Today's Swing Trade Ideas

ARNA/Long (Healthcare Sector Biotechnology) ARNA Is a RBB pattern with a hammer that hammered in the lows and now after an extended downtrend price is starting to lead the moving averages over the 50 day simple moving average back to a tradable bullish trend. The last six bars which have been consolidation bars as well as a bullish cradle pattern. The target will be near the 200 day period moving average which is about 30% away.

My entry plan idea:  On positive trading or a PBO (pullback opportunity)
My stop plan idea:    A close below the T-Line for now

Good Morning,

SPY: The bulls have successfully closed above the $197.60 resistance area and the SPY has formed a rare...

SPY: The bulls have successfully closed above the $197.60 resistance area and the SPY has formed a rare "V" bottom that closed back over the 50-day simple moving average. Well done, bulls! It doesn't mean the past 10 days of bullishness is a free pass for the bulls. Let's not forget about the uptrend line that the bulls fell through in early October. Yesterday's close put the bulls just under the uptrend line. They still have to open that door before they can reach the September highs. The most important action today is to defend the 50-day simple moving average area. I say “area” because if we were to see a little profit taking pull back to dip below the 50 SMA down to the T-Line, I wouldn't be too concerned. Whether you're looking at candlestick signals or bar charts, consolidation is allowed but bullish follow-through is a must. I will be using the 50-day simple moving average as the tipping point, and price action above the 50 SMA I will consider bullish; price action below the 50 SMA, I will consider bearish as this could turn out be a blue ice failure.

IWM: IWM has rallied up to what I call a deflection point -- a place where two trendlines can be drawn: one up and one down with price trying to break out at the point at which those two lines cross. Starting back in April of last year, you can draw a line up from the lows touching the August lows and then draw the line from the July highs down to the September highs. You can see they cross each other just above yesterday's closing price. Let's keep in mind that the bears have dominated IWM from early May this year.

BIDU - After shorting BIDU on October 9 covering on October 15 for a nice little profit, then went long above the 50 day simple moving average at $218.87. Currently up a little over 4% working on a target between 260.00 and 280.0

 

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Members Trade Ideas - Members Only

In the members area you will find 10-15 trade ideas every day

 

Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:

Symbols formembers only Date  Long/Short Try our Membership, Check out the Trading Room
10-27-14 Long Buy on positive trading
10-24-14 Long Buy on positive trading/think profits
10-23-14 Long Buy on positive trading/will close today
10-21-14 Long Buy on positive trading
10-20-14 Long T-Line run
10-17-14 Long Buy on positive trading
10-14-14 Long Shooting star/protect your profits
10-9-14 Long Close on weakness
10-2-14 Long Buy on positive trading
9-25-14 Long Buy on positive trading
9-18-14 Long Buy on positive trading
9-5-14 Long Wait for it
8-28-14 Long Buy on positive trading
8-14-14 Long Buy on positive trading
8-13-14 Long Target Hit +29%
7-8-14 Long Caution/think profits

VXX S&P 500 VIX Short Term Futures: A close below the T-Line ™ implies the bearish short-term swing traders are in control.

Energy Sector: XLE, SX90, ERX A close above the T-Line ™ implies the bullish short-term swing traders are in control. The current candle pattern implies buyers are trying to build a reversal bottom.

TLT: A close below the T-Line ™ implies the bearish short-term swing traders are in control. Recent candles implies 50sma may be the target.

The above are just my thoughts to myself just thought I would share with everyone.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

Rick

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