Quick Summary:
Market consolidates gains to work off overbought conditions. Still narrow groups of strong stocks. Focus on relative strenght, earnings breakouts and IPOs. Still holding TNA, GOOGL and TSLA.
Video Analysis:
https://youtu.be/Hwph0M77B0ohttps://youtu.be/Hwph0M77B0oI 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 consolidates above the 50 dma but is still in the middle of that $208-214 range that has been developing since February. Commodities have shown little follow through from slight bounces-this could be a "dead cat bounce" short setup. Biotech is bouncing off the 50 dma, and retail continues to now lead the market.
The game plan continues to focus on a select group of relative strength stocks, IPOs and earnings breakouts. We will keep an eye on commodities for a clue as to a short setup or continuation long.
Trades (see video)
Holding TSLA, GOOGL and TNA.
Focus List (see video)
The Focus List: FIT,PYPL,HABT,WING,OHRP,TSLA,GOOGL,GUID,FOLD,TANH,KITE,FOGO,MBLY,SGYP,GLPGEarnings Breakouts Near Entry: EXPE, RCL, MGI, NFLX, BWLD, EHTH, ANFI, OTEX, SHOP, GOOGLThe 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)
