Quick Summary:
SPY puts in a failed breakout and is back in chop range. Focus list keys in on strong stocks on big down day. Still holding JNUG, DIG, AMZN and TZOO.
Video Analysis:
https://youtu.be/XcYiQt8jQKMI 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
So much for lack of volatility during the holiday week . . .SPY puts in the *failed breakout* and now we are back in that trading range chop. Right now it's too early to short until we get a trend or a bit of a bounce. For us to go short today we would need to have been above $211 to get a good reward to risk ratio.
Even with the negative day there are pockets of good setups. That is what we are keying in on. Stocks that showed strength today either with breakouts or even just breaking even.
The game plan is to take a cautious approach but still be willing to take a few small positions if the setup is there. Possible SPY short if there is a small bounce that gives us a better risk profile.
Trades
Still holding DIG, JNUG, TZOO and AMZN (see video for stop strategy).
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: CSLT, SEDG, MDR, WBAI, VEEV, MBLY, AMBA, BLUE, DSKY, QIWI
Some other stocks that were strong today but not near entry: CLLS, BSQR, AAOI
NEW Junk Stock List: VCTY, PTBI, PFNX, TRIL, ZEUS, SCHN,
NEW Parabolic Shorts List: CALM, CMCM, EBIX, ZEUS, SHAK, TCX, EHIC, LIFE
Second Qtr Earnings Breakouts: CE, SKX, GPRO, AMZN, TZOO, NFLX, MDSO, DNKN, HAS, GIMO, ORLY, RCII, RTEC, DPZ, GPRO, BLDR, ORIG, MOMO, RRGB, TTWO, QIWI, NES, Yoku
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
Commodity sectors gold miners, energy, aluminum and coal. Financials, biotech, software internet, gaming and cyber security.
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)
