Trade Ideas November 6, 2014

Today's Swing Trade Ideas

SCOK/Long  (Basic Materials: Sector)  SCOK has pulled back from its October 20 gap filling the window and posting a Bullish Engulf yesterday.  From yesterday's close to the high of October 20 is approximately 30% of profit anyone could be happy with.  The chatter yesterday on SCOK in the trading room was positive alerting our members.

My entry plan idea:  (Currently own @ $3.26)  Will add on positive trading and above $2.61
My stop plan idea:    A close below $2.59

Good Morning,

CLVS:  CLVS was a featured trade idea back in August, and we have talked about it several times in the trading room over the past couple of months.  CLVS has hit our target and then some with about 29% and more if you swung the peaks and valleys.  Great job to those who traded CLVS.

SPY:   More consolidation in the SPY yesterday.  Basically the bulls and the bears are getting along or maybe trying...

SPY:   More consolidation in the SPY yesterday.  Basically the bulls and the bears are getting along or maybe trying to figure out what to do.  In the meantime, we investors realize that the last four candlesticks give us a reason to be cautious, and the bullish T-Line run gives us reason to hold our long positions.  For the last several days I've expected a profit taking pull back, nothing big, but nevertheless to the T-Line at least.  If the T-Line can support the weight and the bulls can manage to put together a reversal pattern, we could be set up for a nice “buy-the-dip” type chart pattern that could lead into a bullish J-Hook.  On the other hand, if the T-Line cannot support the weight, then we will need to watch price attitude near the 50-day simple moving average.

 IWM:  IWM has shown a little more weakness in the last few days than the SPY as it slowly drifts toward the T-Line, 200 SMA and the downtrend line.  The bulls have outweighed the bears for the last couple of weeks. You can see this as price has been trending above the T-Line creating what we call a “T-Line run.”  The T-Line run is a perfect fit for the swing trader.  You can simply enter the trade as price moves up through the T-Line and swing the trade until it closes back down through the T-Line unless it moves too far above the T-Line needing profits to be taken.

This Week's Economic Calendar---> Click Here

Members Trade Ideas -  Members Only

In the members area you will find 10-15 trade ideas every day

 

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.

Symbols formembers only Date  Long/Short Try our Membership, Check out the Trading Room
11-4-14 Long Watch the 50sma
11-3-14 Long Buy on positive trading
10-30-14 Long Doji, watch it
10-29-14 Long Buy on positive trading
10-27-14 Long Buy on positive trading
10-24-14 Long Hit target +28%/watch for PBO
10-23-14 Long Close on weakness below 1.93/watch for PBO
10-21-14 Long Buy on positive trading
10-20-14 Long T-Line run/Caution profit taking
10-17-14 Long Caution/follow the candles
10-14-14 Long Close on weakness/watch for PBO
10-9-14 Long Close on weakness/watch for PBO
10-2-14 Long Buy on positive trading
9-25-14 Long Yesterday be a profit trader/bearish engulf
9-5-14 Long Manage carefully
8-28-14 Long Buy on positive trading
8-14-14 Long Target hit + 35.5%/PBO/consolidation
8-13-14 Long Target Hit +29%/watch for PBO
7-8-14 Long Caution/think profits

VXX S&P 500 VIX Short Term Futures:  A close below the T-Line ™ implies the bearish short-term swing traders are in control, Yesterday's candle implies buyers and sellers struggling.

Energy Sector: XLE, SX90, ERX  A close above the  T-Line ™  implies the bullish short-term swing traders are in control.  The current candle pattern implies a possible bullish snap back.

TLT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control. Yesterday's doji and the last 6 candles implies consolidation.

The information in this email and Blog Post are notes to myself and should 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.

Skip to toolbar