Trade Report Video: https://youtu.be/0DPT1s2O_o8
Positive day for the market as SPY bounces off the 200 day and more importantly IWM show relative strength almost tripling SPY’s gains. This indicates more of a broad based move. One day does not make a trend, but it’s something to take monitor.
FIT made a nice move to $39 after entering at $37.55 the day before. Earnings are AH Monday. We need a “cushion” with price in the $41-43 range to hold though earnings. Otherwise we will get out Friday or Monday.
Big breakout for oil today. May look to enter on pullback today.
The strategy is to continue to monitor post earnings stocks for good entries. BDC and ROCK are two new additions to the earnings breakout list.
Earnings breakouts: GOOGL, AMZN, GIMO, PACB, ERII, YHOO, NTGR, ATHR, ALGN, TREE, CYOU, BABA, BDC, ROCK
Possible parabolic short setups: WTW
Focus List: FB, LVS, BIDU, TWTR, KITE, X, AAPL, LNKD, KERX, WING, FIT, HABT, INDL, BRZU, YINN, PTR
Shorts List: BWLD ,HRTX, CMG, SKX, AMBA, P, FEYE
Indexes/Sectors: SPY, SPXL, SPXU, URE, IBB, GLD, USO, XLE, XIV, VXX, BRZU, YINN
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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