Shooter’s Swing Trading Notes

A weekly piece by Scott “Shooter” Henderson covering a few Conviction Trades, 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! I reduce my entry size by 1/2 except for VXX common.

“Next Entry Window Long label” or “Set-up Long”.



Bank earnings start this week. Its projected to be a banner season. I will chase C, BAC, Regional Banks, and probably XLF into Friday. I will only carry runners beyond that. TLT should become a trend or that is my perfect world. Looking for any back-test to jump on board. The only exception is I don’t trust the Fed to stay the course. So, we’ll so how long that lasts. Tip: Once the regional bank presidents come out on the news you know that tightening is over for a bit. However, you guys are my ears. You see something, about the Fed, or about anything you think is pertinent, post it. For, example, I missed TLT right after the Fed. It completely skipped my mind but my notes clearly had a breakdown marked. I didn’t see it until my review. If you think I missed anything please point it out.

So, my thesis into the 2nd quarter is I think we get these dumps and pumps or vice versa. So, bigger ranges. That are harder for most but not for me. Just need to drill down and be willing to turn on dime. Elliott Wave sees right threw all the crap and become beacon in the dark. That said, I need your help to point more talking points out. Some of you have pointed out to fantastic tickers over the past few months and I encourage you to continue.

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).

LCID Breakout candidate. Sell a march $32 put for $2.51 Target Jan 28 $43 calls for $3.25 for a debit of $1.25 do Feb…a few traders are chasing it this week. This is a counter trend trade. That (B) will come off quick when we get there. So, stay nimble don’t be greedy take 1/2 at $45 and put trailing stop for 50% of the gain there and let it run. I will cover the March at (B).

AAPL Either a nice flag or an Ascending Triangle. Either case gets us back over $180 pretty quick. Stop is close below $167.46. I’ll be doing this weeks $173-4 calls and 1/4 in next weeks $175. Hopefully, they are open. Then, I will role 15% of any gain into Feb $175 and $180 calls and 15% into March $175 and $180 calls. May also OTM puts to partially fund.

SEDG Stop Hit

CSCO Went back in Friday on a 90 min trigger targets $66. Sell a march $52.50 put 0.49 and bought a Jan 21st $62.50 call for 0.01 debit. Still viable to enter! As it progresses I’ll add the following week. Again, stay tight.

MP Still looking to open a starter position in March $50 call this week and maybe July. I’ve not looked yet, so hopefully those strikes are open. Should also be safe to sell the monthly $40 puts. Same thesis as last week.

JMIA Still lurking on the base. Reset a few pennies lower. Still thinking Mar and/or July $15 strikes depending on what’s there.

T That changed quickly, count reset the (C) down to $20.53. New target for the bounce $27.30. So, I would cover there and buy it back $20.30.

Last Week’s Important Charts Posted In Chat

Please see Scott “Shooter” Henderson’s disclosures and terms of service for his swing trading ideas.

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