My Swing Trading Approach

I’m not opposed to adding more long positions to the portfolio, but I’m not going to force anything. Should the early morning weakness persist, I’ll stand aside. 

Indicators

VIX – VIX rose 5.4% yesterday, despite super bullish price behavior from the market. 

T2108 (% of stocks trading below their 40-day moving average): The Dow was up 331 points yesterday, and the T2108 could only muster a 1% move higher? The bearish divergences remain. 

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

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Energy led the way, while the recent market leader, financials, cooled off some. Technology saw a minor bounce, but nothing to get excited about. Industrials continue to exhibit strength of their own. 

My Market Sentiment

There is a feeling that the market has entered the realm of irrational behavior. But for now, the only trade is still to the long side. Resistance of all kinds, proves to be of little worth. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 3 long positions

Recent Stock Trade Notables:

• Square (SQ): Long at $41.28, sold at 42.29 for a 2.2% profit.
• 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.