Quick Summary:
Our morning analysis played out as SPY closed weak and below the 50 dma. IWM also put in a bearish engulfing pattern. Today's trade entry short HRTX. Still holding CYBR and JNUG.
Video Analysis:
https://youtu.be/Jve4h8JykP0Morning Report: https://www.youtube.com/watch?v=Agqlk8vKBiQI 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 were both hit hard with SPY losing below the 50 dma and IWM putting in a bearish engulfing pattern. I will look to possibly short IWM tomorrow morning if there is a weak bounce.
My game plan is to be very selective with longs, looking only at strong stocks holding up well, and possibly taking a stab at shorting extended stocks that got hit today and bounce weakly tomorrow.
Trades
Still holding JNUG and CYBR.
Went short HRTX (see video for setup). Currently down $1.50 from entry.
The 2015 spreadsheet: bit.ly/161Yl4w (needs to be updated)
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 for Wednesday: RGSE, VBLT, TANH, GTLS, LEN, MTH, FIT, SGYP
Possible shorts (extended bearish candles): PANW, FEYE, HRTX, VDSI, POZN, AMED, ISNY, BLUE, HABT
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)
