Paul Singh Quick Summary SPY is overbought. I went short today. Exited all long positions for nice gains due to overbought conditions. Focus list positions WLB, FB, WYNN, along with ETF IBB, IWM and some market leaders all require pullbacks. I will exercise patience here. I do not want to chase and am willing to miss moves. …
Quick Summary SPY hitting extreme overbought levels. Short trade has worked 7 out of the last 10 times at these levels. I will wait to short on an upmove or breakdown. Looking for pullback entry in IWM. Took partial profits in CODE today, still holding UA and GDP. Focus list additions WYNN and FB. …
Quick Summary Two ways to short SPY, but must wait. Can’t short here. Go long with individual stocks, not SPY. IWM still waiting for pullback entry. CAT (short), WLB, BEAV focus list setups. New additons to watchlist: WLB, DHI, TOL, FB, TIBX, BCRX, AXP. Market Leaders PCLN, GOOGL and GMCR all strong today. ETF GLD short …
Quick Summary SPY vs IWM. Small caps showing signs of improvement. Waiting for confirmation to short SPY again. Enter IWM long on pullback. A number of focus list stocks moved back to watchlist because no longer near entry levels. TSLA short setup. Focus list additions CAT (short), KORS (long), GOOGL (long). XHB (homebuilders) added to …
Quick Summary SPY is near resistance levels and could provide another short entry, though resistance is weaker now since it is the third hit. TSLA short setup. NFLX was pullback short setup today, and can enter tomorrow if candle holds. JAKK, UA, CODE still near entry levels. Waiting for pullback in CDNS, ACT, WIN, ALXN …
Quick Summary SPY bouncing near resistance. Provides another short entry but not as strong as our original entry since it is another test. Watching old high (190+) and 50 dma (186.74) for potential breakout or breakdown. CDNS (long) and TSLA (short) added to focus list. UA, CODE and JAKK still near entry levels, NFLX is …