ETF (Sectors) swing trading

2nd XLF Short execute at 25.20, so 25.22 is average.

Btw. Room is already prepared. Check you PM.

 

Still in XLF swing short.

Also today I entered prepared BBH Short, will see if it will work. Also have SPY Short setup and TLT Long setup (not entered since now)


What about your ETF trades ?

 

I checked out the site and registered, but I can only find one page in English. Help please!

 

So my todays situation:
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Closed positions yesterday:

** XLF Short, entry: 25.20, exit: 25.07 (trail-stop), P/L: +0.13 pt
** XLF Short, entry: 25.27, exit: 25.16 (trail stop), P/L: +0.09 pt

Open positions:

** BBH Short, entry: 129.24, stop: 130.50, target: 126 - 125 - 124
(entered 27.08.2003)

New setups for 27.08.2003

** TLT Long, entry: 84.15, stop: 83.10, target: 86.80 - 87.00- 87.60
breakout for correction

** SPY Short, entry: 98.40, stop: 98.90, target: 97.20 - 96.30 - 95.40,
breakdown via support, weakest broadbased ETF

** UTH Long, entry: 70.80, stop: 70.30, target: 72.00 - 72.30 - 72.80 breakout after consolidation

** PPH Short, entry: 74.90 - 75, stop: 75.70, target: 72.80 - 72.10 - 71.50
Short on downtrendline - resistance, weak sector


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Any comments ?

 

rich does the low volume in some of these affect your trading plan?

 

No. Volume has no big sense for me in sector's ETFs. I like volume as indicator, but for ETFs is usable only for QQQ,DIA,SPY.

I have noticed only usage of volume if I see big volume spike on key reversal point (support/resistance). Let say if I see big volume spike on support with combination of candlestick, I think about it as more important level.

 

Had an urgent family situation the last few days.

I totally see your logic on the first three trades and they make a lot of sense. Can you explain yourself on the last one?

fyi: Haven't registered yet - I've been out of town. Will do that as soon as I can.

 

What symbol ? PPH ?

 

For example IYR which was on your watch list. It has traded 7900 shares today. My usual entry is 2-4K shares and then build from there. I don't want to be a significant percentage of any market. And there is a 25 cent spread there right now.

A number of the ETF's trade very low volume that way.

 

Yes, PPH is what I was wondering about.

All great plays by the way - classic TA with great risk/reward.

I learned a lesson: I was out of town and couldn't get TWS to work with any of the computers I had out there! I heard the mkts had been flat so I just hung in there for a few days. Now I'm scrambling...