Today's Swing Trade Ideas
SPEX/Long (Industrial Sector Business Services) SPEX has been forming a fry pan bottom for the last four months and recently closed over the 50-day simple moving average on volume. It then consolidated for a few weeks and is now back over the 50-day simple moving average with the T-Line and the 20-day simple moving average following price. With the close of Friday, we have formed a rounded bottom breakout. With about 90% possible profit to the 200-day simple moving average, SPEX could be a profit maker. Back on September 30, I did buy and have continued to hold. As of Friday's close with a 12% profit, SPEX is now set up to grab a good piece of that 90% possible profit.
My entry plan idea: (Already long) Buy or add more on an intraday pullback
My stop plan idea: A close below the 50-day simple moving average for now
SPY: I would suspect that all eyes will be watching what price does with the...
SPY: I would suspect that all eyes will be watching what price does with the 50-day simple moving average. I know I certainly will. This could be a crossroads for both the buyers and sellers. Whether it's today or the next few days, for the bulls to get anywhere, they need to own the 50-day simple moving average, and if the bears want to continue on the next leg down, they need to stop those bulls. So again, the 50-day simple moving average on the daily chart will be an extremely important area for both the buyers and sellers.
IWM: The recent countertrend relief rally in IWM also closed last week shy of the 50-day simple moving average. Please note that the 20-day simple and 50-day simple moving averages are both trading below the 200-day simple moving average on the daily chart. What this tells me is the sellers still control IWM. On a positive note, the recent countertrend relief rally has made many short-term swing traders happy; however, I do think it's time to go into a protective mode to protect your recent profits until we know for sure that the 50-day and the 200-day moving averages can be breached.
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Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:
|Symbols formembers only||Date||Long/Short||Try our Membership, Check out the Trading Room|
|10-24-14||Long||Buy on positive trading|
|10-23-14||Long||Buy on positive trading|
|10-21-14||Long||Buy on positive trading|
|10-17-14||Long||Buy on positive trading|
|10-14-14||Long||Buy on positive trading/protect your profits|
|10-9-14||Long||Close on weakness|
|10-2-14||Long||Buy on positive trading|
|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|
|9-5-14||Long||Buy on positive trading above 50sma|
|8-28-14||Long||Buy on positive trading|
|8-14-14||Long||Buy on positive trading|
|8-13-14||Long||Target Hit +29%|
VXX S&P 500 VIX Short Term Futures: A close below the T-Line ™ implies the bearish short-term swing traders are in control, Current candle pattern implies the buyers are very interested, needs follow through.
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 below the T-Line ™ implies the bearish 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.
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