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Swing Trading Week in Review – March 12, 2010

Friday, March 12th, 2010

What a GREAT week for swing traders!

The RALLY continues as the NASDAQ, S&P 500 and several sectors race ahead to NEW HIGHS for the year!

If you listen to some of the talking heads on T.V. you hear that the trading volume for this last up move was very LOW so they remain weary of the the upside potential in the weeks to come.

Now although the "low trading volume" in the broad market MAY be a concern moving forward some of the individual stocks showing great price action and volume patterns for us swing traders!

And despite the DOW's lackluster performance there were stocks all over the place making HUGE upside moves!

Apple (AAPL) closed for the week at its ALL TIME HIGH!

Research in Motion (RIMM) also had a great week, and after breaking through the $72 level it rallied to the upside and closed UP by almost 10% this week!

PCAR and LULU we also rock stars this week!

Subscribers to our Swing Trading Newsletters were alerted to numerous BUY set ups this week and a bunch turned out very nicely (if we do say so ourselves)!

CAL, WYNN, RIMM, and WYN all offered great swing trade opportunities!

One sector that really took off was the Financial Sector.

Take a look at XLF, IYF, FAS and well as some of the individual names like GS, C, and MET.

The banking sector finished UP 2.5% this week, outpacing the the S&P by more than 2 to 1.

The RETAIL (RTH) and REAL ESTATE ( IYR) sectors also continued their impressive rally with both sectors closing at their highest point of the year as well.

SPG, KIM, O and DRE continued their runs after showing great chart patterns for us last Friday.

Oil (OIH), Energy (XLE) and the semiconductors (SMH) all basically sat this last rally out.

So will these sectors play catch up or will they sell off when the market finally takes a break and pulls back a bit?

Only time will tell but for now we will continue to focus on the sectors and stocks that are showing tremendous relative strength.

Until next week…Good Trading to YOU!

Tags: AAPL, Apple, CAL, DIA, DRE, ETF Swing Trading, FAS, Financial ETF, Goldman Sachs, GS, IYF, IYR, KIM, LULU, MET, O, OIH, PCAR, Research in Motion, Retail ETF, RIMM, RTH, Sector ETF's, SMH, SPG, Stock Market Update, stock trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Trading Volume, WYN, WYNN, XHB, XLE, XLF
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Swing Trading Week in Review – March 5, 2010

Friday, March 5th, 2010

And UP we go again!

Last week we said we were hopeful that the market would give us a clear direction and this week it did exactly that!

Last Thursday's price action had us looking to the LONG side and this week started off on Monday with a nice UP day letting us know we were on the right side of the market.

The market stalled a little mid week but by Thursday the buyers stepped in again and pushed the market higher right until the close on Friday!

The rally was wide spread with most sectors having nice gains this week.

Retail (RTH), Real Estate (IYR), and the Steel (SLX) sectors continued their strong runs.

Several stocks in these sectors had GREAT price and volume patterns that lead to some very nice swing trade set ups!

X, AKS, KIM, O, TIF, and JCG all are good examples of these set ups.

The Financials (XLF) and the Homebuilders (XHB) also rallied nicely allowing us to take some profits in these sectors by weeks end.

So how do we look going into next week?

After such a nice strong run up this week we see some stocks that are approaching short term overbought levels as well coming up to overhead resistance areas.

As Swing Traders its our job to identify the clues that the market gives us and to put all the pieces of the puzzle together to make a decision.

We the fast run up in these stocks, combined with short term overbought conditions AND coming into OBVIOUS overhead resistance it would be smart to tighten up your stops at this point to protect your open profits.

Some of our more recent positions are just starting to move into positive territory but the positions we opened at the end of last week we will be quick to exit at the first sign of weakness.

Do NOT chase the market up!

If we continue to rally sit on the sidelines and wait for the market to either pullback a bit or at least consolidate near the highs.

Be patient and wait for the low risk/ high reward opportunities…you will be glad you did!

Until next week…Good trading to YOU!

Tags: AKS, ETF Swing Trading, IYR, JCG, KIM, O, Retail ETF, RTH, Sector ETF's, SLX, Stock Market Update, SWING TRADE SET UPS, Swing Trading, TIF, Trading Volume, X, XHB, XLF
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Swing Trading Week in Review – February 19, 2010

Friday, February 19th, 2010

What a difference a week makes!

The market caught traders off guard this week as it continued higher breaking the most recent swing high at 10314.84 that was set on February 2nd.

In our last "Week in Review" we advised that although we had a SHORT bias we were still taking LONG trades in stocks with strong chart patterns.

And as Tuesday rolled around and the markets gapped higher we were glad we were on the LONG side of the market (even if only a few positions).

Most of the SHORT set ups never materialized so that kept us out of any new SHORT positions while the market continued to move up for the entire week!

As the markets closed this week it looks like we are due for a little pull back after this "slingshot" type rally we have had from the lows on last reversal Friday…February 5th.

We entered into several new SHORT swing trades on FRIDAY based on the price action, volume patterns and chart patterns that revealed themselves by the end of the day.

Its hard to enter into any new LONG positions since the market has come so far, so fast this week.

So what do we do next week?

We follow our plan.

We look for WEAK stocks with LOW RISK/HIGH REWARD charts patterns to SHORT and LOW RISK/HIGH REWARD chart patterns in STRONG stocks to get LONG.

With the market acting the way it is we will continue to dabble a bit on both sides of the market.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Stock Market Update, Swing Trading Chart Patterns, Swing Trading Price Action, Trading Volume
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Swing Trading Week in Review – February 12, 2010

Friday, February 12th, 2010

DOWN…UP…DOWN…wait no…UP!

Wow! What a roller coaster this week has been.

Well after last Friday's reversal day (Hammer in candlestick terms) we knew we would we in for an interesting week this week.

Would buyers step back into the market and drive it higher?

Or would the sellers regain control and push the market back down?

Well after all is said and done the market finished up a mere 87 points ( under 1%) for the WEEK.

Not very impressive!

This week the market appears to have simply put in a retrace in a longer term down trend.

DIA Swing Trading Chart

As you see from the chart of the Diamonds (DOW ETF) we are trading well under the 50 day SMA.

We havent traded BELOW the 50 day SMA for this many days since MARCH of last year!

A bearish sign?

We believe so, but as always, we don't want to try to PREDICT what the market will do.

As Swing Traders we simply want to ANTICIPATE what it will do and hopefully take the appropriate and profitable action in time.

A few sectors ETF's, XLF (Financials), RTH (Retail), XLE (Energy), OIH (Oil Services), still look very weak in the short term.

Some sector ETF's however are showing some interesting chart patterns.

The Homebuilders ETF (XHB) is trading ABOVE its 50 day SMA and has held up quite well during the recent down move in the market.

XHB Homebuilders ETF

Stocks like PHM, DHI, MTH, TOL and LEN had decent gains this week.

We aren't sure, of course, if this strength will continue in this sector but we have some small gains already "locked in" so we will trail our stops accordingly.

There has also been some individual names on our watch list that have performed quite well this week.

ASH, CMI, G, AAP and DLB have all done well while RIMM has been a rock star!

Its very hard to get aggressive to the LONG side when the market is acting the way it is.

So while we continue to have a SHORT bias we take a few LONG positions in strong stocks just in case the market continue to move up.

On the SHORT side there are a TON of charts showing potential SHORT swing trade set ups.

Regardless of what the market does next week we will be ready!

Until next week…Good trading to YOU!

Tags: DIA, ETF Swing Trading, OIH, RTH, Stock Market Update, Swing Trading, Swing Trading Chart Patterns, Swing Trading Price Action, Trading Volume, XHB, XLE
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