Rick’s Featured Trade Ideas

EMR/Long (Industrial sector)  EMR  The chart has presented a Bullish Engulf followed by bullish follow-through, a flag pull back reversing off of the 20-day simple moving average and a bullish Doji continuation pattern.  Ending up as a Rounded Bottom Breakout.
(EMR Earnings 11/3 BMO)

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We go over all Trade Ideas (entry, stop, targets) in the trading room starting at 9:10 AM EDT today.

EMR/ Profits through education  Oct. 23
Possible entry plan idea:   Buy box $Members Only
Possible stop plan idea:   Stop below $
Risk Reward 4:1 depending on entry/exit/stop
EMR Earnings 11/3 BMO

Something to Think About
Friday’s, a good day to take profits.

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SPY:   Thank you, President Mario Draghi and European Central Bank for pumping more economic stimulus into the market so the Bulls can rally on horrible economic news.   The SPY closed just shy of the 200-day simple moving average, and according to the morning futures, we are likely to see price above the 200-day simple moving average.  As I have said many times the past few weeks, trade this bullish rally but be very careful as we approach heavy resistance, nothing changes.

The SPY did break out of a bullish “W” pattern at $202.89.  Price has also closed over the 34 and 55 EMA’s but slightly under the 50 simple on the weekly chart.  Heavy resistance starts around $206.20.

IWM:  IWM did not participate yesterday and ended up closing with a Doji spinning top.  I see the morning futures are up a bit.
SMH:  Terrific run the last few weeks, now starting to approach heavy resistance.  The question is: can this bull army push through?
IYT: The transports sure are taking their dear sweet time.  Set up for a bullish J-Hook breakout but has yet to actually break out.
S&P VIX Short-Term Futures
VXX:  Likely to see an intraday low today.
This Week’s Economic Calendar—> Click Here

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits. Remember to check for earnings!
Symbols from TC2000

Keep your eye on the inverse ETF’s They trade well!
To see all of today’s trade ideas Click Here
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control.  A close below the T-Line ™ implies the bearish short-term swing traders are in control.

Energy Sector: XLE, SX90, ERX, USO  A close above the T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.

SMH: A close above the  T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.

IYT: A close above the  T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.

US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.  Learn more about the T-Line – Click Here

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.