Trade Ideas October 23, 2014

Today's Swing Trade Ideas

ISNS/Long  (Technology Sector Software Application)  ISNS is setting up to possibly be one of our Rounded Bottom Breakouts (RBB).  It hasn't broken out over the 50-day moving average yet, but if it does, it could easily run to the 200- period moving average which is about 15% from the 50-period moving average.  ISNS has been trading in a bearish manner for a few weeks.  A few days ago, a Bullish Engulf was printed followed by a couple of Doji's and then another very small Bullish Engulf with a volume breakout, yesterday’s close over the T-Line and the 20-period  moving average.

My entry plan idea Below 3.33 and above the T-Line

My stop plan idea:   A close below the T-Line

Good Morning,

SPY:  Yesterday, a bearish dark cloud cover was printed on the SPY after reaching a new high into resistance.  A bearish dark cloud cover does not necessarily mean...

that the sellers are going to run completely over the buyers; however, it does indicate that the recent bullish trend may be running out of fuel.  A way to get more fuel is from a minor profit taking pull back.  As a little side note, please remember that candlesticks require confirmation.  In a perfect world, I would like to see a profit taking pull back to about $190.30, a bullish reversal signal and then rally up through $194.91 or yesterday's high.  If the buyers cannot control the profit taking at $190.30, well, we could have a problem.

IWM:   Yesterday's print was a bearish engulf and a bearish engulf is suggesting a lower low today.  $108.10 will be an important area for the Bulls to defend and the bears to get through.  A close below $106.95, whether it be today or tomorrow, would put the October lows in jeopardy.  If you've been in the Hit & Run Candlesticks trading room, you know that we've been saying that the recent bullish relief rally could not possibly continue without at least a profit taking pull back.

There are simply two scenarios:  one being bearish with price cracking the October low; the other being bullish where we have a light profit taking pull back creating a Pullback Opportunity (PBO) and then another bullish rally closing higher than $111.06.  Of course, then we have to deal with the 50-period  moving average as well as the 200-period moving average.

What is a PBO?  Click Here

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
10-21-14 Long Buy on positive trading
10-20-14 Long Profit taking
10-17-14 Long Buy on positive trading
10-14-14 Long Buy on positive trading/protect your profits
10-9-14 Long Caution
10-2-14 Long T-Line stop/Caution
9-30-14 Long Buy on positive trading/watch for profit taking
9-25-14 Long Buy on positive trading
9-18-14 Long Buy on positive trading above the 50
9-5-14 Long Buy on positive trading
8-28-14 Long Caution
8-14-14 Long Buy on positive trading
8-13-14 Long Buy on positive trading/protect profits
7-8-14 Long Buy on positive trading/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 sellers are in control.

USO United States Oil Fund:  A close below the  T-Line ™  implies the bearish short-term swing traders are in control.  The current candle pattern implies buyers are trying to build a short term bottom.

TLT: A close above the  T-Line ™ implies the bullish short-term swing traders are in control.  Recent candles implies consolidation and sellers are in control.

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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