The market had a huge up day yesterday; the Dow Jones was up +300 points, and the SP500 was up 1.37%. These are both big days after a decent move higher.
There’s not much to do here as far as swing trading; you take some off and ride the rest. I would not be aggressive putting on new positions until the market corrects either through time or price.
Our stock of the week $CALA had a huge day yesterday up 28%. The report was released yesterday at 4:00 in the morning, you can sign up for our stock of the week report HERE.
We only have three stocks on our watchlist today; $CNAT $QTNA $NFLX.
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 our buy stops will be. This single criterion will narrow down the 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.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at fzorrilla@zorcapital.com or 646-480-7463.
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