Quick Summary:
Market gaps and holds,albeit on low volume and near resistance. Trades today: Profit taking in GPRO, FIT, TNA. Entry TNA and AMZN. VXX near stop. Commodities lead but no great entry levels.
Video Analysis:
https://youtu.be/lakECfSc8jgI 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 gapped up and held the gap level on what the market took as positive news out of Greece. In the video we discuss how we are not out of the woods yet with news from Greece, resistance looms above and low volume suggests lack of conviction. Positives include holding the gap level and closing back into the old $208-214 chop range.
The game plan is to continue to look for a market tell and have a separate lists of stocks showing relative strength, oversold condition and possible shorts. Trading will be selective, limiting risk.
Trades (see video)
Took profits in FIT, TNA and GPRO (short)
Entered AMZN on new high breakout and TNA (exit same day)
Nearing stop on VXX. Will assess premarket once we know more about futures action.
Focus List (see video)
For now we are using a selective approach to trading until we get a clear signal.
Relative strength stocks: FIT, WYNN, AMZN, MBLY, GOOGL, FOGO, GWPH, WING, LEN, TWTR, UA, NFLX, KITE, MNST
The biotech list (long and short): SAGE,EPZM,PRTA,SCMP,INSY,BLUE,POZN,RARE,KITE,RGEN,SGEN,FOLD,ALKS,FOLD,REGN
Commodity List: USLV,TANH,SEDG,WLB,JKS,FSLR,CSIQ,FCX,WOR,X,OA,ERX
Lists from previous weeks that could become relevant:
: RGSE, VBLT, TANH, GTLS, LEN, MTH, FIT, SGYP, MNST, IPI.
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
Still watching China ETFs and commodity sectors showed relative strenght today. IBB is resilient as always and could lead again.
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)
