Trade Ideas September 19, 2014

Today's Swing Trade Idea

ARNA (Healthcare Sector Biotechnology) The candlesticks are showing a double bottom yesterday, and ARNA had a 9.49% move closing close to the 50-day simple moving average. This could be a sign that the bottom is starting to build, and the rally we are looking for is near. The potential trade is about 30%

My entry plan ideas: (Bought yesterday at 6.24) Buy on positive trading with a close above the 50.
My stop plan: My current stop is a close below the 20-day simple moving average. I will soon move it up to a close below the 50-day SMA.

Good Morning,
SPY: Yesterday the SPY hit an all-time new high thanks to aggressive and determined buyers. After a slight profit taking correction, we are now looking at a continuation pattern where the first signal is relatively strong, the second signal is a doji at the upper end of the first signal and the third or yesterday's signal shows strength of continuation closing higher. This is called a “continuation pattern,” sometimes called a “doji sandwich.” I would not be surprised if we see a little consolidation or choppy trading today, but unless there is a meaningful sell signal, the Bulls are still in charge and our first target is still $202.60

IWM: IWM Desperately needs to find a seat above the 20-day simple moving average. If it does not, it will likely chop around and make everyone a bit nervous.

HIMX is a rounded bottom breakout that has been traded off and on the last couple of weeks by many of the traders in our trading room. Yesterday there was a group of us who bought HIMX because of its pullback to the 20-day simple moving average, traded out sideways and started to bend up above the T-Line. Note the double bottom.

If you were in the trading room and were able to hear the HIMX discussion, you probably would've bought some as well. I can't really say what it will do today, but it does look like it's trying to reach for the 200-day simple moving average. As I write this note, I personally am up 4.4%

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Symbols for Date Long/Short
members only
9-18-2014 Long Buy on positive trading
9-5-2014 Long Caution
9-2-2014 Long Protect profit
8-28-2014 Long Buy on positive trading/caution
8-21-2014 Long Buy on positive trading
8-20-2014 Long Buy on positive trading over 20sma /caution
8-19-2014 Long Wait for a buy signal
8-14-2014 Long Buy on positive trading
8-13-2014 Long Buy on positive trading
7-31-2014 Long Wait for buy signal
7-29-2014 Long Wait for buy signal
7-17-2014 Long Caution / close
7-15-2014 LONG Buy on positive trading
7-14-2014 Long Close on weakness
7-8-2014 Long Buy on positive trading
7-7-2014 Long Caution
6-16-2014 Long Buy over 20sma/ Close on weakness
4-14-2014 close

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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 Doji implies slight indecision.
USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. The current candle pattern is suggesting sellers 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
Symbols from TC2000

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