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 a Continue Reading

Today’s Swing Trade Ideas

FNSR/Long (Communication Equipment) FNSR After the bullish Harami and rallying from the 50 period moving average to the 200 period moving average FNSR pulled back with a to bar low and closed with a bullish piercing candle with bullish follow through clearing the 19.95 area 810 to 25% swing move is possible

Possible entry plan idea:  Positive trading over 19.95 or my personal favorite just simply on an inside day
Possible stop plan idea:    For now a close below the T-Line
Good Morning, 

SPY:  With yesterday’s gap down Doji closing in the middle of our symmetrical wedge we will need to rely on the close of the day.  Will today’s close be bullish Continue Reading

Today’s Swing Trade Ideas

EXK/Long (Silver) EXK has had a 62% run since late December and about a 30% swing from its last pullback.  EXK printed a bullish piercing candle yesterday, opening below the T-Line and closing above the T-Line.  This is what we call a PBO (pullback opportunity).  EXK is also a set up in one of my favorite chart strategies called the Rounded Bottom Breakout with 20 to 40% possible profit ahead of it.

Possible entry plan idea:  Positive trading over the T-Line
Possible stop plan idea:    Yesterday’s low, $2.66

Recent RBB Setups
LAYN 31%
ADHD 80%
AU 26%
EXK 30%  Read more about RBB’s

Good Morning, 

SPY:  And at the time that I’m writing this, the morning futures are showing a weaker open compared to the close yesterday.  I would also suspect due to the Continue Reading