Trade Report Video: https://youtu.be/mdge7k-Hrrk
SPY stalled yesterday at the gap fill/50 day ma resistance levels. A pullback is expected here, however if price clears this level we become more bullish.
If we do pullback the open gap at SPY 195 is in play. That is why I added two short positions yesterday. EWZ stalled at its 50 dma. While I am still bullish EWZ I shorted on expectation of a pullback.
Pre-market SPY is down slightly while oil is up .9%.
Added AMBA (short) and EWZ (short). Still holding GOOGL, AMZN, UWTI, SPXU (SPY short) and CYBR (short). I will exit SPXU if SPY clears the 50 dma. I no longer need it to balance the swing portfolio now that I have 3 other shorts.
Focus List: TWTR, MBLY, WBAI, TANH, FCX, WYNN, BITA, SINA, GPRO (see video for setups to new additions)
Best longs come from BRIC ETFs and Energy (though they are extened): BRZU, RSX, YINN, INDL, XLE, DIG, ERX
Shorts List: CMG, FIT, SKX, AMBA, BWLD, HRTX, NBIX, RARE, BMRN (see video for discussion of these new short additions)
Indexes/Sectors: SPY, SPXL, SPXU, IBB, GLD, USO, XLE, XIV, VXX, BRZU, YINN
Remember to stay patient and that CASH is a position.
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.
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