Quick Summary:
SPY bounces to key $212 level. IWM near 50 dma. Still holding JNUG, GPRO, AMZN, TZOO. Adding Aluminum to focus list via stock CENX. Three new earnings breakouts added to list.
Video Analysis:
https://youtu.be/r05AaTQfLtII 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. TickerTV link with Kunal from earlier today:http://ticker.tv/kunal00/5553822ec9f909591800001c
Indexes and Game Plan
SPY bounces right up to the old high resistance level that it has pulled back from 6 times now. We can start to get more aggressive if we get a breakout and the level holds. Also keep an eye on IWM remouning it's 50 dma. This could be used as a possible index swing play.
The game plan is to play conservatively and key in on stocks with earnings catalysts or low risk patterns. We continue to monitor earnings pullbacks that are setting up and focus list stocks. We continue to look for a good entry in energy and oil.
Trades
Still holding JNUG, GPRO, TZOO and AMZN (see video).
Note: JNUG is not our typical swing trade as we build positions and even average down if prices go lower. This is a small position that allows me to enter more on deeper pullbacks without getting stopped out. This setup has been discussed in the last weeks videos.
Focus Lis
Aluminum is showing the same bottoming formation we stalked in gold miners and energy. I will use CENX as my aluminum trade and will look to enter tomorrow.
Focus list stocks to key on: CENX, NFLX, HABT, DIG, BRZU, MDSO, IWM,Added CTRP, QIWI and NTES to earnings breakout list.
Second Qtr Earnings Breakouts: DATA, GLUU, IMPV,CE, SKX, GPRO, AMZN, TZOO, NFLX, MDSO, DNKN, HAS, GIMO, ORLY, RCII, RTEC, DPZ, GPRO, BLDR
Energy focus list: TK,OII,FTI,NOV,XEC,CRZO,ESV,NBR,OAS,VLO,CLR,OIS,WNR,FANG,SCTY,DVN,CVX,DRQ (see video)
Sector Watch
Financials are picking up and a few have made our focus list for the first time in 2015. Emerging markets. Energy and Gold for long term big swing trades. Aluminum added to the sector watch.
Please 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)
