Archive for October, 2010

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Swing Trading Week in Review – October 29, 2010

Sunday, October 31st, 2010

Swing Trading BLOG – Swing Trading BOOT CAMP

Well the DJIA and S&P took a little break this week but the NASDAQ continued its upward momentum.

SPY

With the tech heavy NASDAQ showing such strength it is no surprise the the Technology ETF's pushed higher as well.

The Technology Select Spider ($XLK) traded to NEW HIGHS for the year this week.

XLK

The Semiconductors also helped lift the NASDAQ and the Semiconductor ETF ($SMH) continued its up move this week after its most recent pullback.

If you Swing Trade ETF's then these two sectors did give you an opportunity to get LONG this week but almost every other sector followed the overall market.

SMH

Energy, Retail, Oil Services, Real Estate and the Steel Sector all pulled back with the market this week.

Gold and Silver popped a bit this week as $AEM and $PAAS rallied to NEW HIGHS for the year.

The Agriculture ETF's ($DBA and $MOO) continue to stand out as the sector ETF "rock stars" as both once again hit new yearly highs this week.

As far as individual stocks go we saw some big moves in $RIMM, $VRSN, $VSEA, $MOS and a huge GAP UP in $CSTR and $EL to end the week.

A few stocks took a beating this week but one to watch next week will be $HAL.

HAL

Moving forward there are still a TON of stocks pulling back nicely from their most recent recent highs.

The market did take a healthy (and much needed) breather this week but be prepared as w open up for trading on Monday.

A continuation of the recent pullback towards the 50 day SMA wouldn't necessarily be a bad thing but neither would a rip straight up to NEW HIGHS!

Until next week…Good Trading to YOU!

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Swing Trading Week in Review – October 22, 2010

Sunday, October 24th, 2010

Swing Trading BLOG – Swing Trading BOOT CAMP

Swing Traders continue to enjoy the recent uptrend as the markets moved to new multi-month highs this week.

SPY

The week started off a bit negative and Tuesday's GAP DOWN was the first real sign of weakness we have seen in sometime.

The market quickly recovered though as the major indices pushed higher to close out the week.

As far as sectors go we saw a bit of rotation this week as some of the weaker sector ETF's moved higher while a few of the stronger ones took a bit of a break.

Retail ($RTH) and Real Estate ($IYR) traded to new multi-months highs while the recently strong Energy ($XLE) and Oil Services ($OIH) sectors traded up but still below their recent highs.

RTH

The Financials ($XLF) and Homebuilders ($XHB) remain weak but the Broker/Dealers ($IAI) are showing a bit of strength.

IAI

As far as individual stocks are concerned it was also a bit of a mixed bag.

APC, SOHU, DAL, and GS had nice moves to the upside and AMZN continued to rip.

SLB, ADSK, CHKP also moved higher while SMG and SKS just keep on rollin'.

APC

On the flip side we saw decent sell offs in TSL, SNDK, X, JCG and MED.

MED

As we move into next week there are still a lot of stocks setting up for potential LONG trades.

The only caution sign we see is the lack of volume that we saw as the market pushed higher at the end of the week.

We are still in a very BULLISH phase so we will simply wait for the opportunities to present themselves and act accordingly.

Until next week…Good Trading to YOU!


 

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Swing Trading Week in Review – October 15, 2010

Sunday, October 17th, 2010

The rally continues! (well kinda)

The major indices finished UP yet again this week.

SPY

Although we closed the week on a positive note the move itself was less than spectacular.

It was more like a sideways Monday, nice day of trading Tuesday then a GAP UP and trade sideways to close the week.

Now don't get me wrong…We aren't complaining!

The very BULLISH price action we are seeing is a nice change of pace from the last few months of the "stop, chop, and reverse" type trading that we were seeing.

As a matter of fact this week we saw a lot of the strong stocks on our list continue to move strongly to the upside.

AAPL and AMZN are continue to defy gravity as both stocks ripped to NEW HIGHS this week.

AAPL

CF and AGU also continued to rally after last Fridays breakout.

RIG and DO had a nice week as well as the Oil Services and Energy sectors remain strong.

DO

There are also a lot of strong stocks on our list that used this week to digest some of their recent gains.

AVP, CCJ, MMR, JWN, DE, STJ and DOW are a few names that are on this list.

DOW

This is a good sign and should give us very nice trade setups in the days to come.

The sector action was mixed again this week.

The Financials (XLF IYF) still cannot find any legs and actually sold off pretty hard to close the week.

IYF

Retail (RTH) is still trading sideways but Real Estate (IYR) finally got a little lift this week.

One sector that did finally make its move this week was the Technology sector.

After last weeks consolidation XLK finally made its move higher closing the week a new multi month highs.

XLK

As expected the Tech heavy Nasdaq got a lift this week as well.

The QQQQ gets our vote for "Index of the Week" based on its great chart.

QQQQ

As the bull marches on we expect to see some follow through in the days to come.

Be patient and wait for your trades to set up.

The market is in a VERY BULLISH phase right now but that does not mean that decent pullback is out of the question.

Be prepared for anything and trade your plan accordingly.

Until next week…Good Trading to YOU!

P.S. – Our last strategy class of the year will be our PVT Trading Tactics class on October 30th. If you are interested in learning more about trading with trend lines, volume, and price action then don't forget to sign up now!

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Swing Trading Week in Review – October 8, 2010

Sunday, October 10th, 2010

Swing Trading BLOG – Swing Trading BOOT CAMP

Finally!

This week the UP move continues as we saw the major indices break out of last weeks narrow range.

SPY

The week started out on a negative as the market pulled back a bit but Tuesday we saw things quickly change.

Tuesday we saw the markets GAP UP and rally right to the close.

The rest of the week the strength continued and the markets closed higher after yet another UP leg in a move that started in September.

Overall the individual sectors are also acting very well although there are still a few laggards out there.

The Agriculture ETF's (DBA and MOO) exploded to the upside on Friday!

DBA

After last weeks big sell off in this sector we were waiting to see how this sector would trade this week.

Some of the stronger names in this sector (CF, CAT, AGU) offered good setups for LONG trades.

Energy and Oil Services continued upward as did the Semiconductors and Airlines.

Some of the sectors however did not participate (yet) much in the move this week.

Financials and the Homebuilders had a decent week but the Retail, Real Estate and Technology sectors traded sideways after gapping up with the market on Tuesday.

Although the sectors were a "mixed bag" we saw some great setups in some individual stocks this week.

AAPL and AMZN both had nice setups after their recent pullbacks although AAPL followed through a bit better this week.

DOW, MMR, ELN, AVP, CCJ and EL all had nice setups at some point during the week.

DOW

These were all text book type trades that should have been obvious candidates once the market spoke loud and clear on Tuesday.

As we go forward look for signs of strength in some of the stronger stocks and ETF's that have yet to take part in the market's recent move.

Be prepared for anything but with the recent strength in the market it is hard to make a case for the SHORT side of the market (unless of course you are a counter trend trader).

Until next week…Good Trading to YOU!

 

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