Moving right along. U.S. stock futures, ironically, are higher after Trump imposed another round of tariffs on China. This trade war is losing it’s bearish effect over the market which is a good sign the remainder of 2018 will be bullish for stocks.
—- IMPORTANT —-
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The IWM (Russell 2000 small cap index) is testing $169 support and while Monday’s candle was bearish engulfing, I think buyers will show up today and if I’m right, which I’ll gauge by the intraday trend, I’ll be active Tuesday.
I’ve hit about 27 wins out of my last 30 trades for over $30,000 in realized profit since going back to The Basics of Swing Trading and intend to continue to trade very disciplined through the remainder of 2018.
NMRD – Fibonacci retracement play here after shares skyrocketed from $2.12 to $3.98 recently. In play above $2.82 with breakout potential at the MA(200). Thinking 5,000 shares with a goal of $.50 / share or $2,500 profit in 1-4 days.
RADA – Very strong continuation pattern here with breakout potential above $3 and range to the middle $3’s before the next area of resistance. Strong volume recently suggests this trend has upside so I’ll play above the MA(50) and MA(20) looking for $.50 / share profit on 7,000 shares or $3,500 realized, might take more than 1-4 days though to deliver the win based on its history of trending.
—– Related —–
NBEV – News winner that’s latching onto the pot stock craze but from a beverage angle. I like this to the $3’s as a breakout above the middle $2’s. I’ll only be looking for entry into a dip, maybe using Monday’s opening range just above $2 for now as my pivot. Thinking 10,000 shares, maybe more as it’s very liquid with a goal of $.50 / share on the way to $3 into the breakout or $5,000+ in realized profit in 1-4 days.
[Ed. Note: Jason Bond runs JasonBondPicks.com and is a swing trader of small-cap stocks. In 2015 he earned a 180% return on his money. Then in 2016 he turned a $100,000 account into $430,000! Discover How He Did It]