Trade Ideas October 27, 2014

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

 

Good Morning,

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.

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
10-24-14 Long Buy on positive trading
10-23-14 Long Buy on positive trading
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 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%
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, 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.

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

Comments are closed.

Skip to toolbar