The sell-off last month echoed a wave of fear that gripped financial markets as investors thought the crisis in Europe could derail the global economic recovery. A gauge of investor fear jumped more than 18 percent two weeks ago. However, this tradingweek was full of opportunities for swingtraders and daytraders on the long side. It is rather unusual to see this kind of activity going into the summer, but as a trader you have to be prepared EVERY DAY AND DO YOUR HOMEWORK because no one knows what will happen next. This trading week proves again that trends in the markets can go longer and stronger than many people assume and it also shows that people can go from very bearish to euphoria very quickly. Price action overruled everything. Economic reports, opinions of money managers on CNBC, Bloomberg and Newspapers were all worthless information. I was able to make nice profits listening to no one around me and look at my charts and the best stocks in the market and trade the patterns I know lead to significant higher prices in stocks this week. In fact, I saw so many stocks setting up that I had a hard time tweeting everything I did (I usually try to update you through my Facebook account and my Twitter Account with more detailed entries and exits on my trades) as this market kept me very busy and I also had to do some studying for my university. I was trading in and out of 5 to 10 stocks during the trading day, trying to scale in and out at the best prices in the best stocks with the strongest relative strength on above average volume. My best trade happened to be a trade in Mastercard (MA), where I caught a full 20$ intraday (!) move in my daytrading account and also held a small position in my swing account after news about credit cards came out. You find more information on this news here

I scaled out of 80% of my longs before the close on friday as we are currently extremely overbought, but I will look to scale back in with more size if we see some healthy digestion moves in the next few days and I see tradable patterns. I am currently holding the following stocks with tier one and might add size again next week: $APKT $HLF $SOHU $TIF

Here are some stocks I am watching for next week:

Über den Autor

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