Posts Tagged ‘TIF’

Swing Trading Week in Review – April 23, 2010

Friday, April 23rd, 2010

NEW HIGHS…YET AGAIN!

Last Friday when the news came out about Goldman Sachs a lot of traders (including us) started to wonder if the market would finally pullback after a bit of negative news.

Well this week the market spoke LOUD and CLEAR by finishing a strong week at NEW HIGHS for the year.

That makes this an almost 1400 point rally since "that reversal day" which happened on February 5th.

DJIA 1400 Point Rally

As far as individual sectors go the FInancial ETF's (XLF, IYF, IAI) all had a strong week but DID NOT make news highs with the market.

The Semiconductors ETF (SMH), which broke out last week, had a lackluster week but we will continue to watch for follow through to the upside.

The Oil services (OIH) and Energy ETF's (XLE) finally broke to the upside this week.

OIH ETF - Swing Trading Break Out

A few weeks ago in this blog we posted about the relative strength we were seeing in the Homebuilders ETF (XHB).

This week XHB setup another very nice swing trade opportunity.

We posted the details about the trade HERE but lets look at the chart.

XHB - ETF Swing Trade

With the market being this strong there were a TON of individual names that were UP strong this week.

The Retail sector was particularly strong with stocks like JWN, SKS, TIF and several others having a great week.

So will the incredible strength in these sectors and the overall market continue as we move into next week?

Of course no one knows for so just continue to listen to the market and position yourself accordingly.

DO NOT get complacent and let your guard down.

Follow your plan and your trading rules and be prepared for ANYTHING.

Until next week…Good Trading to YOU!

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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!

 

 

 

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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.

RTH - Retail Sector ETF

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.

TAN - SOLAR ETF

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!

 

 

 

 


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