Quick Summary:
SPY pullsback in what could be a retest of old highs. We continue to stalk focus list stocks for value and good reward to risk entry levels. India still our favorite sector showin the "Apple setup". Stopped out of X, holding FEYE (s), BIS, NUGT, TWTR.
Video Analysis:
http://youtu.be/OFjo8d6TdaQI 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. In today's video, along with normal market analysis, I talk about the importance of trade and risk management in becoming a successful trader, along with getting value and not chasing setups in overbought markets.
Indexes and Game Plan
We are starting to get the feel of a rounded pullback that will test highs around $209. I know for some dealing with pullbacks is tough, but that is actually the best thing that can happen for us. The market will work off overbought conditions, our setups will "set up" and give us momentum for the next leg up.
The game plan is to stalk our focus list looking for good value with low risk, high reward setups.
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 X. I am still holding TWTR, BIS, NUGT, FEYE (s).
2015 Trade Results will be updated soon: http://bit.ly/161Yl4w
Focus List
The focus list (see video for strategy):
TWTR, UCO, INDL, LNKD, TX, VA, RMD, BLUE, BWLD, AAPL, NFLX, AMZN, GOOGL (see video)
Q1 2015 Earnings Breakouts:
Sector Watch
Sectors in play for trades include crude oil and India: UCO and INDL (see video)
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
(twitter.com/PaulJSingh)
