Quick Summary:
SPY tests 20 dma and closes strong. Pullback still in play. Entered LNKD at bottom of post breakout trading range. Still holding all other positions. Focus list remains same with addition of JUNO.
Video Analysis:
http://youtu.be/1UTKpOjnq-0I 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
As expected, that rounded pullback formation tested the 20 dma and got close to the old highs before recovering later in the day. This pullback allowed us to enter LNKD at the bottom range we have been stalking. Though the market recovered, pullback levels are still in play and we must remain cautious and not get to aggressive with taking on too many pullbacks setups here. We look to take one or two high quality setups and monitor the key levels.
Take note that more than a few strong stocks pulled back hard today. Often there is a first wave of this and others will follow as the market pulls back.
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 added LNKD in today on pullback to the bottom of the post breakout trading range.
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) remains almost identical to yesterday with one addition JUNO:
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)
