Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
WB Short | Bearish Engulf | Blue Ice Failure
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
From a bear’s eye: The morning futures after a Trump win has us opening around the 200-sma on the SPY near the lower downtrend line. Continued weakness would take us to about $207.00ish. Breaking down below the lower trend line could also set us up for a test of near the JUNE lows.
From bull’s eye: The morning futures have us around the 200-sma possibly forming a double bottom. A close above $209.70 would suggest a run to about $215.25. Keeping in mind the trend is negative, so a bull trade on the SPY would be a relief rally trade only.
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These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
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