Trade Ideas October 9, 2014

 

Today's Swing Trade Ideas

TKMR/Long (Healthcare Sector Biotechnology) TKMR has been trending nicely from late July this year with little rallies and pullbacks.  It has recently pulled back to the 20-day simple moving average and formed a bullish harami yesterday.  The lower wick is not quite long enough to call a hammer.  A swing from yesterday's close to the recent high is about 25% -- excellent money in its own right and about 30% to a double-top test.  Most everyone in the Hit & Run Candlesticks trading room either owns it now or is considering it.  Thank you to all the members that have been talking about it and posting this ticker in the room.

My entry plan idea:   (Currently own shares at 23.20) Will consider adding more above the 20-day period moving average and on a breakout of the T-Line
My stop plan idea:  A close below 22.35

Beware Profit Traders we are entering earnings season

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

Good Morning,

SPY:  Wow!  I bet a few accounts turned green yesterday.  What an outstanding job the bulls did.  Now, let's all remember to say thank you to Mr. and Mrs. Fed.

Do you remember a couple of emails ago when I talked about a game we played as kids called "capture the flag"?  Well, as good as yesterday was and it was good, the bulls didn't quite get to the flag much less capture it.  The flag stands at the corner of $197.60 and the 50-day period  moving average.  Please don't get me wrong.  The outstanding day of yesterday in addition to a double bottom could be the reversal signal we've all been waiting for, but as big as the day was, confirmation is still required.

IWM:  A bullish engulf was painted in the ETF.  IWM also did an outstanding job by the IWM bakery team.  Hopefully today they will put the icing on the cake and close over the T-Line.  That would set IWM up to clear $110.32.  This would demonstrate a reasonably well-constructed bottom.

We have a few blog post you might be interested in;

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
10-8-14 Long Buy on positive trading
10-3-14 Long Buy on positive trading
10-2-14 Long Buy on positive trading
9-30-14 Long Buy on positive trading
9-25-14 Long Buy on positive trading
9-18-14 Long Buy on positive trading
9-17-14 Long Get ready
9-5-14 Long Closed yesterday
9-2-14 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 Buy on positive trading
7-8-14 Long Buy on positive trading

 

VXX S&P 500 VIX Short Term Futures:  A close below the T-Line ™ implies the bearish short-term swing traders are in control, Yesterday's candle implies sellers are present.

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 a possible bottom is starting to form.

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

Comments are closed.

Skip to toolbar