09-28-14 Trade Plan

The indices are still chopping around and small caps are under performing pretty bad.  The Dow failed in trying to lead the market higher but is still holding up better than the S&P and the NASDAQ is holding up better than all of them.  So that keeps my focus on the NASDAQ and the Dow.  But no matter what is looking better on a relative basis I still need to see higher highs and lows on an intraday trend to be more aggressive in taking positions and looking for leading moves.  We don't have that yet, let's take a look at the 130m charts.

09-21-14 Trade Plan

The indices are holding up well with now the Dow Jones leading the way higher.  I don't exactly love trading the Dow and Dow stocks but you go with the flow of the market.  If the Dow wants to try to be the "surprise performer" for a little bit then so be it, I'm willing to give it a shot and trade some good setups in large caps.  Especially when setups were starting to dry up in tech stocks as I was saying last week.  The Russell is still a mess and did end up breaking that $115 level, which put it in negative YTD again and told me to move on.  NASDAQ isn't in a bad spot here, breaking last weeks high could trigger a new leg up and that's something I'll be watching for along with the Dow move that is in progress.

09-14-14 Trade Plan

For the NASDAQ this was the third week in a row of nothing happening and the Russell is having a lot of trouble holding up.  This week there really isn't anything to talk about, not many setups and choppy action in the indices.  That makes me not want to trade much and pull back money.  My trading style is aggressive when price is moving well and retreat when things aren't going smoothly.  So lets look at where we are at.

09-07-14 Trade Plan

All we got this week in the indices was some chop within the up trends on the daily/130m time frames.  While this chop is taking place we are seeing some new stocks setting up and some old stocks falling out, which is exactly what you want to see for some trend continuation.  We still haven't seen any weakness in the indices and with Friday's low I think we have a defined area that if broken will show weakness.

Two notable names this week that saw some heavy selling, both huge winners this year.  GILD and AAPL.  This is why you have to use your stops in relevant areas to get you out when swing lows start breaking.  Both of these were in 30 minute up trends and holding every single swing low along the way, the signal to get out of the way for me was when the swing low couldn't hold.  Simple as that.  All you need is relevant price points and you can make quick effective decisions.

08-31-14 Trade Plan

We had some sideways price action this week within the larger up trends.  The week finished out re-asserting higher highs and lows in the 30 minute trend after some chop during the week.  This move we are in is incredibly strong especially in the NASDAQ and the NASDAQ stocks are trading like a dream.  We don't know how long these trends are going to hold, all we can do is follow the trend and use swing points to manage risk.  The Russell is also holding a 65m trend very well and is still in a pattern of higher highs and lows.  Next higher high would require breaking $117, or last weeks high.

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