Shooter’s Trading Notes

A weekly piece by Scott “Shooter” Henderson that includes his weekly Risk Review of major markets and his top swing trading ideas.

We primarily make long trades in our VSL 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.

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.

SWING TRADE NOTES USER GUIDE

SPY Risk Off! Set-up: Primary Wave (4). Triggers: 90 Min We tagged $473.54 pennies shy of my $474 target. Maybe one more push after we back-test the Sept high. Maybe that will be it.

SPDR S&P 500 ETF Trust Weekly Chart
SPDR S&P 500 ETF Trust Daily Chart

QQQ Risk Off! Then we should flip back Risk On. Set-up: Primary Wave (5). Triggers: Daily Strategy: Looks like the Back-test is done. Maybe a $10 ramp toward $400-$405. Stay small and limit your risk.

Invesco QQQ Trust Weekly Chart
Invesco QQQ Trust Daily Chart How perfect was that back-test of my Speedline…..

IWM Risk Off! Then we should shift to Risk on! Set-up: Primary Wave (2). Trigger: Daily. Should be a decent bounce off the Speedline. Count measures to $247. 86 next.

iShs Russell 2000 ETF Weekly Chart
iShs Russell 2000 ETF Daily Chart

DIA Risk Off! Maybe $345 then we head for news high quickly. Then, should be a fade to range low. Will get very choppy.

Dow Jones Ind. Avg. ETF Weekly Chart
Dow Jones Ind. Avg. ETF Daily Chart

TLT Flat! Primary Wave (B), looks like we continue to fill out the triangle. Time frames do not agree? Maybe we flush?

iShs 20+ Yr Treasury Bd ETF Weekly Chart
iShs 20+ Yr Treasury Bd ETF Daily Chart

Shooter’s Swing 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).

Set-ups

AAPL Risk Off! Heading for that $154 from last week. Will reload their! Upside count has not changed. They will squeeze the shorts at some point before year end.

APPLE INC

AMZN Flat: Breakout Candidate: Next Entry Window Long is $3473.86 now. Upside has not changed. However, online sale traffic dropped 8.7% so lower any expectations. Mind your stops! They will also squeeze the shorts into year end.

TIP Risk On! Breakout Candidate: Measure to $132.42, then $134.80 and beyond.

ATVI on watch for a Next Entry Long this week.

Term Disclaimers and Social Media

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

Follow Shooter on Twitter: @doplus