Today’s Swing Trade Ideas

RIG/Long (Energy oil and gas drilling)  A rally started on January 14 followed by a pull back on January 28 and 29th.  Then a Bullish Engulf was printed for a PBO followed by a rally that closed over the 50-day simple moving average creating a Rounded Bottom Breakout.  RIG is poised to move higher with PBO corrections along the way.

Entry, Stop & Profits for RIG will be discussed at 9:10 AM Eastern in the Trading Room

Yesterday we gave you MILL for a 18% gain
Yesterday PWE for a 11.7% gain
A week or so ago we gave you LPI for a 30% gain
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Good Morning, 

SPY:  The SPY continues to trade in a range from early January to now, both buyers and sellers are being held in the box.  So who’s winning in the box?  Well, let’s see.  Price isover the big three moving averages (Bullish), while the 20-period moving average remains below the 50-period moving average (Bearish).  The intraday for our charts is above the 200-period moving average which gives me a slight bullish bias.  As I sit and look at our naked chart, candlesticks only, I have drawn one horizontal line laying on top of the September 18th close all the way to the right edge.  It fits nicely with bullish and bearish opens, closes, lows and highs.  This is the line I’ve drawn to determine who’s winning the fight between the buyers and sellers.

IWM:   IWM has maintained its close above the big three for the past five trading days.  The two-bar pull back we see has held above the T-Line, and for this reason, the Bulls have a slight edge over the bears.  Yesterday’s close was far from stellar, so today will be important for the bulls to maintain their edge and the bears to take it away.

VXX:  This is something not to take lightly as the minor bullish/bearish moves of price can be deceiving.  The S&P 500 VIX Short Term Futures (VXX) has managed to print a Bullish Golden Cross (the 50-period moving average crossing from underneath to above the 200-period moving average).  Also, take note of the higher lows starting in early December.

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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.

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 above the  T-Line ™  implies the bullish short-term swing traders are in control.

TBT: A close above the  T-Line ™ implies the bullish 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.