Quick Summary:
SPY gives up gains and forms inverted hammer. Energy pulls back. Took profits in BIB. Looking to enter energy.
Video Analysis:
Note: First quarter trade results are complete and spreadsheet is updated. Feel free to email (Singhjd1@aol.com) your thoughts and analysis. I will have my own analysis later this week. Your feedback will let me know topics I should discuss.
Note 2: In today's video there is discussion about chasing moves, being patient and inverted hammers/hammers.
https://youtu.be/2JhDja_U3YAI 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 looked to be continuing Monday's move before closing poorly and forming an inverted hammer candle. Many stocks also showed this formation and closed off highs and near intra-day lows. This creates the expectation of a minor pullback.
While we are watching for a pullback, we are still overall bullish. Things look good under the hood (see video for discussion of IWM and strong vs weak sectors).
The game plan is to stalk energy for a good entry, and look for energies in our small focus list.
Trades
I took profits in BIB.
Current positions: LOCO, AAPL, X, MNST.
2015 Trade Results: http://bit.ly/161Yl4w
Focus List
The focus list remains the same with the following additions:
GGAL, BFK, CIB (Brazil banks), GLN
New Additions Monday: FLKS, FOLD, RGEN, KMX, EXPE, MTH, LEN, DHI, SPF, RYL (see video and talk of homebuilder sector)
Focus List: MNST, GOOGL, XON, SHAK, GWPH, X, P, CYBR, PANW, AMZN, EA, HD (SEE VIDEO)
Q1 2015 Earnings Breakouts:
Sector Watch
Keying in on Energy, Biotech, Shipping, Homebuilder and Emerging Markets.
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)
