Quick Summary:
Market consolidates above 50 dma. Biotechs put in inversted hammers, indicating pullback. Short entry RARE. Still holding AMZN. Stopped out of FOGO. New focus list additions.
Video Analysis:
https://youtu.be/SSbX_7rBJdMI 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 consolidated and held the 50 dma, though it is interesting that volume picked up during a consolidation day. A few more days of consolidation is healthy and would give us some great setups in focus list stocks.
Biotech, which lead to the downside during the market selloff and is now leading again, put in lots of inversted hammers indicationing pullbacks (see RARE short entry).
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)
Stopped out of FOGO. Still holding AMZN,
Short RARE (see member only video for entry strategy)
Focus List (see video)
New Focus list stocks: TASR, BWLD, AMED, CEMP, NTES, AGCO, TAN
The rest of the list remains the same, with same strataegy. The market looks ready to consolidate which would setup a number of these stocks.
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)
