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Swing Trading Week in Review – February 17, 2012

Sunday, February 19th, 2012

Swing Trading BLOG – Swing Trading Boot Camp

Creeping Higher!

The market rallied to new highs again this week but it was a little slow in the making.

Monday traders watched as the market GAPPED UP and a decent GAP DOWN last Friday.

Tuesday we watched as the market sold off all day only to put in a rip to the close the last 30 minutes of the day.

Wednesdays price action put a lot of fear into the market and had most traders talking about a sell off.

The market spoke loud and clear on Thursday though as it ripped right out of the gate and closed near the high and above the high of Wednesdays trading.

This is why we always form our own opinions by listing to what the market is telling us. We never try to outguess the market.

Did Wednesdays price action and volume tell us anything?

Of course it did.

But we executed our trading plan accordingly and let out LONG trades play out despite all the talk of the "sell off" that was now upon us.

We did NOT change our plan and exit our positions based on what we thought "might" happen.

We were rewarded nicely for being so disciplined.

If you "hit the bid" on Wednesday you might find yourself now chasing stocks up or waiting for the next move to happen.

Stocks and obviously very bullish right now but there will be a retrace in the market sooner or later.

As we look forward trading on Tuesday there are plenty of stocks setting up for potential trades.

A few on our Watch List?

$M $CBRL $WFC $DOW $RIG $HAR to name a few.

Until next week…Good Trading to You!

Tags: ETF Swing Trading, Swing Trading Blog, Swing Trading Volume
Posted in ETF Swing Trading, ETF Trading, Price Action Trading, Swing Trading, Swing Trading Blog | No Comments »

Swing Trading BLOG – Week in Review February 10, 2012

Sunday, February 12th, 2012

Swing Trading BLOG – Swing Trading Boot Camp

The Rally continues but…

The market drifted higher this week extending the rally that started at the beginning of the year.

So where does the "but" come in?

Well Fridays price action left swing traders wondering if the market has reached its peak (at least for now).

Friday traders watched as the market GAPPED DOWN and sold off in the morning only to rally and close at its high.

The sector action was interesting as well. We watched as some of the strongest sectors either "stalled" or began to pullback even as the overall market pushed higher.

The ultra strong Homebuilders ETF ($XHB) traded sideways all week.

The Retail ETF ($RTH) did the same.

The Airlines ($FAA), Real Estate ($IYR) and Materials ETF's all started to retrace this week.

One sector to watch that outperformed the market this week was the Solar ETF ($TAN).

As far as individual names go there were some great moves and the charts still look great.

$NE, $HAR, $AKAM, $V, $VECO, and $WFM turned in a great week!

As we look at the swing trading charts we see a lot of stocks that are still looking very bullish.

Some of the best swing trading indicators are flashing signs of being "overbought" though.

The overall market does continue to show signs of being a bit extended and Fridays trading action leaves us wondering what next week will bring.

So what do swing traders do in a time like this?

Stay true to your plan.

You see we always have a plan…and so should you!

We know exactly what we will do if the market turns down to make a run back towards the 50 day SMA.

We also know what we will do if the market jumps out of the gate on Monday and rallies to new highs.

We have our plan in place well before the market opens each and every day.

Do you know exactly what you will when the market opens on Monday?

Have a plan in place BEFORE the market does whatever it is going to do.

Once it does simply take action based on the plan you have already laid out.

Not only is trading a lot less stressful when you do this it also helps take the emotion out of your trading decisions.

Until next week…Good Trading to YOU!

Tags: 50 Day SMA, ETF Swing Trading, Learn Swing Trading Strategies, Retail ETF, Sector ETF's, Swing Trading, Swing Trading Blog, XHB
Posted in ETF Swing Trading, ETF Trading, Price Action Trading, Sector ETF's, Swing Trading Blog, Swing Trading Chart Patterns | No Comments »

Swing Trading Week in Review – February 3, 2012

Saturday, February 4th, 2012

Swing Trading BLOG – Swing Trading Boot Camp

Rally to NEW HIGHS!

A great week for both Swing Traders and Day Traders as the market rallied to NEW HIGHS this week.

After a GAP DOWN and rally on Monday the indices put in a solid up move and finished the week off with a nice GAP UP Friday.

As expected the strongest sector ETF's turned in a great week.

Real Estate ($IYR), Financials ($IYF), Homebuilders ($XHB), Retail ($RTH) and the Technology sectors ($SMH $XLK) all moved up nicely.

The Semiconductor stocks (which we mentioned last week) were in play this week with $CREE, $VECO, $ATMI, $MRVL, $NVLS and $LRCX making some nice moves.

$NVDA also has a good looking chart as it held its 50 day SMA and made a move higher on Thursday.

The Steel stocks we mentioned were a bit mixed with $X and $NUE moving higher while $AKS turned in a poor week.

The Casino stocks $LVS $MGM continued their super strong up moves.

There were plenty (way to many to list) of great looking chart patterns to trade this week!

Actually there we so many trade set ups that there is no possible way for us to trade them all. It seemed that everything was rallying this week!

This is the kind of week that rewards you in a big way when you take action and trade exactly what the market is telling you.

This type of rally and follow through is what traders dream about and look forward to each and every day.

This brings us to our next very important observation.

The market is back in the spotlight!

The talking heads on TV will surely hype this market up and eyes will turn back on to the market in a big way.

Everyone will start looking and talking about what the stock market is doing and how great everything is.

Although it is great that the market is doing well…Don't get caught up in the hype!

As a trader you need to stay focused!

I have seen traders change nearly their entire methodology when the market goes to one extreme or the other like it has this week.

I have seen scalpers suddenly become "trend" traders. I have seen short term swing traders ignore exit signals and essentially turn themselves into position traders.

DO NOT LET THIS HAPPEN TO YOU!

Changing your strategy may work for a short time but unless you have a proven system for trading a different way then this type of change can backfire in a BIG WAY!

Stick to your trading plan just like you have been doing day in and day out.

"Let it Ride" is a term that gamblers use…not traders!

Keep your focus and as always have a plan for whatever happens next in the market.

I hope this week was good to you!

Until next week…Good Trading to YOU!

Posted in ETF Swing Trading, Price Action Trading, Sector ETF's, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts | No Comments »

Swing Trading Week in Review – January 27, 2012

Sunday, January 29th, 2012

Swing Trading BLOG – Swing Trading Boot Camp

Right back to where we started!

All looks good for the LONG side of the market although we ended up finishing the week pretty much where we started.

The major indices did pop up again on Wednesday (on good volume) but quickly reversed on Thursday and drifted a bit lower on Friday.

The sector action was a mixed with some of the stronger sectors taking a breather and some sectors showing some increased relative strength.

The Real Estate sector out performed the market by rallying to new highs this week.

The REIT ETF ($RWR) also followed suit…

The Silver and Gold ETF's ($SLV $GLD $GDX) also sprang to life this week…

The Steel and Airline sectors ($SLX $FAA) are also looking good with several stocks in each sector making nice moves this week.

Keep your eye on $AKS $NUE $X $STLD!

The Semiconductors took a little break this week but keep don't forget about names like $MRVL $CREE $KLAC $NVLS $LRCX next week if the market stays strong.

Even with the market stalling this week some of the stocks we watch seem to have gone to far to fast.

With Silver and Gold showing some bullish price action make sure to keep a close eye on the overall market conditions when evaluating your trade set ups.

Have a plan in place and be prepared for anything!

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Strategies, Swing Trading Volume
Posted in ETF Swing Trading, ETF Trading, Gold ETF's, Price Action Trading, Sector ETF's, Silver ETF's, Swing Trading, Swing Trading Blog | No Comments »