My Swing Trading Approach

Some selling here wouldn’t be surprising, but I don’t expect it to be a lot. I have a solid portfolio of trades underway, and will look to add to it under a continued wave of bullishness. 

Indicators

VIX – Popped almost 3% yesterday, but still at a ridiculous 9.4. 

T2108 (% of stocks trading below their 40-day moving average): Respectable bounce in the number of stocks trading back above their 40-day moving average. A 3% rally taking it back up to 54%. Still lagging where it should be though. 

Moving averages (SPX): Holding all the moving averages. Bullish. 

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Right now, it is all about Energy. The stocks in this sector are rallying at an incredible pace. Basic Materials are coming to life as well, coupled with Consumer Cyclical. I keep thinking Financials will do something here, but I am almost at the end of my rope waiting. 

My Market Sentiment

Market lacks any “big moves”. The potential for a 1% rally has become nearly unheard of. Mediocre rallies, day-after-day, is the name of the game here. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 6 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.