Don’t Panic, Don’t Impulse Chase
Don’t panic, don’t impulse chase today, need I say more? The smart trader has set protective stops on current trades and is having a cup of coffee thinking about going fishing when the sun comes up. The market is not friendly or sane right now, my god it’s getting lead around by TWEETS, how crazy is that.
We will post possible trades live only when the market takes it’s pills and calms down.
Live Members Morning Prep starting at 8:45 AM Est. With Steve Risner and Rick Saddler at 9:10 am this morning. members morning briefing
Recently closed
VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •
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SPY • Yesterday’s Harami
WOW! it was a great feeling to see the buyers come back yesterday from the $256.84 low to close with a Bullish Harami. But wait the bullish Harami did not close over the T-Line, so there was no follow through. Maybe today we get follow through….LOL that’s funny…have you saw the futures this morning. My trading spidey sense tells me I should only manage what I already have and probably not take on any more trades. Ya, Think!
From the eyes of a swing trader…The only thing I see in the SPY chart is a big bearish “h” pattern, a bearish “m” pattern and a little bearish “h” pattern. If it sounds like a duck and quakes like a duck……must be a duck
The VXX short-term futures
The VXX chart even though it closed off the previous day’s highs it maintained it’s spot above the T-Line and added the 11th day to the bullish T-Line Run.
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Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.
Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.
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