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Swing Trading Week in Review – August 17, 2012

Sunday, August 19th, 2012

Swing Trading BLOG – Swing Trading BOOT CAMP

The sloooooow grind continues…

Swing Traders faced more of the same this week as the market is slowly making it's way higher.

For the last 2 weeks the move has been more of a crawl than a true breakout.

The DJIA as been a "turtle" but the technology focused NASDAQ has been moving up nicely.

When we look deeper into the tech sector we can see names like $AAPL and $QCOM making some nice moves while the tech/retail stocks like $AMZN also followed suite.

The recently strong Energy and Oil sectors showed signs of life again on Thursday.

$XLE, $USO, and $OIH all moved to multi month highs to end the week.

The Retail sector ($RTH) also broke to new highs this week.

$TGT, $WMT, $RL and $M all had nice moves and if you were lucky enough to be LONG $ANN the GAP UP was a nice surprise!

The Financials and Homebuilding sectors are playing along as well.

Plenty of choices to make on the LONG side no matter what your trading strategy is.

All in all this has been a great move up in the market since we bottomed out in early June.

Once we cleared the sideways trading early this month the wind has been at our back.

With that being said both the S&P and NASDAQ remain in extremely short term overbought territory.

Be cautious as we move into next week and don't chase trades…let them come to you.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Strategies
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Swing Trading Week in Review – August 3, 2012

Sunday, August 5th, 2012

Swing Trading Blog – Swing Trading Boot Camp

After a strong up move last week swing traders watched as the market pulled back for four consecutive days to start this week.

Fridays price action however confirms that we are still in a bullish trend.

The big GAP UP had traders scrambling to get LONG again and might have caught a few traders short.

The most recent move is technically another higher high in all three major indices.

The volume patterns indicated some heavy selling last week so lets see if the buying volume confirms this move to new highs.

The sector action remains consistent with the strong sectors getting stronger and showing signs of moving higher.

Retail, Technology, Financials, and the Energy and Oil sector ETF's had some good chart patterns to trade.

As we move into next week just be aware that we still have some substantial overhead resistance to contend with.

All three major indices put in the yearly highs in early April and then failed to move higher after that.

Here is a look at the weekly chart of the $DIA…

Look for the strongest stocks with the best chart patterns to trade.

Pay attention to price action and volume if we make a run to the April highs.

Have a plan for whatever the market decides to do from here.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies
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Swing Trading Week in Review – July 6, 2012

Sunday, July 8th, 2012

Swing Trading BLOG – Swing Trading Boot Camp

Swing traders enjoyed the early part of this holiday shortened week but the news at the end of the week brought on a reality check.

With the dismal jobs report numbers came increased selling bringing the market down on Friday.

The indices basically finished flat for the week but traders had opportunity to take their profits off the table well before Friday came.

All three indicies put in a "higher low" at the end of last month are now back above their 50 day SMA's.

As the earnings season approaches we will see if they can hold above these levels and continue the uptrend.

When it comes to the different sectors in the market we still have a bit of a mixed bag.

Several ETF's are showing some great relative strength.

Real Estate ($IYR), Retail ($RTH) and the Agriculture ($DBA) sectors are rocking.

The Semiconductors ($SMH) and the Broker/Dealers are still lagging a bit.

On the individual stock front we have more of the same.

We have breakouts ($ALK $WMT $O $V) and breakdowns ($ADM $AET $MRVL $LRCX).

You have to come to expect this type of price action when the market in so indecisive and trading around the 50 day SMA.

It is hard in times like these to make a strong case for just one side (long or short) of the market.

As far as individual swing trading strategies go we will look for for the market to us exactly what to do next.

If we see chart patterns forming on the long side we will need to see price action and volume confirm the next move.

If the sellers step in next week we will see a lot of these long patterns FAIL and we will look to SHORT the weaker stocks in the market.

Certainly we have some big moves in the market as we move through earnings season.

Pay close attention to what the market is telling you.

As always be prepared for whatever the market decides to do from here and act accordingly.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies
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Swing Trading Week in Review – June 29th

Sunday, July 1st, 2012

Swing Trading BLOG – Swing Trading Boot Camp

Despite two big GAP DOWNS on Monday and Thursday that market finally found its legs.

Friday trades watched as the market GAPPED UP and finished the week with a nice rally to the close.

The rally actually started at the end of the day on Thursday which gave swing traders a clue of things to come for Friday morning.

Paying attention to intraday price action can often times give you a "heads up" to what the big money is doing since a lot of orders go in during the last two hours of each trading day.

Once we saw the rally Thursday afternoon (along with the volume that accompanied it) we were pretty sure that the market was going to lift off the next day.

This would mean that some of our SHORT positions would not follow through and would probably stop us out.

So what did we do?

Nothing. Absolutely NOTHING DIFFERENT.

Did we cover our SHORTS? Did we flip those SHORTS to LONGS?

No and No.

Simply put we traded our plan.

We have learned over the years that we should never try to out guess the market.

In hindsight it east to say that we would have been smart to COVER and even FLIP TO THE LONG SIDE but that is not always the case.

Being almost positive that you are right can cost you…big time.

Our trading plan is very specific.

We enter our trade and place our stops. We set our profit target(s) and manage our trade per our plan.

Then we let it play out one way or the another.

Either we get stopped out OR we hit our profit target.

We don't change our rules based on what we think the market is going to do.

We told you last week that we trade both sides of the market and get stopped out (on the wrong side) once the market finds its true direction.

This week was a great example of this.

When the SHORT trades stall and STOP GOING DOWN that should tell you something.

A lot of good looking SHORT set ups didn't follow through and actually created a higher low this week.

When your LONG trades are breaking out on good volume that should tell you something as well.

Learning to read the price action and volume during these times is crucial to identify turning points in the market.

This is exactly what we mean when we say to "listen to the market and act accordingly".

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Swing Trading Blog, Swing Trading Price Action, Swing Trading Strategies, Swing Trading Volume
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