Quick Summary:
Market tests bottom of range again off China news. GOOGL gaps higher. Commodities strong. Current positions GOOGL, ERX, AMZN, TNA. Small focus list as market movers continue to narrow.
Video Analysis:
Report Video: https://youtu.be/HygI372LKIoAdmin Note:I am moving tomorrow so Kunal will take over Reports for Thursday and Friday. While I may make trades on my phone while traveling, I likely will not be able to send alerts. Keep an eye on the focus list and pay attention to target and stop levels for current positions as discussed in today's video.
Indexes and Game Plan
SPY again tested the bottom of the $208 to $214 range as stocks showed weakness across the board. If the 200 dma breaks, we could see a selloff and we will adjust accordingly with pair trades and possible VXX plays. Stocks that are working as swings continue to narrow and consist mostly of post earnings plays.
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)
Entered ERX, up 2 points from today's entry.
Also holding GOOGL, TNA and AMZN. Pay close attention to GOOGL strategy as discussed in video.
Focus List (see video)
The Focus List: SHOP, BLWD, VA, PNRA, PLOW, PYPL, WBAI, TWTR, UGLD, IBB, XLE, ERX, GOOGL, AMZNThe 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/HygI372LKIoPlease 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)
