Quick Summary:
Market pulled back yesterday and set to open down due to AAPL earnings. Took $GOOGL profits. Focus list key on relative strength momos and earnings breakouts.
Video Analysis:
https://youtu.be/W4dqGJgoiZcI 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
The market pulled back yesterday slightly and is ready for some rest before testing highs. APPL, which is heavily weighted on the indexes, is having a negative earnings reaction and will likely open down around 10 points. This is having the expected effect on the indexes, with Nasdaq down 1.4% premarket. A pullback here will provide great entry points for focus list stocks.
The game plan continues to focus on a select group of releative strength stocks and earnings breakouts. While not yet in play, commodities continue to slide, while gold tanked. We will watch for a reversal candle, but will not take early stabs without confirmation.
Trades (see video)
Took profits in GOOGL yesterday. No current positions.
Focus List (see video)
The focus list: PYPL,FIT,GPRO,MBLY,NFLX,GOOGL,BWLD,MNST,HABT,AXON,GUID,ETSY,SAGE,TWTR,WING,IBB3rd Quarter Earnings Breakouts: NFLX, ANFI, GOOGL, HASThe biotech list (long and short): SAGE,EPZM,PRTA,SCMP,INSY,BLUE,POZN,RARE,KITE,RGEN,SGEN,FOLD,ALKS,FOLD,REGNCommodity List: USLV,TANH,SEDG,WLB,JKS,FSLR,CSIQ,FCX,WOR,X,OA,ERXPlease 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)
