well needed, healthy pullback today after an extended 13 point run since early February. As long as key level hold (old high, pivot high and 50 dma) we remain bullish, though we do expect a bit of a pullback this week.
The game plan is to stalk focus list stock pullbacks deeper than some of the shallower pullback we have been playing, and get too value and reward to risk. Stocks come from 2015 earnings breakouts, commodities, retail, semi and biotech. Possible short opportunities in parabolic cyber security stocks.
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 was stopped out of AU today, and still holding TWTR, NUGT, X and FEYE (short).
2015 Trade Results: http://bit.ly/161Yl4w
Focus List
The focus list (see video for strategy):
AN,BWLD,LNKD,NANO,OAS,UCO,DIG,GTLS,WOR,GOOGL,HABT,BLUE,KITE,FEYE,PANW,FSL (see video)
Q1 2015 Earnings Breakouts:
Sector Watch
Key sectors include biotech, cybersecurity, commodities, semis, retail, and casinos.
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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