My Swing Trading Approach

I will look to add 1-2 new long positions to the portfolio should the market conditions cooperate. I will also consider adding a short position as well to hedge against a potential pullback. 

Indicators

VIX – 2% pop yesterday, but most of its gains were wiped out. 

T2108 (% of stocks trading below their 40-day moving average): Fell 3.4% to 51%. Despite the market making new all time highs on a daily basis, only 51% of stocks are trading above their 40-day MA. 

Moving averages (SPX): Trading above all the moving averages. 

RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Only Utilities and Consumer Defensive were traded higher. Two sectors that traders tend to flock to when becoming concerned about market conditions. 

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My Market Sentiment

I’m not expecting any major moves out of the market here. Some consolidation followed by incremental moves.    

S&P 500 Technical Analysis

swing trading strategy report 87

Current Stock Trading Portfolio Balance

  • 3 long positions

Recent Stock Trade Notables:

  • Twitter (TWTR): Long at 20.34, sold at 22.06 for an 8.5% profit.
  • Micron (MU): Long at 45.61, sold at 47.91 for a 5.1% profit. 
  • TNA: Long at $61.00, sold at $64.08 for a 5.1% profit.
  • Micron (MU) Long at $43.20, sold at $44.78 for a 3.7% profit. 
  • Alibaba (BABA): Long at $186.42, sold at 179.29 for a 3.8% loss. 
  • Paypal (PYPL): Long at $74.18, sold at $73.29 for a 1.2% loss.
  • Square (SQ): Long at $36.00, sold at $37.35 for a 3.8% profit. 
  • Adobe (ADBE) : Long at $175.20, sold at $179.62 for a 2.5% profit. 
  • Alibaba (BABA): Long at $187.00, sold at 181.77 for a 2.8% loss. 
  • Paypal (PYPL): Long at $71.94, sold at $72.98 for a 1.5% profit. 
  • Lam Research (LRCX): Long at 210.41, sold at $205.20 for a 2.4% loss. 
  • Baidu (BIDU): Long at $242.80; sold at 248.29 for a 1% profit.
  • Nvida (NVDA): Long at $195.17, sold at $204.88 for a 5% profit.
  • Humana (HUM): Long at $248.73, sold at $261.20 for a 5% profit.
  • Square (SQ): Long at $32.92, sold at $34.36 for a 4.4% profit. 
  • Nvida (NVDA): Long at $198.17, sold at $194.06 for a 2% loss. 
  • Lennar Homes (LEN): Long at $56.63, sold at $58.10 for a 2.6% profit. 
  • Lam Research (LRCX): Long at $185.23, sold at $192.24 for a 3.8% profit.
  • Starbucks (SBUX): Long at $55.59, sold at $54.94 for a 1.1% loss. 
  • Illinois Tool Works (ITW): Long at $148.63, sold at $151.23 for a 1.8% profit.
  • Nvdia (NVDA): Long at $180.18, sold at $187.38 for a 4% profit. 
  • Olin Corp (OLN): Long at $34.37, sold at $36.14 for a 5.2% profit.
  • Lowe’s (LOW): Long at $77.97, sold at $81.52 for a 4.6% profit
  • IBB: Long at $330.91, sold at $338.25 for a 2.2% profit. 
  • Seagate Technologies (STX): Long at $34.35, sold at $33.89 for a 1.3% loss. 
  • Wynn Resorts (WYNN): Long at $149.65, sold at $147.14 for a 1.7% loss. 
  • Imax Corp (IMAX): Long at $23.03, sold at 22.26 for a 3.3% loss. 
  • Marriott International (MAR): Long at $106.26, sold at $108.26 for a 1.9% profit. 
  • Alibaba Group (BABA): Long at $170.63, sold at $170.29 for a 5.0% profit. 
  • Workday (WDAY): Long at $106.91, sold at $104.90 for a 1.8% loss. 
  • Nvdia (NVDA): Long at $170.45, sold at $187.94 for a 10.3% profit. 

See my entire swing-trading past performance here. 

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