Trade Ideas September 17, 2014

Today's Swing Trade Idea

REXX (Energy Sector Oil and Gas) REXX started its move in early August with a run to the 50-day simple moving average pulling back slightly and closing over the big three on September 15 and showed follow-through yesterday with about 17 1/2% to the 200-day moving average. REXX is looking like a chart we could profit from. Note the energy sector is forming a bullish morning star signal.

My entry plan ideas: To buy above $14.71, yesterday's low
My stop plan: $14.54

Good Morning,
SPY: Yesterday the SPY painted a bullish engulf in the candle pattern for the last three days and is a bullish morning star pattern. From early August to early September, the SPY has seen a 5.6% increase with a 1.5% correction in the last couple weeks, falling below the 23.6% retracement. Now the bullish morning star setup has found support on the 34 EMA, and yesterday’s bullish engulf closed back over the 23% retracement, not to mention the 20-day simple moving average and the T-Line. With a good word from the FOMC today, we could see bullish follow-through from the setup that could run to $202.50 and possibly higher in the next few days. Of course, a bad word from the FOMC meeting could send us to the 50-day simple moving average.

IWM: Formed a bullish harami yesterday with a possible short-term low. Positive remarks from the FOMC could send the IWM up through the 20-day simple moving average and higher.

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Symbols formembers only Date Long/Short
9-5-2014 Long close
9-2-2014 Long Buy on positive trading
8-28-2014 Long Buy on positive trading
8-21-2014 Long Buy on positive trading
8-20-2014 Long Buy on positive trading
8-19-2014 Long Wait for a buy signal
8-14-2014 Long Wait for a buy signal
8-13-2014 Long Wait for buy signal
8-6-2014 Long close
7-31-2014 Long Wait for buy signal
7-30-2014 Long Watch for pbo
7-29-2014 Long Wait for buy signal
7-17-2014 Long Wait for buy signal
7-15-2014 LONG Wait for buy signal
7-14-2014 Long PBO ?
7-8-2014 Long Buy on positive trading
7-7-2014 Long PBO ?
6-16-2014 Long Buy on positive trading
4-14-2014 Buy over 20sma/ Close on weakness

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VXX S&P 500 VIX Short Term Futures: A close below theT-Line ™ implies the bearish short-term swing traders are in control, Yesterday bearish engulf implies a lower low.

USO United States Oil Fund: A close above the T-Line ™ implies the bullish short-term swing traders are in control. The current candle pattern is suggesting buyers are in control.

TLT: A close below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday's candle implies the 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


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Keep the inverse ETF's close by and watch them closely they produce good money, fast
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