The market continues to ascend unabated, the SP500 is now up 7 days in a row, the QQQ is up 9-days in a row, and the Nasdaq composite is up 8-days in a row. There’s a rumor going around that a multi-billion dollar fund which is short volatility and short ES contracts is getting squeezed. Something about a complex options strategy that eats like a bird but shits like an elephant (selling naked calls). In the very short-term it is hard to get overly excited on the long side because the market goes up and down not up or down. However, my scans are still spitting out a decent amount of good set-ups, today specifically in the gold sector.
$JNUG $GSV $IAG $RGLD $AUY $SBGL are the gold stocks of interest today if and only if they can get through yesterday’s high.
Here are the rest of the stocks;
We have an interest in these stocks if and only if they can get through yesterday’s high plus .10-cents, that is typically where out buy stops will be. This single criterion will narrow down your list to a handful of names unless of course, the market is super strong. You can also narrow down the list by float, price, sector, preference, etc.
These ideas are what we consider swing trades that can last anywhere from 1-10 days. Most stocks if not all go through momentum burst that lasts 1-10 days that momentum burst is what we look to take advantage of.