Thursday, January 28, 2010

Trading ideas (swing) long and short

More details to follow, with rationale, reasons, etc,,, but here's what I see right now

Right now, I'm LONG SSO (SPX) and LONG DDM (DOW). But I want to add MORE longs, unless charts change of course.

SPX 1085 then 1030
I believe that SPX will break 1085 and then hit 1030.

SPX 1113/ 1120 / 1130
BUT before that plunge, I expect a rally up first, to 1113/1120 area. Yes, I've added a second target of 1120.. could even see 1130. More precise target later, forthcoming...

VIX backtest down (could hit as low as 19).  More precise target later, forthcoming...

TODAY I did post (in Ramblings below) that I got a swing LONG setup  and signal... details later... but this setup consists of chart patterns as well as about 20 indicators.



DOW 10,450 (more precise target later)

I'm already long the DOW from 10,200 as previously posted. I shorted the DOW near 10,725 and then covered those shorts at 10,200 and then immediately reversed long at 10,200 (using DXD and DDM)


TRADING PLAN
Trading plan - swings 1-4 days... I expect the Friday report (next week) to be bad so will probably exit any longs before then. Also, these rally swing long positions also have a 1-4 date period before the fizzle, so that aligns also.

Here's what I'm looking at for new trades:

LONG QQQQ
LONG SSO
LONG XLF??? (NEEDS more analysis)
LONG TBT (but may not be ready to buy tomorrow)


SHORT VXX



* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".

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