NFLX down big could shake the tree a little, more big earnings today and tomorrow. Yesterday near the close we bought VXX calls and earlier in the day we bought BABA calls. F is resting and consolidating in tier 1 of the T-Bands. CPB was broke out of the wedge and holding well. QCOM gapped yesterday kudos to those that took profits near the highs. Looks like QCOM needed to test the recent pivot. We have added a couple of new scans to the scanner and will hold a clinic this Friday at 2: pm in room #3.
👉 Full disclosure, we are actively trading all stocks mentioned in the above paragraph. We may close or add more at anytime. To learn more about us or join in the live trading room consider an HRC membership or trial
👉 Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.
Pre-Market Thoughts
NFLX OUCH! And there are a few other big names today and tomorrow, grab ahold of something and hang on. Seriously if think trading around earnings date the simple answer is don’t take, cash is a position. The SPY has bee forming a Megaphone top for about the last 1-1/2 years, and the recent top is the 3rd time touch. Yesterday proved to be another lower low and lower high. $295.65, $293.75, $291.15 followed by the 50-SMA are four possible targets and bounce points on the SPY. A few scans we like to use is the Blue Ice Failure, Rounded Top breakdown, and Bear Trap Scans. The VXX chart shows a little spunk the last two days with a Doji and a Bullish Engulf. If the VXX can show positive price action over the T-Line, we could be in for a bit of a market pullback. Trade with extra caution and wise.
😊 Have a great trading day – Rick
🎯Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade: PYPL, TGT, and ZS. Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.
🎯 Friday 6/21/19 (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.
Trade-Ideas
✅ FFor your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for for the QEP → (QEP) Quality Entry Patterns). All short trades today, AAXN, BOLD, FRPT, TSN, PAYX, CCEP, PLNT TGNA, ZYNE. Check Earnings!
Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.
We use the Worlds Best Trading Tools, TC2000 for charting, LTA-Live Trading Alerts for real-time price action, candle and candle patterns, and western patterns. The right tools for the right job.👍
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