Quick Summary:
Hard pullback to the bottom trading range. Lackluster earnings reactions to good news. Gold puts in bullish engulfing pattern.
Video Analysis:
https://youtu.be/9HgApO17NG8I 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
Hard pullback on Friday as the market tests the lower level of the $208-214 range. We have talked above a narrow market and lack of new highs verses new lows, and that could lead to more pullback. It is also a concern that strong earnings reports in many stocks reporting, while breaking out, have not followed through. However we won't make a prediction and will continue to monitor the market.
The game plan continues to focus on a select group of relative strength stocks and earnings breakouts.
Gold is at the top of the watch list, and we will watch to see if other commodity sectors follow it's lead.
Trades (see video)
Holding NFLX.
Focus List (see video)
The focus list: UGLD,IBB,FCX,X,CYBR,CALA,ETSY,FIT,GUID,MBLY,WING,FOGO,PYPL,GLPG3rd Quarter Earnings Breakouts: NFLX, ANFI, GOOGL, HAS, ASPS, INFN, FTK, FTNT, NTGR, UA, V, CMGPotential Shorts: HABT, SHAK, Biotech, GWPH, FEYE, GPROThe 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,ERXhttps://youtu.be/9HgApO17NG8Please 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)
