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Archive for July, 2011
Swing Trading BLOG – Week in Review Video – July 29, 2011
Sunday, July 31st, 2011Swing Trading BLOG – Week in Review – July 22, 2011
Sunday, July 24th, 2011Swing Trading BLOG – Swing Trading BOOT CAMP
Nice follow through this week!
After a spike down below the 50 day SMA on Monday the market found its footing and resumed its move to the UP side this week.
As far as the indices are concerned the NASDAQ actually rallied up to a HIGHER HIGH while the DOW and S&P lagged behind a bit.
As expected the overall market did well but a few sectors really stood out.
Here is a look at the charts for a few of the sector ETF's that performed well.
$XLE
$IYR
$XLK
$OIH
In last weeks BLOG POST we mentioned several individual stocks in these sectors to watch.
The Energy and Oil Service stocks we mentioned all did well.
The Casino stocks moved up but lacked the "pop" (so far) that we were looking for.
The Retail stocks (and ETF) basically "stalled" after moving higher on Tuesday.
The Gold, Gold Miners and Silver ETF's continue to hold up after putting in a nice rally recently.
Keep your eye on the Agriculture ETF's (and stocks) as we move forward since we are seeing some interesting price action and volume patterns lately.
$MOO has drifted up but $DBA is still lagging behind.
The market has moved up fast this week and is flirting with being short term overbought.
Remember though that an overbought (or oversold) market can become even MORE OVERBOUGHT.
Price action and volume paint a picture so look for the clues the market gives you.
Be prepared for anything and as always…Good Trading to YOU!
Swing Trading BLOG – Week in Review – July 15, 2011
Sunday, July 17th, 2011Swing Trading BLOG – Swing Trading BOOT CAMP
"There is no doubt that a retrace in the market will happen…it is just a matter of when."
That was a line from last weeks BLOG post.
Well that "when" was this week!
Tuesday the market GAPPED DOWN (again) and continued to show weakness for the entire week.
The major indices are now hovering around their 50 day SMA's are trying to figure out where to go from here.
The strong sectors we mentioned last week (Real Estate, Technology, Retail) have all pulled back after their recent run up.
The Semiconductors and the Financial sector continue to UNDER perform the market.
The Broker/Dealer ETF ($IAI) actually traded down to NEW LOWS for the year this week.
Several stocks started to show signs of life by weeks end so they are worth a watch as we begin trading next week.
The Energy and Oil Service stocks are showing some good trading patterns.
$APC, $COG, $SLB, $HAL and a few on the smaller names are on our list.
We also have our eye on the casino stocks $WYNN, $LVS, $MGM, etc.
Of course we still have the Retail stocks and our "list to watch" from our last BLOG post on this weeks Watch List as well.
After the nice pull back we saw in the market this week we should see some interesting price action next week!
Oh and don't forget to have some SHORT candidates on your list as well…just in case.
That way you can act on whatever the market decides to do from here (heard that before?).
Until next week….Good trading to YOU!
Swing Trading BLOG – Week in Review – July 8, 2011
Sunday, July 10th, 2011Swing Trading BLOG – Swing Trading BOOT CAMP
Traders watched as the indices pushed higher this holiday shortened week.
One thing to point out this week is the fact that an oversold or overbought market can still become MORE oversold or overbought.
A lot of Swing Traders were prepared to SHORT this latest rally but when the market moved higher Wednesday and Thursday some were caught in the mix.
Now if you have a tried and true (and tested!) strategy for trading against the market then have at it!
There are a million ways to make money trading so far be it from us to tell you how to trade.
What we are saying though is don't start trading by the seat of your pants using the latest overbought/oversold indicator or oscillator.
There is no doubt that a retrace in the market will happen…it is just a matter of when.
Friday's price action (Gap Down and Reverse) tells us that the BUYERS are still there.
When we open for trading on Monday that could all change but for now don't try to guess what what the market will do.
As we look at the charts for next week we can see that the market is still extended a bit.
There are a ton of good looking charts to watch in the future.
One sector that stood out this week was Real Estate.
Here is a look at the chart for the Dow Jones Real Estate sector ETF ($IYR).
From a technical analysis perspective $IYR put in a higher low at the end of last month.
As the market rallied recently $IYR has traded up to a NEW HIGH for the year on Thursday.
The Retail sector ETF ($RTH) has also rallied nicely as is flirting with NEW HIGHS.
Watch out for the possible overhead resistance in the $114 area first though.
The Technology sector is also on our Watch List as we move forward from here.
Here is a look at $XLK…
As far as individual stocks go keep an eye on $AMZN, $ERTS, $JAZZ, $ELN, $LULU and $HAL just to name a few.
Like we said earlier there are a TON of stocks that should be on your list this week.
The volatility is likely to continue so keep that in mind as we head into trading this week.
As always have plan in place for whatever the market decides to do from here.
Until next week…Good Trading to YOU!