Quick Summary:
Market pulls back but holds the 50 dma. MBLY entry. Stopped out of DIG, QIWI. Still holding AMZN, YELP and JNUG. Biotech analysis.
Video Analysis:
https://youtu.be/1svYXsMvn5AI 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, as did IWM. While IWM looks like a standard low volume pullback, SPY printed yet another distribution day (down move on relative high volume). This market has bought dips, so even if we get what seems like a continuation down move tomorrow, we keep our eyes and ears peeled for a bounce.
The game plan is to take a cautious approach but stike at good setups that reach entry levels.
Notice the positive volume pattern in inverse Biotech ETF BIS (effectively shorting IBB). See Video for more analysis of IBB.
Trades
Still holding JNUG, YELP and AMZN (see video for stop strategy).
Stopped out of DIG and QIWI.
New Entry: MBLY (MA pullback and pre-breakout 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: HABT,CROX,WBAI,GPRO,BABA,CYBR,KITE,PTBI,MBLY,AAOI,VLTC,GEVO
New Addition: FIVE
Previous stocks of interest breaking out: RXDX, JRJC, IMGN, SINA, KANG
Junk Stock List: VCTY, PTBI, PFNX, TRIL, ZEUS, SCHN,
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)
