Trade Ideas September 24, 2014

Today’s Swing Trade Idea

GPRO (Consumer Cyclical Sector Leisure) GPRO has formed a bullish J-Hook breakout over the recent high of $76.25. $80.00 is a good near-term target with the possibility of $84 in the near to medium term.

My entry plan ideas: (Bought yesterday at the close $72.66) Buy or add to above 71.50
My stop plan: $71.45 and raise stop to follow price

Good Morning,
SPY: Weakness into yesterday’s close pushed the SPY close to the 50-day simple moving average which happened to be the Fibonacci 38.2% retracement. Price is below the T-Line, so we have to give kudos to the bears; however, price is also a bit oversold compared to the T-Line. Therefore, we could see a little bullishness today. Stay cautious — a little bullishness this morning does not necessarily mean a bullish close nor does it guarantee a bullish reversal signal today. Don’t let anyone kid you or try to pull the wool over your eyes. It’s been tough trading the last couple of days. I have mentioned a couple of times to our members in the trading room to be cautious and not to over trade and chase the market.

IWM: IWM has had three big days down coming from a falling method chart pattern cutting through the big three and a little oversold bounce is in the cards. Remember, to see a good bullish run we need to see a good bullish reversal pattern and the pattern requires three or more candlesticks.

TZA Closed yesterday right on our 200-day simple moving average target which represents a 12.3% possible profit from our featured date on September 5. Near the close yesterday would’ve been a good time to shave off a little profit if not close the entire position, watch for a profit taking pull back, a buy signal and perhaps consider entering again. Watch our news notes and check the website for updates. Profit with us

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Symbols formembers only Date Long/Short
9-23-2014 S Eyes on the upper downtrend line
9-18-2014 Long Wait for buy signal
9-18-2014 Long Wait for buy signal
9-17-2014 Long Close on weakness
9-5-2014 Long Take profit
9-2-2014 Long Wait for buy signal
8-28-2014 Long Caution
8-21-2014 Long Wait for buy signal
8-19-2014 Long Wait for a buy signal
8-14-2014 Long Wait for buy signal
8-13-2014 Long Wait for buy signal
7-31-2014 Long Buy on positive trading
7-15-2014 LONG Watch it
7-8-2014 Long Buy on positive trading
6-16-2014 Long Buy over 20sma/ Close on weakness

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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 candle implies buyer interest

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 buyer interest.

TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle implies the buyers 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

Members Trade Ideas – Members Only
Keep the inverse ETF’s close by and watch them closely they produce good money, fast
Symbols from TC2000

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