Today’s Swing Trade Idea

Long: PEIX (Basic Materials, Specialty Chemicals) PEIX has had quite the bullish T-Line run in the recent pullback has produced a hammer followed by a bullish continuation. PEIX is currently fighting a double top if the buyers can outnumber the sellers in the bullish trend breaks through in continues I’m looking for a 30 to 40% move, small consolidations along the way and then even higher.

My entry plan idea: Will be to buy on positive trading above 19.01
My stop plan: T-Line stop

Good Morning,
SPY: The Bulls gave a little ground yesterday by allowing the Bears to paint a Bearish Engulf, not only engulfing Monday’s Doji, but also engulfing the T-Line and the 20-day simple moving average. I suspect we see a bit more energy from the Bears as they will be trying to crack the 50-day simple moving average. At some point within the next couple of days, we may see the Bulls step in and try to stop them.

IWM: The dreaded H pattern is still intact even though yesterday it stayed away from the recent lows and painted a Doji. For the bulls to remove themselves from the dreaded H cover, they will need to clear $115.65 while the Bears need to continue the dreaded H by closing below $112.23.

There are three ways a chart can move: either up, sideways or down. Up and down makes sense, and we can adapt and make money in those directions. When a chart is moving sideways in a choppy channel, it can be very difficult as you’re trying to stay afloat and not get wet in choppy water — very hard to do. Be cautious and remember that we don’t have to trade every day. You don’t have to buy something every day. Manage and monitor the positions that you are currently in by closing them or even adding to them based on the chart action.

EXEL featured on July 24 has produced about 15% so far, and it looks as if it’s going to move even higher — T-Line run.

AAPL, which was featured on July 8, continues to work a T-Line run headed for the $100 mark and then higher.

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VXX S&P 500 VIX Short Term Futures: Yesterday’sclose above theT-Line ™ implies the bullish short-term swing traders are in control, Yesterday’s doji candlestick implies consolidation

USO United States Oil Fund: Yesterday’sclose below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candlestick implies buyers are trying but not good enough, sellers still in control.

GDX Gold Miners ETF: Yesterday’sclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s Harami candlestick implies a tug a war between the buyers and sellers.

TLT: Yesterday’sclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candlestick implies 119-120 target

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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