Market Speculator Part-Time | Swing Trade Report

Quick Summary:

SPY analysis.  TWTR exit.  3 new focus list stocks: GOOGL, MNST and PRTA.  Market leaders AMZN, FB and TSLA all near entry levels on pullback.

Video Analysis (3 minutes):

 Intra-day video goes over TWTR exit and SPY.

Key SPY Pivot Levels: Old high 199,  50 dam 196.28, 197.50 gap fill and support level

SPY 8-26-14

Under the Hood and Trading Game Plan:

SPY did nothing today, which is how most individual stocks reacted as well.  I would say this up move could be running out of steam, but there really hasn’t been much steam pushing it to begin with.  The analysis stays the same.  Key levels to watch if the old high at $199 is violated are $197.50 and $196.28.  This second moving average support would provide good entry for individual stocks we are watching.

The current game plan is to manage the SPY short position.  I continue to look for long setups on momo stocks, but will not chase.

Current Trades

I exited TWTR for a gain today.  I am still holding SPXU.

I am playing the stop by “feel”.  If I had to give a stop for SPXU, for those who can’t watch or are working, I would likely make it around $43.  There is no resistance since we are in new highs, so this is based solely on the projected target of $46-47 and getting 2:1 on the trade.  This should be combined with not risking more than 1 percent of your account.

The Trade Journal is updated.

The Focus List

Finviz link to easily follow the focus list.

Focus list stocks KORS, BIDU, UNTD are near entry levels.

Focus List 8-26-14

New Additions:

GOOGL does not have a great volume pattern, but it is pulling back nicely to the 50 dma.  Entry $586-589.  Stop $579.    Target $600-610.

Don’t be scared off by the “high price” of GOOGL.  Focus on percentage gain, not points.

GOOGL 8-26-14

MNST broke out strong with a huge gap and now has the start of that rounded pullback pattern we saw in TWTR.  These are always tough because the big gap and lack of support levels makes it tough to find a clear pullback zone.  Entry here with stop $84-85.  Target $94-95.

MNST 8-26-14

PRTA is a biotech stock that is showing signs of challenging recent highs around $25.  I will look for a pullback entry around $22-22.25 with a sot at $21 and target $25.

PRTA 8-26-14

Short Setups:

My focus now is shorting SPY via SPXU

Market Leaders

AMZN is showing signs of life and I may look for a good entry level.  Z is still a pullback candidate, as is FB and TSLA.

Market Leaders 8-26-14

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

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Paul Singh Administrator

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