Note: no video this morning due to tech issues. A new video will post after hours.
Fantastic week for the market as SPY took out pre-Brexit highs, recent highs and finally the all-time high at 214. While the market is extended, it is also holding the key support levels. This week we look for consolidation to re-establish new long positions. With the market being this extended, I will also look to potentially establish one or two shorts in extended stocks if we get more overbought. New sectors have emerged post-Brexit selloff and recovery that are reflected in the focus list and Sector list.Earnings season is under way and we will start monitoring earnings breakoutsNew Sectors: Homebuilders and related sectors, biotech/medical, retail, trucking/auto, radio, BRIC/Brazil and most relative strength stocks were earnings breakouts last quarter.Focus list for the week: AMZN, BEAT, CYBR, CRS, GPRO, FCX, X, JOY, KORS, NFLX, RYI, TSLA, WLH, TWLO, YELP, Z, BRZU, AVXL, TSROPotential Parabolic Shorts: ACIA, CHRS, CUDA, GOL, HSC, KURA, OMN, REN, SPUNote: The parabolic short list is full of explosive stocks. These stocks are extended and potential shorts, but they are not setup yet. Only enter on strong reversal signal. The setup is countertrend and many of these stocks could become long setups again. Countertrend trades are risky. If traded use small position size.2016 Stats: http://bit.ly/1NFgq7C (UPDATED Saturday)Current positions: Short NUGT, Long FB, LABU, TWTR, ERX (stop 27.75-28), AMBA (stop 47.50).Indexes/Sectors: SPY, SPXL, SPXU, URE, IBB, GLD, USO, XLE, XIV, VXX, BRZU, YINN, XLF, FASPlease 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.How To Use Swing Dashboard: https://blog.bullsonwallstreet.com/how-to-use-the-new-swing-trader-dashboard/Chat With Traders Interview: http://chatwithtraders.com/ep-058-paul-singh/New subscribers and trial members please leave me any feedback/comments in the comments, via email (singhjd1@aol.com) or twitter(twitter.com/PaulJSingh)
