Strategy Session Notes (July 30, 2018)

SS 073018

COTD:  Trading live on Wednesday morning at 9:15 east coast time to trade the opening rotation.  USFD – Earnings flat, buying SGA’s Food Group.  Stop below $33.

Notes: Lots of volatility – few opportunities.  Imagine having a really big position that’s outperforming the market.  What could that be?

SPX – selling across the board today.  All of the indexes were trading below their VWAP all day…and closed away from the pivot points…(except MDY and IWM)

IBD Up/Down on Volume.  23 stocks up, 377 stocks down.  LOTS of distribution.  Don’t buy into it.

DJI – Gartman went bearish today.  Made me think of one of my favorite songs by Willie Nelson…”Blue skies smilin’ at me. Nothin’ but blue skies do I see.”

DJT – low CLV on all indexes.

MDY – below 50-day MA.

IWM – below 50-day MA

COMPQX – closed below 50-day moving average for the first time in a few months.

FNGU – FANG stocks being de-fanged.  Remember/respect the three day rule.  These are likely to bounce.

  1. FB – was down 23% at some point today. Nobody thinks that this stock is a bargain here.  If it were otherwise, the stock wouldn’t be down 21%.
  2. AMZN – Still quite strong. Barely below the 20-day moving average. Nothing wrong with the trend.
  3. AAPL – reports tomorrow.
  4. NFLX – big breakdown. This could fall to $290.  Think it can’t?  It was there in April.  WMT is now competing.
  5. WMT – watch this stock. No momentum, but showing promise.
  6. GOOGL – can fall at least another $20 bucks. Could fall to $1170 without any flashing red lights.
  7. TWTR – looking for obvious oversold rebound tomorrow off 200-day MA. 59 minute trade?

Growth Stocks: Do NOT be holding these if you are down.  If you are losing, you’re wrong. Period.

  1. TRHC – off the list last week.
  2. PRLB – Also off list.
  3. ROKU – 50-day MA rebound.
  4. CPRT – removing from GSL
  5. OLLI – also took this off on Friday
  6. ICUI – also took off on Friday.
  7. WPX – Earnings on Wednesday. Otherwise, could be bought here with a stop below $18.
  8. EC – popping out of squeeze. Alert $21.60


  1. CELG – Alert $90.
  2. CBMG – Wafer thin trading…but shows a lot of potential. Holding above 7/20 breakout. Alert $21.50

Requested Videos

  1. PSX – can’t buy it now. Breakout at $110 would have been workable…but even then, not a clear buying opp.
  2. TJX – no follow through. I wouldn’t buy it here.
  3. KORS – Earnings Aug 8th. I wouldn’t buy this here.  No edge on direction.
  4. TRV – could it reach 200 MA, or ditch it? Yes, it could…but that’s a ceiling, not a target. I would protect here.
  5. ABT – “Would you have added once it broke above the earnings high of 65.50?” No. Was too extended.  If you can’t start a position at the low end of the range, you’ll have a hard time building a full position without being top heavy.
  6. WM – “Dan – A huge move on earnings right into resistance. What are your thoughts on going long (hopeful after a pull back)?”  Not now.  Sell this if you own it.
  7. GLW – same as WM.
  8. INTU – Breakdown. No!
  9. GSVC – converging moving averages and tight BBs. Does this need a more defined entry?  ONLY above $7.10.
  10. ETSY – So far, 50-day MA is holding…but this is being sold, not bought.
  11. MNK – long term hold? You can hold long term…but is this really the way you want to approach this?  It’s in a steady uptrend.  Let that be your reason to hold it.


Strategy Session

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