Quick Summary:
SPY closed below key 50dma level. Now 200 dma is in play. Only get aggressively bullish on a confirmation move. Took profits in FEYE short, entered UCO, AAPL and BRZU. Still holding BWLD and TWTR. Video goes over trade management strategy.
Video Analysis:
http://youtu.be/09Z120kJ7PYI 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 obliterated the 50 dma today, gapping down and closing over a point below the moving average. Stochastics are now at oversold levels, so we mae see a bounce here, but the next major support level is now in pplay-the 200 dma at $200-201.
While many stocks are nearing entry levels, it is best to remain cautious until we know the pullback is over. If SPY remounts the 50 dma on strong volume, that will be our cue to get aggressively bullish.
The game plan for now is to manage current positions, monitor the market and possible take a few shots at stocks near entry levels.
Trades
I took profits in the FEYE short position. I am still holding BWLD, TWTR and BIS. I entered UCO, AAPL and BRZU with the "taking stabs at oversold setups" as discussed last night.
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:
DATA,TWTR,BWLD,LNKD,AAPL,RMD,AMZN,NANO,UCO,BRZU,VA,BOX,TX,HABT,GOOGL,AKRX,JMEI,JUNO,ONCE (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
(twitter.com/PaulJSingh)
