We saw a handful of new swings that triggered off the Watch List on Friday. Generally, most of them look pretty good this weekend, but volume concerns me, overall. The SPX regained its position back above SMA20, but the volume was lower than the all three of the down days prior. Have we stopped the market slide and now regaining the bull trend? It’s hard to say. At this point, I still believe it pays to stay nimble and fairly heavy in cash. If we honor our stops, we should be ok – It’s a stock pickers market right now. The massive market move over the last few months has turned into a chop fest and world events have taken center stage (puts a little more pressure on the swing traders).
Let’s stay nimble.
Here are the stocks that triggered new swing positions:
ES – swing triggered, but I would like to see more volume to continue move up.
ONNN – made it through SMA20, but I was disappointed with volume. Possible stop at EMA20 or SMA50 if you’re will to take the risk
VG – nice day Friday. 4.50 target
CYTR – some resistance at 1.05 – good exit or possible reducing a little position size.
WNR – Really need to see this get through SMA10 in the next through days, or it might be wise to up the stop.
HUN – Lots of resistance above.. we’ll see how it goes.
One trade stopped out on Friday:
CLR at 66.83 for 3.48% gain.
Check out the Watch List Sunday night for new additions.