Rally continues in the market. Sector rotation in full effect, money going into beaten up sectors ,commodity names like oil, coal and steel , biotech and some spec. plays while high beta tech names rest.
SPY running into the big 200 level followed by major 200 MA resistance at 202.50. Another push higher, i will be looking into adding some shorts. Super run in oil, coal and metal names and many of them are at or approaching some major resistance level. So I will be eyeing on them for profit taking shorts. Great trading action on watch list names, our bio red to green plays on JUNO,LABU, CLDX, ACAD worked well and green to red short play on TSLA, AMZN, SLPK also worked.If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.Also if you are interested in our day trade alert services and chat room , take a free trial! Check them out here.Follow me on Twitter @szaman and on StockTwits @szamanCheck out our newest Offering "Bulls Vision" ! A brand new screen share product! See through the eyes of @kunal00 while he trades live everyday.[caption id="attachment_38163" align="alignleft" width="800"]
SM Oil name, extended run to 50 MA. Will be watching for short setup, ideally on a green to red type move.[/caption][caption id="attachment_38166" align="alignleft" width="800"]
WLL Oil name, extended run to 50 MA. Will be watching for short setup, ideally on a green to red type move[/caption][caption id="attachment_38167" align="alignleft" width="800"]
X Steel stock, approaching resistance zone. Watching for a fade.[/caption][caption id="attachment_38162" align="alignleft" width="800"]
CNQ Coal stock, approaching resistance zone. Watching for a fade.[/caption][caption id="attachment_38168" align="alignleft" width="800"]
ZIOP Extended bio, names watching 200 MA, 10 area for a fade.[/caption][caption id="attachment_38165" align="alignleft" width="800"]
WB China name. Nice earning move, this has a tendency to make follow through run. Watching for a continuation over 50 MA.[/caption][caption id="attachment_38164" align="alignleft" width="800"]
TSLA Could be quick long trade on red to green move.[/caption][caption id="attachment_38161" align="alignleft" width="800"]
AMZN Tight consolidation. Watching over 50 MA for a long.[/caption]
