Shooter’s Trading Notes

A weekly piece by Scott “Shooter” Henderson including risk review, buy and sell signals and swing trading ideas. These trades can be used to:

  • To “buy the dips” for entry into longer-term position trades that were featured in the “Plug & Play” quarterly updates, i.e. a second chance to enter a position that you missed earlier.
  • To ride a trend in progress that you might have been afraid to buy because it has already rallied.
  • To employ a scale out, trim or covered call strategy to take profits and manage risk.
  • Make occasional swing trades around the edges of your core portfolio.

Scott’s perspective is as a swing trader with time frames in days and weeks, hence the tighter stops and option trades. His charts can also be used to establish positions for longer term position trades, i.e. measured in quarters and years, when you didn’t get in earlier or to add to a position. His swing trading approach is also useful if you want to start scaling out of a longer term position.

Swing traders must make check into the chat room frequently for alerts and updates on entries and exits.

Risk On / Risk Off Index Notes

A view of the big indexes that give us a clue as to whether the stock market is more risk on or risk off. Using weekly charts for longer term trends and daily charts when there’s a potential change or increase in risk.

SPY They bought the Dip! But the chart shows potential for a dip to around 2020 January highs as Kirk mentioned in webinar.

QQQ Biden’s executive order weighs! A close below $360.48 I’m out (Tight Stop). Better chart than SPY, but if it breaks the trend, which Kirk has mentioned is a “fake trend” then a correction to the red line is in play.

DIA Held where it had too. Very constructive. Lets see how we open may chase this weeks/nexts.

IWM is consolidating in a range, however, could test 2020 January high of $170s if it breaks below about $217.

TLT Manifested as planned! Next. Stalking 144.75 for another long.

Buy The Dip

Attractive Plug & Play stocks or ETFs that have completed a downtrend and are pivoting back up. Using daily charts within longer term trends.

BST BlackRock Science Technology Trust “Buy The Dip to $52.50) Volume is up 236%

Ride The Trend

Plug & Play uptrends that have enough room to rise another 20% or more. Using daily charts with longer term trends.

I will start tracking trends shortly.

Sell / Scale Out / Stops

Plug & Play stocks or ETFs that are overbought that need trimming because downside is 20% or more. Using daily or weekly charts.

Stop changes:

  • ASTS $11.55
  • PBW $83.40
  • BRK.B $273.16
  • SOXX $386.02
  • REMX $78.12
  • FCX $34.07
  • GDX $33.30
  • XLC $79.22
  • REMX $95.00
  • PSACU $17.50
  • CCIV $26.50

Shooter’s Swing Trade Set-ups

Scott’s favorite swing trade candidates selected from the broader VSL & ETFavorites. These trades move fast, generally lasting a week or two. Some might be a few days, some might stretch to a few months with continuations and rising stops. You really NEED to be in the chat room several times per day to use these. Using daily or shorter charts.

QQQ PowerShares QQQ Trust Swing Long July 28th $360 calls and Aug 2nd $362 calls

Covered

HYG iShs iBoxx $ High Yd Cor Bd ETF Manifesting!

Hourly count now support the move.

How it started. HYG Nov $80 puts for 0.56 Stop a weekly close above $89.10.

Putting on some Tail Risk. The plan, take partial on Sept 16th at or below $75 HYG

SPY SPDR S & P 500 ETF Trust Chased the breakout This weeks $438 calls. Stop a close below $343.75

Covered