Quick Summary:
IWM continues to lead and SPY holds small gap up. New breakout entry in EPZM. Stopped out of GPRO.
Video Analysis:
https://youtu.be/cXVp_h5ypyoI 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
IWM continues to lead as the market gaps up and holds today, though SPY closed well off its highs. Positives are price action on the indexes, overall breadth is decent as are new highs. However, there are a number of momos getting hit or not participating.
My game plan is to take a neutral market stance and be very selective with setups. Also keeping an eye on short setups in very overextended stocks as "reversion to mean" pullback shorts.
Trades
Still holding JNUG and CYBR.
Entered EPZM as a breakout continuation trade (see video).
Stopped out of GPRO, ultimately not holding the gap down lows or remounting the 200 dma.
The 2015 spreadsheet: bit.ly/161Yl4w
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
Stocks to key on Tuesday: CEMP (new), MRC, KEYW (new), FIT, TANH, CYBR, MB (new), PANW, FEYE
Keep an eye on residential real estate (RYL, LEN, MTH), cyber security (GUID, CYBR, FEYE, PANW, VDSI) AND IPOs (WING, FOGO, FIT, SEDG, TANH).
Focus List to Start Week of June 22: WING,FOGO,FIT,LULU,MNST,GOOGL,GTLS,KITE,HABT,SHAK,TWTR,QIWI,DSKY,NES,YOKU,TANH,MNKD,MRC,ZIXI,IMGN,KOP,LEN,RYL,MTH,SEDG,GUID,FEYE,PANW,CYBR,VDSI
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, housing, 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)
