Quick Summary:
More chop as SPY tests the bottom of the range before closing at about breakeven. Still holding GPRO, JNUG, TZOO and AMZN. Tight focus list as market chops and most momentum plays in middle of ranges.
Video Analysis:
https://youtu.be/p44F0lCBLfMI 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 pulled back to the 50 dma and reversed, almost forming a hammer. Note that this hammer is not significant as we are still range bound between $208 and $212. Until one of these ranges breaks we are in "chop" mode and not making any aggressive moves.
The game plan is to play conservatively and key in on stocks with earnings catalysts or low risk patterns. We continue to monitor earnings pullbacks that are setting up and focus list stocks. We continue to look for a good entry in energy and oil.
Trades
Still holding JNUG, GPRO, TZOO and AMZN (see video).
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
Focus list stocks to key on: ELLI, HABT, MDSO, NFLX, SHAK, IMH, ABMD, TZOO, ULTAFocus list: GPRO,RTEC,ABMD,HAS,NFLX,TZOO,EA,BABA,MRC,UCO,CYBR,JUNO,PANW,ULTA,SHAK,VDSI,VLTC,MTU,XLF,SMFG,GS,V,ICE,ZION
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
Financials are picking up and a few have made our focus list for the first time in 2015. Energy and Gold for long term big swing trades.
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)
