Quick Summary:
SPY pulls back off highs. Market rotation with many leaders getting hit hard. Still stalking entry for energy and gold miner adds. FEYE reports earnings tomorrow. Today's trade ABMD.
Video Analysis:
Along with our normal analysis, today's video talks about swing trading and not over trading for the sake of making trades.
https://youtu.be/QmuAff7PsVwI 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 continued pullback from highs toward the 50 dma. Under the hood market is showing rotation and weakness as many strong stocks pull back hard.
The game plan is to get less aggressive, occasionally taking shots at good setups. We are still stalking energy for entry, and looking to add to JNUG.
Trades
Today's trade entry ABMD.
Still holding JNUG and FEYE.
Note: JNUG is not our typical swing trade as we build positions and even average down if prices go lower. This is a small position that allows me to enter more on deeper pullbacks without getting stopped out. This setup has been discussed in the last two videos.
Focus List
Tomorrow we continue to look to build a position in JNUG, DIG or UCO. Other focus list stocks include EA, LEN, MNST, ULTA, TZOO, ORLY, ANAC
Today's breakout add: GPRO
Second Qtr Earnings Breakouts: CE, SKX, GPRO, AMZN, TZOO, NFLX, MDSO, DNKN, HAS, GIMO, ORLY, RCII, RTEC, DPZ, BLDR
Energy focus list: TK,OII,FTI,NOV,XEC,CRZO,ESV,NBR,OAS,VLO,CLR,OIS,WNR,FANG,SCTY,DVN,CVX,DRQ (see video)
Sector Watch
Energy and Gold for long term big swing trades. Cyber security, medical devices, biotech, data storage, internet.
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)
