Quick Summary:
SPY still in "buy the scary dip" mode as it remounts 50dma again. Breakout of highs still in play. Looking for pullback entry in focus list stocks, many of which come from our earnings breakouts list.
Video Analysis:
https://youtu.be/D-bQMs-KzqgI 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 continues to thwart pullbacks with a fantastic remount over the 50 dma. Until proven otherwise we continue to expect a test and possible break to all-time highs above $212.
The game plan is to monitor the market in the morning and look for pullback entries in our focus list stocks. If the market gaps up, we need to be careful not to chase and will have to hope for an intraday pullback for entry.
Trades
Still holding JNUG and ABMD.
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 weeks videos.
Focus List
We are looking for moring weakness for entry.
Focus list: TZOO, ORLY, HAS, BLDR, DPZ, AMZN, JUNO, ATRA, CYBR, QLYS, FEYE, BLUE, AAPL, MNST, TWOU, ULTA, LEN
Second Qtr Earnings Breakouts: CE, SKX, GPRO, AMZN, TZOO, NFLX, MDSO, DNKN, HAS, GIMO, ORLY, RCII, RTEC, DPZ, GPRO, 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)
