Today's Trade Idea
DANG Long: (Consumer Cyclical Sector Specialty Retail) DANG has formed a double bottom on the 50 SMA and 200 SMA, closing yesterday with a Bullish Engulf after a multiple-bar pullback. With bullish follow-through and fairly decent market conditions, I'm looking for a 15% to 25% target.
My entry plan idea: Will buy a partial on an inside day
My stop plan: A close below the 200 SMA
SPY: Yesterday’s finished candlestick implies that the buyers are still in the building. Remember Rule #9, "candlesticks do not have to confirm the very next day"; however, they do need to confirm an implied bullish reversal. I think I'll be adding that to our trading rulebook.
Closing under the T-Line Implies, or at least it does from my personal trading, that the sellers are still in control of the short-term swing trade. If the buyers can push price above the T-Line, the buyers would be in control at that point. A close above the T-Line would imply that the buyers are now in control of the short-term swing trade.
For the week, the sellers have certainly won the battle, but overall from the first of the year the Bulls have won the war. Both the Bulls and the Bears will be scrambling to reach their goals. I suspect the Bulls would like to see $200 on the SPY chart while the bears would like to see about $192.65. Follow the chart and it will help you trade in the correct direction. $197.15 on the spy will give us a clue.
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|Symbols for members only||Date||Long/Short|
|7-9-2014||Long||Watch the T-Line|
|7-8-2014||Long||Buy on positive trading|
|7-7-2014||Long||Buy on positive trading|
|6-26||Long||Buy on positive trading|
|6-16-2014||Long||Buy on positive trading, have stops|
|6-4-2014||Long||Close on weakness|
|6-3-2014||Long||Did you take your profits|
|5-13-2014||Long||Buy on positive trading, have stops|
|Long||Buy on positive trading|
|4-16-20146-17-2014||Long||Watch for buysignal, have stops|
|4-14-2014||Watch for Doji signal|
|+8%||4-9-2014||Long||Needs to be over T-Line|
|+38%||2-25-14||200sma||Trade over T-Line|
***Members see the ticker symbols ---> Become a Member Click Here
VXX S&P 500 VIX Short Term Futures: The close over the T-Line ™ yesterday implies the bullish short-term swing traders are in control.
USO United States Oil Fund: The close under the T-Line ™ Yesterday implies the bearish short-term swing traders are in control. Yesterday's candlestick implies the buyers may be looking for a reversal
GDX Gold Miners ETF: The close above the T-Line ™ Yesterday implies the bullish short-term swing traders are in control. Yesterday's candlestick implies the sellers may be looking for a reversal
TLT: The close above the T-Line ™ Yesterday implies the bullish short-term swing traders are in control. Yesterday's candlestick implies the sellers may be looking for a reversal
The above are just my thoughts to myself just thought I would share with everyone.
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Members Trade Ideas - Members Only
July 11, 2014
Symbols from TC2000