04 Aug Morning Positions, Trading Strategies, and Market Forecasts Report

This is a Typical morning pre market report sent out every day before the market opens to my premium swing trade subscribers since 2009 inception. I have hit 70% of the swing trades for profits since 2009 using my behavioral pattern and fundamental combination stock picking/trading strategies.

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Here is the August 4th morning report verbatim, this is what you see daily and we do SMS  Text alerts for buying and selling, as well as Email and Post

MORNING POSITIONS, STRATEGIES,  AND MARKET FORECASTS REPORT

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“By the way I want to thank you once again for the amazing service you are offering…Have been a member of SRP for more than 4 years and I really have no words…only huge respect and gratitude…my account keeps growing steadily and consistently…it’s really a blessing for me and my family…The 3xETF service is a huge additional value to my portfolio and I plan to join more of your services very soon…” Bill L.  1/3/22

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The Weekly Stock Market and Trading Strategies Report   was  published on July 31st  and should be reviewed to get up to speed.   Swing Trade ideas list was updated as well and at bottom of this morning report for more ideas!

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Morning Trading Strategy and Market Update Charts and Notes with Dave: 

 

SP 500/Market Updates: Larger Picture Dave Banister Elliott Waves Overview

• Bull Cycle Wave 1 likely topped at 3393 Feb 2020 due to Corona Virus
• Bear Cycle Wave 2 ended at 2191 on March 23rd
• Larger Bull Cycle Wave completed at 4818 2021 highs
• 3640 tested twice for double bottom short term (6/21)
• 4219 current HIGH END Resistance (8/1 update)

Market Notes/Charts:    4219 still on track for SP 500/Futures, QQQ Hitting my 324 area now

We may be near the end of this leg up, but if its a 3rd wave it still means a 5th wave to even higher levels is likely after a pullback. So we will continue with our aggressive Swing Trading.  We also took ALOT of profits this past many trading days which I tend to do into strength as you all know.

That said, I have 1-2 trade ideas looking at and hoping to alert one or both today

Futures are at 4162 and the Futures room is long from 4119 looking to take profits hopefully at 4200… and the 3x ETF room is still long LABU which is ripping over 25% last 2 days from the lows this week… we are now solidly in the green on that play.

SPX chart… Wave 3 says 4220 possible still

 

 

 

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Trading Notes:    Taking lots of profits into the rally but still seeing opportunities too. We Sold out of VUZI for 16% on final 1/2, closed out IMXI on the earnings pop for 13% or so profits , and closed AHCO as well for 13% gains this week. Whittling down open positions on purpose so we can open up some fresh alerts… so stay tuned 

BVNRY,  ATGE, EXEL all still long positions for swings.    ATGE pulled back on an analyst downgrade which I usually don’t pay attention to, BVNRY we sold 1/2 for 13% gains already, and it’s holding the 18.30 area from 16.45 entry on final 1/2 for now we stay long there, and EXEL is in a long base but I still think can break out.  Swing Trade positions make their biggest moves in short time frames, sometimes we sit for 2-3 weeks and nothing then news and boom… patience is key to long term success swing trading!!

Maintain long on all positions and just follow the stops near close  of trading day.  Watch the 8% sell 1/2 rule as usual on all positions.

New updated swing trade ideas list also at bottom of  report. Often I pull 1-3 off this during the week but also list it for members to have more ideas to check on as well.

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TABLE OF CURRENT OPEN POSITIONS LINK:  ONLINE LINK 

Trading Results Tab  ( View closed out trade results)

Current SRP Swing Allocation Model:  1 Half size position, and 2 Full size positions open plus GANX bonus longer term hold/swing.   

Reminder: Sell 1/2 rule  if up 8% or more:

If any swing trade is up 8% or from average entry, sell 1/2 of the position with or without our alerts, so bear that in mind. We will obviously do our best to get the alerts out on SMS and Email but just be aware of the SRP Rule going forward. 

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 Swing Trades:

Positions in buy ranges or close:

7/26- ATGE- 10%, Max Buy 40 add to 38.50, Stop 36.40 Near Close, Target 44.50 plus

7/18- EXEL- 10%, Max buy 22.10 add to 21.25, Stop 20.50 Near Close, Target 26.80

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 Out of Buy Ranges and/or Not Adding if we sold 1/2 on profit taking

7/29- BVNRY- 5% Remainder, sold 1/2 for 8% plus on 8/1 at 18 plus. Max entry 16.80 add to 16. Stop 14.40 Near Close, Target 23.40 for 40% possible

Updated List 7/31/22-  Updated list for the near term and intermediate window ahead based on sectors, individual stock fundamental strength, and Banister Behavioral Patterns lining up for strong probable upside.  

SWING TRADING 101– Click to review my 10 plus keys to profitable and consistent swing trading I’ve used since 2009

CRDO- 26 week Post IPO base pattern, could break to highs soon. Provides Serializer-Deserializer technology, high-speed connectivity solutions to break bandwidth barriers.

ARIS- Post IPO base pattern, could break out of 9 week cup pattern to highs. Provides infrastructure and solutions to directly help Oil and Gas customers reduce their water and carbon footprints Earnings due Aug 3.

DRVN- May be breaking out of a base pattern soon to highs. Provides automotive services like paint, collision, glass, vehicle repair, oil change, maintenance/car wash.

HRMY- 6 week overall base, pulled back recently but still bullish chart. Five weeks in a row on the list, moving up but still attractive. Ascending base near highs.   Develops and commercializes therapies for patients living with rare neurological disorders. PE 23  Earnings Due Aug 2

AMN- 5 week base near highs. Recovering from prior week drop from 124 to 110.  As long as 110 area holds also OK.   Offers permanent and temporary staffing of physicians and nurses to healthcare facilities in the U.S. PE 12  Earnings due Aug 4th, have beat estimates 7 quarters in a row. Analysts looking for 2.97 per share profit.

CCRN- On the list again, 3 weeks consolidation, but it did finally pullback two weeks ago, and again may offer better entry here.  30.51 high to 25 area on a week agoFriday, as long as it holds 23 area should be ok. Could push again here to test highs of 30.xx   Earnings due Aug 3rd

DQ- 2 weeks in a row on the list, nice consolidation here. 6  week overall base holding the 10 week ema line still. China-based company that manufactures and sells polysilicon to photovoltaic product manufacturers.

CELH- 4th week in row on list.   Could still challenge 102 area ahead. Develops and markets functional calorie-burning fitness beverages under the Celsius brand in U.S.  Seems like a takeover target to me

ATGE- SRP Position now, 3rd week in row on list and has been alot of late. 5 week ascending base this one keeps ticking higher with low PE ratio. Provides post-secondary education to students via 22 locations in 11 states and internationally.

AMPH- 4 weeks tight consolidation, could make a move. Develops, manufactures generic and proprietary injectable,
inhalation and intranasal products. Earnings due Aug 9

AXNX- 4 weeks tight closings, earnings due Monday. Develops, and commercialization of sacral neuromodulation
solutions treat patients with overactive bladder

EQNR- 16 week base, close to breakout to highs. Norwegian Co engaged in exploration/production of oil and gas and
refining/marketing of petroleum products. 6 Billion share buyback, dividends going way up, smashing estimates. 2nd largest european producer of Natty Gas

CEG- Close to Post IPO base breakout to highs. Earnings due Aug 4. Provides power, natural gas, renewable energy, and energy management products and services in U S.

EVH- 4 weeks tight closings, could break to the upside here near 52 week highs. Develops end-to-end, built-for-purpose, technology-enabled service platforms for value-based healthcare. 2nd week in row on list

PBRA- Close to breakout to highs. Brazil-based company engaged in the exploration, refining, production,
and distribution of oil and gas.

Read up on my various offerings to take advantage of Bull and Bear cycles in the markets below or at Themarketanalysts.com 

 

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