Sensitive - sectors that have moderate correlations to overall market conditions.
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Cyclical - sectors that are more sensitive overall market conditions.
VCR Consumer Discretionary
Defensive- sectors that tend to outperforming during sub par market conditions.
VDC Consumer Staples
IBB Bio Tech
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Big Picture Set Up
CMCSA has earnings behind it and looking to be one of the most text book Blue Sky Breakouts in the market right now. You could even limit the risk vs $57 if you wanted to keep it tighter.
It's funny how prior to getting into a position it could look great then once you are in, you realize its heading right back to its prior retest with realistically very little upside in the short term. After coming to this realization as I got filled on Friday. I moved my stop to the LOD (close to breakeven) if the $168 retest wants to do what retests do 9/10 times they reach those areas.
DFS (M1 position) I added to in my swing account through the bull flag through ATHs with financials breaking out on Friday, could be good for a move higher, for now my stop is vs $120 if we do not see follow through on Monday I will be quick to limit the risk to break even in this swing.
Took some profits in MMC by selling my higher cost basis position and keeping my core, if it trades higher its a win, if it pulls back into the $140's I can look to buy back what I sold.
Earnings are out of the way in this QRVO and its still setting up nicely through $200 the risk is still about 10% so we need to give it some time to continue to set up.
We can see SNAP turning its prior resistance areas into support for now ($72), I have an order in to buy above $80 (new ATH), it still might not be ready yet and will give it the extra room to the upside on the buy stop to avoid getting in prematurely.
Was tempted to up my stop in this TXT based off the daily action but when we zoomed out to see the monthly action, need to give it some more room. Now granted the proper stop really would be vs $65 however given how its pulled back at its prior attempts at $73. The few dollars if wrong is not going to make much of a difference. If this is the time its ready then it should continue higher if it is not, its worth the $2 risk. I have buy stops above $73 and the ATH $74.50 with a stop vs $68 from my $70 buy.
After the earnings gap down UPS has started to show us some support in this $190 area. I will be looking to add up through $195 and eventually up through $200 in time vs this low.