Trade Ideas October 14, 2014

Today's Swing Trade Ideas

ALNY/Long (Healthcare Sector Biotechnology) ALNY Has printed a bull kicker candlestick chart pattern gapping over the 20 day period moving average and the T-Line. When you're looking at the chart notice the bullish W pattern starting in March. I'm looking for a 30% gain plus to the January 2014 high

My entry plan idea:   I will be watching for a PBO buy and above the 20 day period moving average.

My stop plan idea: A close below the 20 day period moving average

Beware Profit Traders we are entering earnings season

Hit & Run Candlesticks Members: A list of Ebola Related Stocks have been posted in the members area, "Members Resources", "Components For ETF's and Indexes" look all the way to the bottom.

Good Morning,

SPY: Early in the day yesterday, it looked as if we were going to print a doji, and a doji day after the recent selling might have been a sign for a little relief rally. But then again, the candlestick wasn't being painted, and it ended up looking like the painter just let the paint run down his canvas. A new low was posted in the SPY, and yesterday's candle saw only sellers at the close. Once again, don't rush the market. Let the chart and the candlesticks guide you.

The SPY is now below the 200-period moving average as well as IYT (transports ETF), SMH (semiconductor ETF) and FAS (financial bull ETF). I am starting to see a great deal of damage in the overall market, and I think we’re past the "buy-the-dip-type trading." This dip has gone too far, and a good old-fashioned correction is in place which means we need to see a good old-fashioned bottom constructed before we start dreaming about bulls.

For the most part, stay short, and be careful not to chase. The shorts are getting a bit oversold, and a possible relief bounce is expected soon. Inverse ETFs are a bit stretched.

Don't be afraid of a quick action swing trade longs such as NSPH. Here in the trading room we bought and sold NSPH for a 41.12% gain yesterday.

 IWM: IWM still looks sick, a close below the T-Line, no bullish signal in sight and definitely no bullish reversal pattern. It’s oversold enough to possibly see a relief rally, but don't get too excited.

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

 

Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:

Symbols formembers only Date  Long/Short Try our Membership, Check out the Trading Room
10-9-14 Long Buy on positive trading
10-3-14 Long Close and wait
10-2-14 Long Close and wait
9-30-14 Long Buy on positive trading
9-25-14 Long Buy on positive trading
9-18-14 Long Close and wait
9-5-14 Long Manage trade be a profit trader
8-28-14 Long Caution
8-14-14 Long Buy on positive trading
8-13-14 Long Close and wait
7-8-14 Long Buy on positive trading/Caution

 

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 are in control, consolidation likely very soon.

USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. The current candle signal implies a possible short term bottom is starting to form, double doji's.

TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday's candle implies buyers are still in control, a little extended over the T-Line.

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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