Today’s Swing Trade Ideas

BSFT/Short (Technology)  On January 15, BSFT printed a bearish engulf that also engulfed the big three.  For the past week, price has just move sideways at the lower end of the trading range and yesterday printed another bearish engulf.  A break below $27.10 would set BSFT in motion to possibly retest the 200-period moving average.

Possible entry plan idea:  Weakness below $27.10
Possible stop plan idea:    A close above $27.30

Yesterday’s short on Yahoo worked out very well in the trading room and looks as if the selling may continue. Yesterday was a rough day, and most everybody had to reevaluate their trading account, maybe even close a few losing trades.  I did.  As you know, stock trading is risky, and there are some days that the bears win; please don’t let anyone tell you or convince you of anything different.  The score should be kept over a week or a month, not for one day.  We try to teach and educate in the trading room and do not advocate following anyone into a trade.

Good Morning, 

SPY:  It’s pretty obvious that I really don’t have to tell you how rough yesterday was if you are 100% bullish.  If you are able to shift gears and start catching afew shorts or inverse ETF’s as the market started to slide, you may have come out even or even ahead.  If you bring up a chart of the VIX (S&P 500 VIX short-term futures), you can see that there is a bit of fear in the market which will create volatility.

The SPY dropped 1.28% yesterday engulfing a Doji and closing below the 100 SMA and our lower wedge trend line. This is definitely putting the sellers in charge.  I sent an email out last night of possible lower targets that the sellers might try to attack, and unless the buyers can pull an organized plan together, the sellers will get their way.  Keep your eye on price action and price patterns.

IWM:  With yesterday’s bearish engulf that not only engulfed a price candle, it also engulfed the big three.  This is a favorite chart set up for shorting and based on yesterday’s candle and price action, the 200-period moving average in January’s lows are a very likely target.

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Members Trade Ideas –  Members Only

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

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits.

Longs & Shorts

Symbols from TC2000

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

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

Energy Sector: XLE, SX90, ERX, USO  A close below the  T-Line ™  implies the bearish short-term swing traders are in control.

TBT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control. This should change today, watch for a close over the T-Line.

US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control.

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

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.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.