Quick Summary:
SPY continues pullback. Many stocks nearing 50 dma support levels. Biotech bounce setup. Possible crude oil pullback short in play. Today entry BIB and MNST, exit BWLD.
Video Analysis:
https://youtu.be/87fezTQeR6QI 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 gapped down this morning, recovered and formed a hammer intra-day before closing at the middle of the range. Many stocks hit pullback entry levels near the 50 dma, but we need to be cautious, especially if already overweight longs.
The game plan is to monitor the market, watch for remount of 50 dma or pullback to 200 dma, and selectively look for entries. If in doubt, stay in cash.
Trades
Entered MNST and BIB. Stopped out of BWLD (see video)
I am still holding AAPL, TWTR, LOCO, BRZU.
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2015 Trade Results will be updated soon: http://bit.ly/161Yl4w
Focus List.
A number of stocks nearing 50 dma support levels.
Focus List: SCO,MNST,GOOGL,GWPH,LNKD,HD,CYBR,PANW,BIB,EA
Biotech short list (short term volatile): BIS,ZFGN,LGND,AMAG,NLNK (see video)
Biotech long list: ONCE,BLUE,AAVL,BLCM,FLKS,OHRP,PETX,FOLD,UTHR,JUNO (see video)
Q1 2015 Earnings Breakouts:
Sector Watch
Crude oil possible low risk short setup. Biotech bounce setup.
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)
