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FANG Stocks Are Bouncing

Published 06/29/2016, 04:01 AM
Updated 07/09/2023, 06:31 AM

Ah, I love summer with music festivals and lazy hazy days with some trading smattered into the mix.

We’re set to bounce now from what I see and I’m into quite a few stocks now with 10% weighting into each of the following: SPDR S&P 500 (NYSE:SPY), Gilead Sciences Inc (NASDAQ:GILD), Facebook Inc (NASDAQ:FB), Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL), Tesla Motors Inc (NASDAQ:TSLA), Netflix Inc (NASDAQ:NFLX), and Acacia Communications Inc (NASDAQ:ACIA).

I held overnight and am looking for some strong bounces into the end of the week.

I’m still looking at these trades as being swing trades and I am not giving them much room for stops.

SPY Daily Chart

A nice move off the 200 level and 200 day average area made me buy a 10% weighting at 202 late today.

Stops are right around cost and I’d like to lock in gains at 207 or higher if the trade lets me.

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