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
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
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.
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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|
|10-2-14||short||Caution/ gaping today|
|10-1-14||Short||Cover on strength|
|9-30-14||Long||Buy on positive trading|
|9-18-14||Long||Close on weakness|
|9-18-14||Long||Wait for buy signal/ long doji yesterday|
|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|
|8-14-14||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.
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