Quick Summary:
Market bounces as expected but still in chop range. Fed meeting tomorrow. Exercise caution. BIS entry. Crude oil at good entry level.
Video Analysis:
https://youtu.be/8nIdMHN-jOAI 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 and IWM bounced strong off yesterday's hammers. We are still in chop range and tomorrow we have the Fed meeting that will likely include rate hike talk. Be cautious but do not fear taking good setups. The BIS speculative trade today is a low risk high reward setup based on the idea that it is well positioned *if* the market tanks tomorrow.
The game plan is to take a cautious approach but stike at good setups that reach entry levels.
Trades
Still holding MBLY, JNUG, GPRO and AMZN.
Entered BIS today. See video for strategy for this speculative trade setup.
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
Crude oil--USO and UCO back in play.
Focus list stocks near entry: TANH, GUID, CMCM, SEDG, KOP, KITE, OAS, UCO/USO, MRC, SHAK
Focus List: YOKU,NES,EBIX,RS,CTRP,ULTA,ABMD,LULU,KOP,BABA,TX,SEDG,OAS,KITE,BLUE,AGIO,CMCM,MOMO,TANH,MNKD,MRC,SCHN,USAT,GUID,ZIXI,PANW,FEYEOverall Watchlist from last week: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
Key sectors include biotech, software applications and internet, gaming, select retail, steel, oil related 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)
