Quick Summary:
SPY continues down move after the 50 dma breakdown. Current positions JNUG, BIS and AMZN. Tight focus list for tomorrow: XLE, GPRO, TWOU, AMZN, TZOO.
Video Analysis:
https://youtu.be/0ODXfxEP074I 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 it's down move after the break of the 50 dma. Stochastics are still not oversold (currently at 45). We will not look to get aggressive for bounce plays until stochastics get under 20.
The game plan is to monitor earnings breakouts and stocks holding up well. We also will look for select shorts in biotech and other sectors if there is a bounce. We also may soon get an opportunity to enter energy.
Trades
Still holding JNUG, BIS and AMZN.
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
Small focus list for tomorrow.
Focus list: GPRO, XLE, TWOU, AMZN, TZOO
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)
