SPY Thoughts June 6

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Change is inevitable. Growth is optional.” – John Maxwell

A really nice day as we saw stocks continue to move and a few new ones we’ve been eyeing really took off from buy levels.

The indexes really began to move and with strong volume.

Superb action today that we are taking advantage of and have been looking for.

We added more to BIDU CLVS ILMN today and we’re still holding FLEX REGN and GOOGL while we started new positions in AMZN and VIPS
REGN isn’t working great yet but not showing a loss either.

We should be able to hold these stocks for a few days at least but we are still completing bases so shorter swing trades are still what I see as the best way to maximize gains in this market.

I’m heavy in stocks now but that can change quickly, just as I bought them quickly, on any sniff of trouble.

I have no qualms booking gains quickly and the worst that can happen, aside from massive gaps lower, is I get stopped out for smaller gains or cost.

I really don’t like having any more positions than this on at once, so now it is about watching and managing these positions.

Real-Time members are seeing me take these trades at the right time and  are with me on them and happy!  Find out more about joining at http://wizzentrading.com

Let’s check right into the charts, beginning with the index charts before we look at specific stocks in the members only section.

June 6, 2014SPY broke my 193 most recent buy level yesterday and has now accelerated higher on increasing volume which is key.

Looks good to me and the 196 to 198 area is in play now and quickly at this rate.

We should rest and consolidate once we hit that area but I have to see the action at those levels to know which level will be hit.

All in all, a great day and we should see many more of these over the summer.

Enjoy your evening.

Warren

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