21 Feb Weekly State of the Markets and Swing Trading Ideas Report
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SWING TRADING OF 3X ETF’S , STOCKS, E MINI SP 500 FUTURES, AND GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION
Weekly Stock Market and Trading Strategies Report Week of February 22nd 2021
“I’ve mentioned it before, but it’s worth mentioning again. I’ve been a subscriber in three of Dave’s services – SRP, TPS and 3xETF for about a year now. Because I feel so highly in regards to Dave’s services and the performance I’ve experienced; my daughter, my brother and another friend have become subscribers to at least one of his services. I’m working on a couple other people as well😉 Dave thanks so much for all you do!” – 1/7/21- @JTD26 on Stocktwits
Notes on indicators and charts:
- SP 500 hits 3950 highs, below my 3996 target. Key time in market near term (Chart)
- Bitcoin running towards my $65,000 target, We sold some MARA though at 46 from our 20 entry at TPS
- 3x ETF service stay in cash this week as we MAY be near top of ranges, and not yet ready to short either
- 3823 low end key support on SP 500 uptrend, 3890 shorter term support as well
Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing options for members
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Another great week across the 4 services for members:
- SRP Closed out HZO for 11% gains on 1/2 and alerted a few new positions
- 3x ETF- In cash all week as I watch price action of indices and sectors before next alert
- ES Futures- Looking again for 3996, advised to go long early in week
- TPS- May put out research on Electric Vehicle related play soon, BIVI up 25% on Friday!
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and General Market Commentary
From 2/15 Weekly Report Notes last week:
“Of note, Bitcoin we are long the MARA stock (Bitcoin Miner) in the Tipping Point Stocks growth stock service from 18-23 ranges, now 39. I told members of TPS that was the defacto way to play Bitcoin going forward for gains and so far that is playing out. I have a Bitcoin chart updated this week as well with a $65,000 LOW END Wave 5 target on the intermediate outlook.”
We ended up selling 1/3 our MARA play at TPS because we were up over 100% from a $20 average at $46. 130% gains in under 60 days is a good spot to trim some of a position. That said, still seeing Bitcoin moving to 65,000 intermediately as the coin goes more and more mainstream. MARA Later hit $40 area the following day, but should rebound long term .This is the type of ongoing advice I give at tippingpointstocks.com, my wealth building service that aims for multi baggers on every position. (ATOM from 7 to 46 in 8 months a good recent sample).
Slowed down a bit at SRP in terms of new swing trades but I did put a few alerts out this week. Lets see how the market traders early this week.
Charts This week: SP 500 Daily , close to a move out of range. Watch 3894 and 3832 key support
Chart from Dec 27th Report repeated for reference: This was my projection back in late Oct 2020
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Each week I try to come up with some fresh ideas, repeats as well if they have not broken out yet, or I remove prior ideas if they already ran up.
Ideas with a combination of strong fundamentals and attractive behavioral pattern charts combined
CROC- 2 weeks tight closing base at 52 week highs. Manufactures men’s, women’s and children’s footwear made with proprietary resin material called Croslite.
ETSY- 3 weeks tight base near 52 week highs. Provides online and offl ine services which enable people to buy
and sell handmade goods via etsy.com.
INMD- 3 weeks tight base near highs. Israeli seller of radio frequency devices used in minimally &
non-invasive cosmetic procedures/women’s health.
HZO- 6 week tight near highs but moving up last week. We are 1/2 long at SRP having taken 9-10% gains early last week. 77 Retail stores in 21 states selling new and used boats, pleasure and fishing etc. 3rd week in a row on the list.
XPEL- 10 week ascending bullish base at or near 52 week highs, 4th week in a row on list. Manufactures and distributes after market automotive products in U.S, Canada, U.K and Netherlands. A bit extended so tight stop if you play. 3rd week in a row on base.
VIVO- Fell hard last week after hitting 10 year high, but testing 10 week EMA line which is still bullish. Develops diagnostic test for various diseases
SMG- 7 week base near highs. Manufactures lawn and garden products including fertilizers, plant
food and growing media/ control products.
MXL- 8 week overall base, close to breakout. A leading provider of radio frequency (RF) and mixed-signal integrated circuits, a 5G play
SHLS 3 weeks tight closing base and Post IPO pattern. Designs and manufactures electrical balance of systems solutions for solar energy projects, storage
YETI- 10 week flat base near highs. Designs, manufactures and marketing innovative and outstanding
PINS- 3 weeks tight closing base near highs. Provides a visual discovery platform that helps users to discover ideas
for various projects and interests (Pinterest)
TIXT- 3 week Post IPO base. Designs, builds, and delivers next generation communications solutions
MU- 7 week base near highs . Makes DRAM, NAND and NOR Flash memory, and image sensors used in computers, servers and consumer electronics
BEKE- 20 week overall base, Chinese provider of online and offline housing transaction services
HOME- 5 weeks tight base near highs. Operates 212 home decor stores across 39 states , averaging
about 105,000 sq.ft per store.
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