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Swing Trading Week in Review – November 5, 2010

Sunday, November 7th, 2010

Swing Trading Blog – Swing Trading BOOT CAMP

Finally!!!

Swing Traders got the breakout they have been waiting for as the market traded to NEW HIGHS for the year this week.

As you would expect most of the sectors followed suit by rallying higher this week as well.

The sector ETF's making NEW HIGHS for the year this week were Agriculture ($DBA $MOO), Energy ($XLE), Real Estate ($IYR), Semiconductors ($SMH), Airlines ($FAA) and Technology ($XLK).

SIlver ($SLV) and Gold ($GLD) also rallied to NEW HIGHS as did the Gold Miners ($GDX).

Another interesting thing to take notice of is that there is finally some strength coming into the weakest sectors.

The Financials ($XLF $IYF) and the Hombuilders ($XHB) ETF's broke through key overhead resistance levels this week.

The Broker/Dealer ETF ($IAI) also broke through the resistance in the $25-$27 area.

All of these ETF's broke through these prior resistance levels on BIG volume!

Follow through is the key but the amount of volume we saw at the end of last week in a hopefully a sign of good things to come.

In last weeks BLOG POST we told you that there were a TON of stocks pulling back nicely off of their most recent highs.

Hopefully you were able to get into some of these trades this week.

There were loads of what we call "text book" swing trades to take this week.

A few stocks with favorable risk/reward setups were $MEE, $EC, $ANN, $GS, $BBY, $SKS and $APC to name a few.

$SPG ripped and even $F was a rock star this week!

There were some stocks that actually rolled over this week but with the market breaking out to new highs we have no need to focus on the SHORT side.

Although we will continue to watch BOTH sides of the market to determine overall strength and weakness just remember that CONTEXT is the KEY that allows you to take action.

CONTEXT tells us the market is way too strong to try to fight it but that being said it is also warning us NOT to chase it up at this point!

If for some reason you missed last weeks action BE PATIENT and wait for your trades to set up for you.

Sometimes it is hard to sit and wait when the market is moving up the way it is but often times that is the smartest thing to do.

Until next week…Good Trading to YOU!

Tags: APC, ETF Swing Trading, Financial ETF, Retail ETF, Sector ETF's, Swing Trading, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies, Swing Trading Volume, XHB, XLE, XLF
Posted in ETF Swing Trading, ETF Trading, Stock Market Update, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts | 1 Comment »

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.

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.

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.

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.

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.

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.

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.

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!

Tags: ETF Swing Trading, Financial ETF, RTH, SHORT SWING TRADING, Swing Trading, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies
Posted in ETF Swing Trading, ETF Trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts | No Comments »

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.

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!

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.

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!

Tags: $AMZN, AAPL, DBA, DOW, ETF Swing Trading, Financial ETF, MON, MOO, MOS, Sector ETF's, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns
Posted in ETF Swing Trading, Swing Trading, Swing Trading Blog, Swing Trading Charts, Technical Analysis | No Comments »

Swing Trading Week in Review – September 3, 2010

Sunday, September 5th, 2010

Swing Trading Blog Post-

What a difference a week makes.

In last week's BLOG post we told that their were buyers at the 10,000 level in the DJIA.

We saw the buyers step in and hold the market up last week and again on Monday and Tuesday of this week.

Wednesday is when the real fun started.

After a big GAP UP Wednesday morning we saw the market rally the rest of the day to finish just off the high of the day.

Thursday brought more of the same and then the GAP UP, sell off and intraday reversal during Friday's session is a clear sign that buyers were in control.

The market continues it's erratic behavior and if you have trading for any amount of time you know that the month of September is likely to bring more of the same.

Last week we posted about the strength in the Agriculture related ETF's…DBA and MOO.

We gave you the "head's up" to watch this sector as it seemed ready for it's next move to the UP side.

Both ETF's followed through nicely this week as the market pushed higher to end the week.

Several of the other "strong" ETF's rallied to new multi month highs this week.

The Real Estate (IYR) and Utilities (XLU) are on this list as well as a few International ETF's like THD and BZF.

We also saw the Energy (XLE) and Retail (RTH) ETF's break their short term down trend lines.

The weak sector's we identified last week…the Semiconductor's and FInancial's…put in a decent bounce off of their recent low's.

We wondered last week if these sector ETF's were going to "bounce" back to their 50 Day SMA's or if they were ready to push to NEW LOW'S.

We got our answer although the "bounce" in the semiconductor's was really less than impressive.

The last 3 trading sessions have taken the market and several stocks to near short term "over bought" levels.

We are not going to chase the market at this point and will simply wait for the next opportunity to initiate some trades.

We will let our current trades play out and manage our positions accordingly.

September is notorious for being a slow, choppy month for trading so be patient and wait for your ideal setups to get into the market.

Until next week...Good Trading to YOU!

Tags: DIA, ETF Swing Trading, Financial ETF, Retail ETF, RTH, SMH, Swing Trading, Swing Trading Chart Patterns, Swing Trading Price Action, XLE, XLF
Posted in ETF Swing Trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts, Technical Analysis | No Comments »