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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
Posted in ETF Swing Trading, Stock Market Update, Swing Trading, Swing Trading Blog, Swing Trading Charts | No Comments »

Swing Trading Week in Review – February 26, 2010

Friday, February 26th, 2010

A pullback in market this week but what an interesting pullback it was!

The markets opened this week with a low volume lackluster Monday.

Tuesday the market popped out of the gate but quickly rolled over confirming the retrace was underway.

As we noted last week we entered into several new SHORT positions by the close on Friday.

These SHORT positions (AMSC comes to mind) sold off nicely with the market and we booked profits on most of these trades.

Wednesday price "stalled" on low trading volume again creating an "inside day".

Then on Thursday things got a little interesting…

The market gapped down BIG TIME on Thursday but buyers stepped in and the market rallied strong and closed near the high of the day on BIG VOLUME.

Then the week finished off with a low range, choppy day on Friday.

A few interesting things to note here.

During this most recent pullback we saw the buyers step into the market when prices retraced "far enough" and drove prices right back up.

There was only one day, Tuesday, when the market closed BELOW the swing high of 10314.84 that was put in on February 2nd.

We told you last week that until the week shows us which way its going we will continue to play both sides of the market.

Thursday's price action had us looking to the LONG side and we were able to find several strong stocks with chart patterns that were just too good to pass up!

One sector really shined that really shined this week?

RETAIL!

Yes retail…the RTH…broke its DOWN TREND CHANNEL last week and after a mere one day pullback on Tuesday it rallied nicely right into Friday.

TIF, M, HD and ANN all had nice UP moves this week.

On the other end of the spectrum is the SOLAR sector.

The SOLAR ETF, symbol TAN, continued its downward spiral finishing just off the low of year.

So once again we find ourselves at a crossroads.

UP or DOWN?

LONG or SHORT?

Want our opinion?

We say….WHO CARES!

Have a great trading plan in place and be prepared for whichever way the market goes from here.

If you are getting whipsawed in this current environment then reduce your trading size or even sit on the sidelines until YOU see the trading set ups that make the most sense to YOU and your trading style!

Hopefully next week we can get some follow through one way or the other.

Until next week…Good Trading to YOU!

Tags: ANN, HD, Retail ETF, RTH, Sector ETF's, Solar ETF, Stock Market Update, stock trading, Swing Trading, Swing Trading Chart Patterns, Swing Trading Price Action, TAN, TIF, Trading Volume
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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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