Trade Ideas October 7, 2014

 

 Today's Swing Trade Ideas

TZA/Long (Small Bear ETF)  TZA was a featured trade idea on September 5 of this year.  A cool 26% could have been yours before the bearish harami on October 2.  TZA has now pulled back to the T-Line forming a doji followed by a bullish engulf.  This is what we at Hit & Run Candlesticks call a PBO (pullback opportunity).

My entry plan idea:   Buy above 17.14

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

Member E-Learning
Tonight's member e-learning will be held live at 5:30 PM Eastern and we will recast the members E-Learning at 8 PM Eastern.  Both will be in the live trading room.   Good Profit Trading - See you in the Room

 

Good Morning,

SPY:  No flag for the SPY.  Last week in the live trading room we talked about how the SPY and the overall market would likely post a relief rally, and so it did.  The sellers still control the SPY and will continue until there are higher highs and higher lows made.  If the bulls lose $195.00, there could be a big problem, and if the bears lose $197.60, the bulls will dance in the street.  So these are two very important numbers.

IWM:  IWM couldn't even crawl over the T-Line much less close over the T-Line.  At this point, IWM is absolutely controlled by the sellers.  Price below the T-Line and the big three have flipped bearish and below the 200-period moving average.  Yes, there is still a chance for a double bottom near the $107.50 area.

Two other charts that I’m interested in are IYT, the Transports ETF, and SMH, the Semiconductor ETF.  IYT printed a big bearish engulf yesterday engulfing not only a candlestick but the big three moving averages.  IYT is poised for a blue ice failure.  SMH is still having trouble with the T-Line and plagued by the bearish engulf on September 19.  The SMH chart is also forming a blue ice failure.

Beware Profit Traders we are entering earnings season

Members Trade Ideas -  Members Only

In the members area you will find 10-15 trade ideas every day

 

This Week's Economic Calendar---> Click Here

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

Symbols formembers only Date  Long/Short Try our Membership, Check out the Trading Room
10-3-14 Long Caution
10-2-14 short Caution/ gaping today
10-1-14 Short Cover on strength
9-30-14 Long Buy on positive trading
9-29-14 Long close
9-18-14 Long Close on weakness
9-18-14 Long Wait for buy signal/ long doji yesterday
9-17-14 Long Get ready
9-5-14 Long Buy on positive trading
9-2-14 Long Buy on positive trading
8-28-14 Long Watch for buy signal/caution
8-19-14 Long close
8-14-14 Long 50sma support? Watch for buy signal
8-13-14 Long Buy on positive trading
7-31-14 Long close on weakness
7-8-14 Long Buy on positive trading/ Caution

 

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control, Yesterday's piercing candle implies bullishness.

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 buyers are interested.

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.

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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