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Trade Ideas August 22, 2014

August 22, 2014 by Rick Saddler

Today’s Swing Trade Idea

(No Featured trade Idea today)
My entry plan ideas
My stop plan:

Good Morning,
SPY: The past two weeks the spy as well as the overall market has been outstanding for the bullish minded swing traders, day traders as well. The all-time new highs are quite an accomplishment. Yesterday in the trading room we talked a little bit about how a successful swing trader might trade in the direction of the current overall market trend and be 99% invested in that trend whether its bullish or bearish but always good to keep one eye on the flipside. If the market and the overall attitude is bullish the successful trader might want to keep the short trade scans and inverse ETF’s close by and handy in your toolbox.

What Is a PBO?

August 20, 2014 by Rick Saddler

What is a PBO? Is it a lead oxide? Is it a pension benefit obligation? Yes. In a trader’s world though, PBO stands for a pullback opportunity. A pullback opportunity is one of many patterns that a successful trader recognizes and executes.

Trade Ideas August 20, 2014

August 20, 2014 by Rick Saddler

Today’s Swing Trade Idea

TSEM (Technology Sector Semiconductors) TSEM is the featured trade idea and today I feel it should be featured because of the bullish trend that it has been in, the pullback that is finding support on the 50-day simple moving average with a double bottom, the last four days has formed a four-bar cradle pattern, not to mention that yesterday we gapped over a doji and closed over the T-Line and the 20-day simple moving average.

Trade Ideas August 19, 2014

August 19, 2014 by Rick Saddler

Today’s Swing Trade Idea

CHGG (Consumer Defense Sector Education and Training Services) Over the past few weeks, CHGG has printed a double bottom followed by a bull kicker that gapped over the big three. Recently CHGG has seen a little profit taking back to the T-Line for a PBO and is now trying to form a bullish J-Hook.