Market Speculator Part-Time | Swing Trade Report

Quick Summary:

SPY does not follow through yet.  Intra-day video.  Holding $SPXU, $GWPH and $SCTY.  New focus list additions $TSLA and $YELP.  $DGLY, $BLOX, $SCTY, $BIDU, $WFM and $JRJC near entry levels.

Video Analysis (4 minutes):

Intra-day analysis of SPY and focus list stocks.

Key SPY Pivot Levels: Round number $200, Old high 199,  50 dam 197.27, 197.50 and $196.50 gap fill and support levels

SPY 9-10-14

Under the Hood and Trading Game Plan:

After yesterday’s break of $200, early morning we got a break below the old $199 high, only to recover mid-day and close above $200.  This market is not going down without a fight.  The tail that printed today is not on strong volume, which lessons the probability of a sustained move off the tail.

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 am still holding SPY short via SPXU, SCTY and GWPH.

The Trade Results Journal/Spreadsheet is up to date.

The Focus List

Finviz link to easily follow the entire focus list.  Most positions entry charts remain as annotated earlier in the week.

DGLY, BLOX, SCTY, BIDU, WFM and JRJC all near entry levels and discussed in recent reports or videos.

New Addition:

YELP is back in play on pullback to recent high.  Entry $80-81.50.  Stop around $79.  Target $85.

yelp 9-10-14

TSLA has formed a 20 point trading range post breakout to new highs.  Entry toward bottom with target at top provides good reward to risk.  An entry in the $570-574 range, with a target at $290 offers 3-4:1 reward to risk.

tsla 9-10-14

Short Setups:

My focus now is shorting SPY via SPXU

Market Leaders

GMCR bounced strong after a multi-day pullback.  GOOGL printed a hammer/tail after yesterday’s big drop.  CAT gapped down hard.  The rest bounced within trading ranges.

market leaders 9-10-14

Please read the post 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 rules if you trade off the Report.

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