Today's Trade Idea
VIP Long: (Communication Services Sector Telecom Services) VIP has drawn a rounded bottom breakout starting about early June and has walked along the 50-day simple moving average and yesterday posted a bull kicker-type candle pattern. This candle pattern should attract more buyers to help drive price toward the 200-day simple moving average which is approximately 16% away.
My entry plan idea: Near $8.80
My stop plan: A close below $8.33
SPY: At 7 AM EST, the futures appear to be under a little pressure and at the moment the T-Line is looking a little vulnerable. The market could stand a controlled normal pullback; in fact, I think it would be good for the market. From the last bounce off of the 50-day moving average the 23.6% retracement would be about $195.60 which is near the 34 EMA, and the 38.2% retracement would be about $193.85 which is near the 50 SMA.
At the close yesterday, the buyers were in complete control closing above the T-Line while the T-Line continues to hold a position above the 20-day simple moving average and so on.
Today we’re going to see a few short ideas in our trade list. I think it might be time to start considering a few shorts added to our watchlist and maybe even a few in the portfolio.
Trading volatility -- an investing method typically employed in stock option trading measures the risk of an option over time; in theory, the chances of an instrument’s price being farther out from the current price increases over time. Thus, the volatility must be taken into account when selecting an option trade.
Three CBOE volatility indexes
1) The CBOE (Chicago Board of Options Exchange) shows the market’s expectation of 30-day volatility under the ticker symbol VIX. Based upon implied volatilities of the S&P 500 index options, it provides a broader measure of market risk. The VIX is also referred to as the “fear gauge” as stock investors reactions are visible in price movement. The VIX (CBOE introduced the VIX in 1993 based only upon eight S&P at-the-money put and call options, and expanded to cover S&P 500 approximately ten years after.)
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|Symbols for members only||Date||Long/Short|
|IMOS||7-16-2014||Long||Buy on positive trading|
|CSUN||7-15-2014||LONG||Buy on positive trading|
|EXTR||7-14-2014||Long||Buy on positive trading|
|DANG||7-11-2014||Long||Buy on positive trading|
|CODE||7-9-2014||Long||Buy on positive trading|
|TSEM||7-7-2014||Long||Nice day, Profit taking likely|
|SINA||6-26||Long||Buy on positive trading|
|BWP||6-16-2014||Long||Needs buy signal|
|ZBB||6-4-2014||Long||Buy on positive trading|
|IDIX||6-3-2014||Long||Did you take your profits|
|KNDI||5-13-2014||Long||Buy on positive trading, be a profit trader|
|Long||Consolidation in progress|
|ISR||4-14-2014||Needs a buysignal|
|AT||+8%||4-9-2014||Long||Profit taking under way|
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VXX S&P 500 VIX Short Term Futures : Yesterdaysclose below theT-Line ™ implies the bearish short-term swing traders are in control, yesterday's candlestick implies the bull may take a run at the T-Line
USO United States Oil Fund : Yesterdays close below the T-Line ™ implies the bearish short-term swing traders are in control. The Morning Star implies the buyers may be ready to take a run at the T-Line and 50sma
GDX Gold Miners ETF: Yesterdaysclose below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday's candlestick, the Harami thinks different.
TLT: Yesterdaysclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday's candlestick and the pattern the last 5 days implies a bullish set up pattern.
The above are just my thoughts to myself just thought I would share with everyone.
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