Swing Trade Ideas January 7, 2014

Today's Swing Trade Ideas

LOCO / Long (Restaurants)   LOCO was trading bearish for several days below the T-Line, and a low was put in on December 16.  Then for the next week or so, price moved sideways still underneath the T-Line with a slight dip creating a scoop pattern.  A tiny bullish Harami sparked a gap with another gap closing over the T-Line and the 20-day simple moving average.  The T-Line is currently 13% away from the 34 EMA.  If bought low enough, we can call this a pinball setup to the 34 EMA and on continued follow-through, there is a possible 25% profit to the 50-period moving average.

My entry plan idea:  Inside day buy below yesterday's high and above the T-Line
My stop plan idea:    A close back below the T-Line for now

Yesterday's featured trade idea ran 12.4%
Yesterday we sold:
AG for a 27.54% profit
GFI for a 14.69% profit
JNUG for a 27.77% profit
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Good Morning, 

SPY:  From a longer view, we still have a bullish trend, but the short-term trend or what I refer to as the swing traders’ trend iscontrolled by the sellers.  Price continues to trade below the T-Line, and it was not a bullish or a reversal signal at the close of yesterday.  The bearish "M" pattern that's trying to form in the SPY chart looks clearer each day.  A close below $197.86 and the "M" will be official.  When following candlestick signals, it's important to have patience and wait for a candlestick reversal signal or pattern to clue you in that a reversal or a bottom is forming.  If you look at your daily SPY chart, can you see the reversal bullish pattern?  Neither can I.  Therefore, in my humble opinion, I think the best action is to be patient, wait for the candlestick signal or pattern and trade because of that signal or pattern.

All of today's trade Ideas are long so here a few Inverse ETF's I am following if any kind of bounce has no legs.
Symbols from TC2000
NUGT
SOXS
TZA
FAZ
SQQQ

IWM:   IWM found support at the 200-period moving average but there is still not a bullish reversal signal or pattern.  Price continues to trade below the T-Line which suggests the sellers are still in control.  The current price level on IWM is very important right now.  If you take a look at your weekly chart, you can see that the 20-period moving average and the 50-period moving average have been moving together tight and close for the past few weeks.  The 20-period moving average has even slipped below the 50 for about a week, so if price continues to slip lower and drags the 20-period moving average below the 50-period moving average, that will be a clear sign that the bears are gaining ground.

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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.

Symbols formembers only % Date  Long/Short Try our Membership, Check out the Trading Room
1.6.15 Long Protect Profits
1.5.15 Long Watch for PBO
12.26.14 Long Watch for PBO
12.23.14 Long Close
12.22.14 Long Watch for PBO
12.19.14 Long Buy on positive trading
12.18.14 Long Watch for PBO
12.17.14 Long Close
12.10.14 Long Buy on positive trading above 20sma
12-2-14 Long Watch for PBO
11-7-14 Long Close on weakness
11-5-14 Long Buy on positive trading over 20sma
+14% 11-3-14 Long Watch for PBO
10-30-14 Long Wait for a buy signal
+35% 10-23-14 Long Close
7-8-14 Long Wait for confirmation

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.  Bullish finish Friday

TBT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control.  Possible bottom forming, short term.

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.

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