Today’s Swing Trade Idea
FREE (Industrial Sector Shipping and Ports) Be very careful here; this trade is not for everybody and is meant to have a little fun with. It’s a cheapie that can be wild and crazy. FREE has started to construct a bottom starting July 23, laid some foundation and then started to rise Wednesday closing over the 50-day simple moving average yesterday. This has made FREE a rounded bottom breakout candidate with about 30% short-term profit potential. As mentioned above, be careful with this one as it can turn and be painful. This type of trade is not for everybody.
My entry plan idea: (Bought yesterday at $.71) My plan will be to add to it on anything below yesterday’s high and above the 50-day simple moving average.
My stop plan: A close below the 50-day simple moving average
Good Morning,
SPY: The bulls have worked hard on this recent relief rally, and yesterday they closed over the 50-day SMA. Today I suspect they will continue their journey into the gap area. The two-stretch objectives for the bulls today will be to find the $196.40 area and possibly the $197.00 area. I would be perfectly happy with their objective to simply be another close over the 50-day simple moving average.
IWM: Should see numbers above the 200-day SMA today and could possibly test the 50-day SMA; that would also be about the 50% retracement from the July high and the August low. I still think this is a countertrend relief rally in a bear trend from early July. Please don’t let this relief rally scare you into not trading; you simply have to look for the signals to clue you in on the turns. I can help you find the turns and will post in the emails you receive daily. You can learn about the turns faster by being a member and in the trading room.
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| Symbols formembers only | Date | Long/Short | ||
|---|---|---|---|---|
| 8-14-2014 | Long | Buy on positive trading | ||
| 8-13-2014 | Long | Buy on positive trading | ||
| 8-12-2014 | Long | Buy on positive trading | ||
| 8-7-2014 | Long | Close | ||
| 19% | 8-6-2014 | Long | Possible PBO setting up/Caution/ did you have a stop | |
| 7-31-2014 | Long | Buy on positive trading | ||
| 8.2 | 7-30-2014 | Long | Buy on positive trading | |
| 7-29-2014 | Long | Be a profit trader!!!!! | ||
| 7-24-2014 | Long | Buy on positive trading | ||
| 8 | 7-23-2014 | Long | Buy on positive trading | |
| 7-22-2014 | Long | Buy on positive trading | ||
| 7-17-2014 | Long | Caution/Buy on positive trading | ||
| 7-15-2014 | LONG | Buy on positive trading above 50sma | ||
| 7-14-2014 | Long | Buy on positive trading | ||
| 30 | 7-11-2014 | Long | Close | |
| 7-8-2014 | Long | Buy on positive trading | ||
| 7-7-2014 | Long | Caution, Buy on positive trading | ||
| 6-26 | Long | Caution, Buy on positive trading | ||
| 6-16-2014 | Long | Resistance, Buy on positive trading | ||
| 6-4-2014 | Long | Buy on positive trading/caution | ||
| 5-13-2014 | Long | Close for now | ||
| 4-14-2014 | close | |||
| +8% | 4-9-2014 | Long | Buy on positive trading | |
| +38% | 2-25-14 | 200sma | Close |
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VXX S&P 500 VIX Short Term Futures: Aclose below theT-Line ™ implies the bearish short-term swing traders are in control, Yesterday’s candle implies we could be nearing a PBO, no sign yet, nearing support
USO United States Oil Fund: Aclose below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candle implies sellers are in control.
GDX Gold Miners ETF: Aclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle Implies profit taking, watch the T-Line.
TLT: Aclose above the T-Line ™ implies the bull short-term swing traders are in control. Yesterday’s candle implies the bullish trend is healthy for now.
The above are just my thoughts to myself just thought I would share with everyone.
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.
— Rick
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Keep the inverse ETF’s close by and watch them closely they produce good money, fast
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