Archive for April, 2011

Swing Trading BLOG – Week in Review – April 29, 2011

Saturday, April 30th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

$DIA

UP, UP and Away!

The markets continued to rally this week as the DJIA and the S&P 500 traded to NEW HIGHS!

This was a great week for Swing Traders.

Not simply because the markets went higher but more importantly it was the WAY that they moved higher.

There were some great chart patterns to trade this week and most of them played out in text book form.

The price action and volume swing trading techniques that we use (and teach) painted a crystal clear picture this week.

Want to see what we mean?

We have been focused on the Gold and Silver ETF's lately and $GLD had a great chart pattern to trade this week.

Here is a look at the chart…

$GLD

Learning how to read price action AND volume together is a powerful skill set to add to your trading.

The BLACK lines on the chart below are "pullbacks" in the obviously strong, trending Gold ETF.

$GLD

This weeks "pullback" actually consisted of two days…a high volume reversal day on Monday and day that traded lower on Tuesday.

Wednesday offered another opportunity for Swing Traders to enter into this rally.

The GAP UP was the first clue that the next move higher was upon us.

The opening price ($147.38) on the GAP UP was just below the previous Swing High set on Monday ($147.58).

By NOON time $GLD was rallying through that previous Swing High and the VOLUME was flowing into this ETF.

$GLD continued to rally the rest of the week and the VOLUME that accompanied the move was exactly what we like to see in a strong move.

There were several great examples of strong stocks with great chart patterns to trade this week.

Stay tuned to the BLOG and we will post some of the other trades we made.

Until next time….Good Trading yo YOU!

Swing Trading BLOG – Swing Trading Week in Review – April 21, 2011

Sunday, April 24th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

 

Swing Traders watched as the Dow Jones Industrial Average moved to NEW HIGHS this holiday shortened week.

Earnings news in the Technology sector influenced the markets early in the week and lead to a nice GAP UP on Wednesday.

This news brought buyers into the market and lifted the Technology ETF ($XLK) back above its 50 day SMA by weeks end.

The Semiconductor sector ($SMH) also got a lift this week and is also now trading back above its 50 day SMA.

Silver and Gold continue to show their strength with both sector ETF's ($SLV $GLD) trading to new multi month highs again this week.

Looking around at some individual stocks there still seems to be a bit of indecision in some sectors.

There are great stocks like $LULU, $SINA, $WLK and $SIRO.

Then there are not so great stocks like $CREE, $WFC and most of the airline stocks.

It will be interesting to see how these stocks do if the market continues to move higher.

Next week we will watch to see if the S&P 500 follows suit and BREAKS OUT to NEW HIGHS as well.

We are still in LONG only mode but we will be prepared for whatever the market decides to do from here.

Until next week…Good Trading to YOU!

**No charts this week due to a problem with Esignal data**

Swing Trading BLOG – Week in Review – April 15, 2011

Sunday, April 17th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

$DIA

After failing to break out to the upside on Monday the market put in a nice orderly pullback to its 50 day SMA this week.

The overhead resistance is in place and its a good sign when the 50 day holds as support.

In order for us to stay optimistic about this market moving higher we are going to have to see price action and volume confirm our thoughts.

If the market stalls looks for clues that a short term trend transition may be in order.

Earlier this week we posted a list of Gold Stocks to watch and a list of Silver ETF's.

We posted these to remind you of the recent strength in these two sectors.

Lets take a look at the chart for the Gold ($GLD) and Silver ($SLV) ETF's

$GLD $SLV

Both sector ETF's are in solid UP TRENDS and offered yet another opportunity for Swing Traders to profit.

While some Swing Trading BLOGS were actually advocating SHORTING these sectors we remained BULLISH due to the obvious strength.

No one knows for sure what the future holds but for now these two are about the strongest sectors in the market.

Until next week…Good Trading to YOU!

List of Silver ETF’s – $SLV, $SIL, $DBS, $SIVR

Friday, April 15th, 2011

List of Silver ETF's – Swing Trading BOOT CAMP

$SLV – iShares Silver Trust

$SIL – Global X Silver Miners ETF

$DBS – Powershares Silver Fund

$SIVR – ETFS Silver Trust

$AGQ – Proshares Ultra Silver (2X)

 

Silver Exchange Traded Funds

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