Quick Summary:
SPY bouncing under 50 dma. If this is a weak bounce we will look to add shorts later in the week. Current positions BIB, MNST, LNKD, TWTR, AAPL, LOCO, BRZU.
Note: Today's video has a discussion of position size as a way to diversify positions and widen stops. Also thoughts on "trade idea" alerts. If you are interested, email me with your thoughts.
Video Analysis:
https://youtu.be/kZuY0I5n288I 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
Last week was a game changer as the market stalled before testing the $212 high and pulled back hard, breaking the 50 dma. We are not in the midst of a weak pullback up to that level. We continue to monitor to see if that level remounts or fails and we get a test of the 200 dma.
On the continuation of a weak bounce we may take a stab at a few short setups. Late tonight or tomorrow I will send out a shorts watch list to monitor during the week.
The game plan is to monitor the market, watch for remount of 50 dma or pullback to 200 dma, and selectively look for entries, both short and long.
Trades
I am holding BIB, TWTR, LOCO, AAPL, MNST, BRZU, LNKD
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, X
Q1 2015 Earnings Breakouts:
Sector Watch
Crude oil possible low risk short setup. Biotech bounce setup (current position).
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)