The Shakedown 5/28/18



These last few weeks we've been in a somewhat headline driven market while the market consolidates. We have been in a relatively tight trading range within the broad market for the past couple weeks and there has been a few times each week some breaking news comes out which triggers the algo's to rip or sell the market. For that reason, it's of the utmost important to focus on the strongest names and stick to your gameplans. There is nothing worse than panicking out of a great winner because you over-anticipate market news. 

The market is currently gapping up on news the Trump/N Korea summit will still happen this week. I won't be focusing on this news too drastically though.

Link to my hand-picked Q2 Earnings Watchlist Above

Earnings Calendar for the Week Ahead ^


I have been watching this ANET chart for a while thinking it was going to break this major support level for the longest time. All it really did was create a great bottom for a support buy. With another earnings beat a few weeks ago and the buyers putting up a major fight at these support levels, coming off an inside week, it appears the tides may finally be turning in this one. This $248-258 area is a major inflection point for this stock. I especially love the risk/reward potential for this trade.

Trigger: $257.10-258

Stop: $251.89

Target: $280-300+

Hope to see you in the chat Tuesday!

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