A weekly piece by Scott “Shooter” Henderson covering a few Conviction Plays, Primary Wave Set-ups, Next Entry Longs, and any Continuation Plays. Shooter’s work is founded in Elliott Wave Theory and other technical indicators.
We focus on primarily long trades using the VSL list of stocks and a handful of crypto assets. Short trades are generally used to hedge the long portion of our portfolios, not for outright speculation.
Make sure to adhere to a rules based approach to trading using technical indicators. And, we highly recommend trailing stops and/or stops at preset technical levels.
Follow along in chat if you are going to swing trade a portion of your account. We recommend starting with trading 5% or less of your total portfolio and no more than 20% even as you gain experience.
Continue to scale in on all entries!
“Next Entry Window Long label” or “Set-up Long”.
Shooter’s Trade Ideas
Several of Scott’s conviction swing trading ideas from the VSL & ETFavorites, his own lists, cryptos and short ideas (which are never from the VSL which is a long-only list).
AAPL I only have few runners left in this weeks inching to add and the gains I rolled into Feb $178-$180 calls. A little under water today but I’m only risked gains there. So, I’m good with that! Still looking to add more this weeks and a next weeks. Then, I’ll role 25% of any future gains into Feb. That’s the plan! I need some volume! Thinking maybe we get a back-test around $174.60 if that prints I’ll add 1/4 position size in this weeks $175-80 and start building a position in next weeks. Monday’s open will be critical to next weeks performance. Note the blue line notated on volume. We tag that blue on volume I’m scaling in from there.
SEDG Gave a nice back-test and looks like it put in its 4th higher low. The Next Entry Long at $257.32 is a great spot to scale in if you not entered yet or to add to an open position. A weekly close below that $252.70 would reset the count but it looks done to me. That huge volume candle indicates we have very interested buyer at that level.
CSCO We got the breakout! Should continue to around $64.30 I’ll cover this lot there and buy it back around $61.50. If you skipped it that your sign.
MP Looks done, should head to the blue Speedline pretty quick. I like Jan-Feb $50 call and July. May not get that high but they will work. Should also be safe to sell the monthly $40 puts. Think we get tailwind with all the shut downs in South America. Bias is long commodities!
JMIA has 90 minute trigger and looks poised for at least 50% back-test $35 to $38. Think, to start runners this week in Mar and July $15 strikes depending on what’s there.