Trade Ideas October 31, 2014

Today's Swing Trade Ideas

GALT/Long  (Healthcare sector drug manufacturers)  GALT Looks poised for a run positioned in a Rounded Bottom Breakout (RBB) and a Doji continuation pattern or Doji sandwich.  $6.50 would make a good target which equals about 18 1/2%, then about $7.70 which is about 40% away.  At that point, we will then consider the 200-day simple moving average.

My entry plan idea:  Below $5.49 and above the T-Line would be my preference; buying above $5.49 would also work.   Just monitor the pullback.
My stop plan idea:    A close back below the T-Line

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Good Morning,

SPY:  Yesterday's Bullish Engulf close in the SPY was also a Doji continuation pattern, or you might know it as a Doji sandwich.  All this occurred right at the 50- day simple moving average.  From a probability standpoint, this combination of candlestick signals is a bullish signal.  Price continues to trade above the T-Line and the bullish trades are working well.  The next number the bulls need to run down will be the September high of $201.90.  Above $201.90, it is possible the SPY could be looking at $215 or higher.  Of course, if the bulls are going to continue to run, they will also need to show strength and follow-through.   A good bullish run has peaks and small valleys, thus higher highs and higher lows.  Small profit taking pullbacks and consolidation are not only allowed, but they are expected and needed.

 IWM:   $114.80 was a big number for the IWM bulls to cut through.  They did beat it by seven cents and a strong close today could make that number only a memory.  The next three numbers for IWM to beat are $115.91, then $116.73, then 117.80.   Keep your eyes on the bullish T-Line run.  A close below the T-Line would imply a little more than profit taking but only a correction to support at this point.  A big rally too far away from the T-Line would imply profit taking is likely to come in.  Notice how today is gapping and maybe getting too far from the T-Line.  This is where profit taking may occur over the next day or two.

 

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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
10-29-14 Long Buy on positive trading
10-27-14 Long Buy on positive trading
10-24-14 Long Buy on positive trading/think profits
10-23-14 Long Close on weakness
10-21-14 Long Buy on positive trading
10-20-14 Long T-Line run
10-17-14 Long Caution/follow the candles
10-14-14 Long Close on weakness
10-9-14 Long Close on weakness
10-2-14 Long Buy on positive trading
9-25-14 Long Buy on positive trading
9-18-14 Long Watch for PBO
9-5-14 Long Buy on positive trading
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.

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 buyers are trying to build a reversal bottom.

TLT: A close below the  T-Line ™ implies the bearish short-term swing traders 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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