Kentucky, IRAs and ROTHs will work only under certain conditions. At (what I believe your age is) if your investment is in you ROTH, you have no capital gains tax to pay. But you are still limited with annual contributions to seed it, so I do not think your LOC funds would fully qualify to use in the ROTH.
Both IRAs and ROTHs are great places for long term investments. For younger folks, you need to consider the 10% penalty for early withdrawal fees, but still a great place to let your investments grow. As AP17 mentioned, there is no "ST" or "LT" capital gains taxes, so trade to your hearts content. But you do pay LT Capital Gains taxes on any withdrawals from your IRAs.