Quick Summary:
SPY closes poorly on continuation move and stochastics near extreme oversold levels, while IWM holds up over the 50 dma. Possible UPRO trade tomorrow. Still holding JNUG, YELP, AMZN and MBLY.
Video Analysis:
https://youtu.be/AJ5fSd4b_aUIntraday report: https://youtu.be/6Sq26s6GcuEI 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 pullback and closed poorly today. IWM also closed poorly but remains above the 50 dma. Notice that stochastics are reaching extreme oversold levels. This has been a slam dunk long entry over the past year, though it can be a difficult countertrend trade to take.If SPY opens down tomorrow, especially on a gap down, I will look to enter long using leveraged ETF UPRO (see video for more analysis).
The game plan is to take a cautious approach but stike at good setups that reach entry levels.
Trades
Still holding JNUG, YELP, MBLY 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
New Additions: POZN, REPH
Focus List: AAOI, BABA, BOX, BLFS, CEMP, CMCM, CROX, CYBR, DATE, HABT, SHAK, GPRO, MBLY, LOGMOverall Watchlist:TSE,CMT,PES,ARDX,SANW,CRWW,USAT,BOX,TTWO,EA,GLUU,KING,CMCM,DSKY,WAC,OCN,WD,WBAI,SGMS,NFLX,AMBA,AAWW,FIVE,CONN,VMW,DATE,PTBI,GEVO,LOGM,BLFS,ARDX,HABT,CROX,GPRO,BABA,CYBR,KITE,VDSI,AAOI,MBLY,VLTC,RXDX,JRJC,HRTX,SINA,KANG,IMGN,YOKU,AMCC,SCHN,TANH,CEMP,BAS,MNKD,OAS,GALE,SRPT
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)
