A Swing Trade With Some Potential

  • May 17, 2005
  • Derrick Hobbs

Let’s
keep it real simple tonight and talk about a long swing trade for a
couple of points:

The Energy SPDRs (XLE) have hit
the bottom of a downtrending regression channel and the 200 day simple moving
average and a large Fibonacci price support zone from 36-38.50. This looks like
a great opportunity for a swing trade up to 41 to 42.

“That’s all I got to say about
that” — F. Gump

 


 

Good night all!

Derrik