My Swing Trading Approach

There’s not a lot of movement out of stocks this week. In fact it has been quite a dull week for traders. If I can find some momentum to this market today, I’ll look to add a new long position. Otherwise, I will likely stay put. 

Indicators

VIX – Back below 10 to 9.93. 

T2108 (% of stocks trading below their 40-day moving average): Impressive that it is down 12 out of the last 15 days. Yesterday it dropped another 1.7% down to 54%. 

Moving averages (SPX): Broke below the 5-day and 10-day moving averages, and came close to testing the 20-day moving average yesterday. Still, the dip buyers managed to rally the stocks back to positive territory. 

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Financials are heating up again and looks ready for another solid run. Industrials appear ready to finally bounce. Health Care continues to be a total drag. 

My Market Sentiment

It’s not the most exciting market, but it remains very bullish, and only one side of the trade that can be traded – the long side. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 5 long positions

Recent Stock Trade Notables:

• 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.