Market Speculator Part Time | Swing Trade Report | Bulls on Wall Street

Market Speculator Part Time | Swing Trade Report

Quick Summary:

Please read the post 23 Laws of the Part Time Swing Trading the Market Speculator Way.  It is important to know these rules if you trade off the Report.

Market changing in nature.  CXO new addition to focus list.   DUG oversold setup.  Moved stop up on YELP and added CSIQ today.

The Market

Key Pivot Levels: 196.26: new high resistance 189.53: 50 day moving average 181.31:  recent low 181-184:

SPY 6-18-14

Under the Hood:

Mr. Market is one tough SOB.  In the face of a poor volume pattern, Iraq, overbought conditions and 99 more problems, it continues to march upward. Today we had a strong move to new highs, and volume actually picked up.  IWM also broke to the top of it’s recent range, and has room to reach new highs.

Trading Game Plan:

Not looking to trade any of the indexes over the next few days.  I’ll wait to see how things play out.

Focus list stocks can be played according to setup without regard for the market.  I currently have no short setups, though AAPL could go either way.

Current Trades

I am still holding a half position in YELP.   It closed at $$77.01, so I moved my stop just under today’s bar at $73.90.  Leaving it at $70 leaves to much on the table if price dips.

yelp 6-18-14

I entered CSIQ today, which was one of the Solar plays listed in last night’s report.  FSLR did not pullback enough, so I went with CSIQ.  The reason FSLR was rated  higher is CSIQ has moving average resistance at $28.70.  If it can clear that, it can really move.  My strategy here is that the strength of the sector will help propel it higher.

I am still holding WOOF and FB, both of which are above entry levels.

An alert was sent for CSIQ, YELP and not trading SPY.  If you did not receive the alert, first check your spam filter and only then contact swing@bullson.ws.

Here is the Trade Journal with current open and past closed positions.  Note that FB and CSIQ have not been updated on the spreadsheet

The Focus List

AAPL is removed from the focus list.  The rest of the list remains unchanged as we wait for pullbacks.

focus list 6-18-14

New Addition:

CXO has a great volume pattern and is pulling back nicely.  Entry level is in the $135-137 range with a stop at $134.

cxo 6-18-14

Market Leaders

These are stocks that I always watch, though they might not be in my tradeable watchlist, nor are they actually always leading the market.

Market leaders are acting well and either bouncing off bases or forming bases.  No current entries, though FB and NFLX are close on pullback.

market leaders 6-18-14a

Sector and International ETFs

DUG is a leveraged short ETF that is the inverse of DIG (DIG is leveraged oil long ETF).  It is extremely oversold and moving far from the base at $40.  If it continues downward, it will be a good “rubber band” or reversion to mean setup.  It is somewhat speculative as counter-trend setups generally are.  However, rewards can be big.

dug 6-18-14

New subscribers and trial members please leave me any feedback/comments in the comments, via email (singhjd1@aol.com) or twitter (twitter.com/PaulJSingh)

Paul Singh Administrator

5 thoughts on “Market Speculator Part Time | Swing Trade Report”

  1. Hi Paul! How far do you go back in time to analyze the pattern in volume bars? Beside the two large bars on the left, I see mostly distribution. Can you explain the volume pattern in CXO? Thanks!

    • I usually analyze within the pattern I am looking at, unless there is something of real concern prior to that pattern.

  2. All position sizes are between $20,000-30,000 unless otherwise noted.

    CXO, yes the volume pattern is not the best, though post breakout has been good and I wouldn’t say there is any heavy distribution.

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