One of Today’s Featured Trade Ideas
TACO/Long (Restaurants) Del Taco Restaurants broke out big time in early March soaring to the $17 area. On May 20, profit taking started to plague TACO pushing price down below its 50-day simple moving average. For little over a month, price walked just underneath the 50-day simple moving average and has now closed back above the 50 SMA. TACO may be headed to retest the May highs, and from there it may be positioned to break out to new highs
I will be covering more on the trade plan (entry, stop, targets) in the trading room at 9:10 AM EDT today.
Click here to learn more
Something to think about:
Rule #27 Gaps are gifts
TACO Trading Plan (Entry, Stop, Target) Click Here
SPY: Keep your eye on the ball, and Friday’s ball closed below the big three headed for the 200 SMA. The evening star of July 20 is still driving price down. To me, the next logical targets would be the July lows and the 200 SMA. Last week’s candle on the weekly chart of the SPY ended up a Bearish Engulf. We should give it a little respect. On the members’ watch list today, we have both short and long chart patterns.
IWM: If the sellers can close the IWM chart below the July lows, we will have a bearish “h” pattern set up which suggests even lower lows.
SMH: SMH has successfully produced a bearish “h” pattern which should just lower lows.
IYT: IYT may be headed to test the July low as the bulls were unsuccessful to breach the downtrend line.
This Week’s Economic Calendar—> Click Here
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. Remember to check for earnings!
To see all of today’s trade ideas Click Here
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.
| Members only | Date | Long/Short | Try our Membership, Check out the Trading Room | |
| 7.27.15 | Long | BOPT above T-line | ||
| 7.22.15 | Long | Wait for signal | ||
| 7.21.15 | Long | BOPT above T-line | ||
| 7.20.15 | Long | BOPT above T-line | ||
| 7.17.15 | Long | BOPT above T-line | ||
| 7.16.15 | Long | BOPT above T-line | ||
| 7.15.15 | Long | CAUTION | ||
| 7.14.15 | Long | Stops protect/caution | ||
| 7.13.15 | Long | BOPT above T-line/caution | ||
| 7.9.15 | Long | BOPT above T-line | ||
| 6.23.15 | Long | Wait for signal | ||
| 6.17.15 | Long | Caution/BOPT above T-line | ||
| 6.12.15 | Long | Hit target | ||
| 6.11/7.1 | Long | BOPT above T-line | ||
| 4.28.15 | Long | BOPT above T-line | ||
| 7.21.15 | Short | Flip this to a short | ||
| 7-8-14 | Long | No trade |
VXX S&P 500 VIX Short Term Futures: A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish 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. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
SMH: A close above the T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
IYT: A close above the T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.
US Dollar Index: UUP, DXYO A close above the T-Line ™ implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. Learn more about the T-Line – Click Here
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.
Comments are closed.