Blog - Page 258 of 641 - Hit & Run Candlesticks

CRON Up 32.7%

June 11, 2019 by Rick Saddler

💲 Thank you for reading our blog! Yesterday I posted about CRON and that we were stalking CRON for a trade. We bought CRON soon after the open and when the market closed our 😎 CRON trade was up 32.7%. 👀 The LTA Live Trading Alert Scanner and the Hit and Run family is the best of the best. All buys and closes announced in HRC Live Trading Room, be sure to tune in starting at 9:10 Eastern when I’ll review the markets, trade ideas.

👀 The SPY closed another 1.32% and above the 50-SMA, the 5^th day for higher lows and higher highs. In a yesterdays blog post I had written “the close is what counts” and over $289.20 would be amazing, well the high was over $289.20, but the close was below and yesterday’s candle was a Shooting Star, A Shooting Star at resistance and after being up five days in a row. Could the Shouting Star be a warning sign for a little profit taking within a day or two? And let’s think about the 50-SMA, the price has closed and rallied above the 50-SMA without a test as of yet. The only thing I can say is “don’t run with scissors” The VXX is hanging out near a support line, but the price did not close like there was much fear, perhaps the fear comes in a day or two.

👉 CRON popped for us closing up 32.7% in the first day. We will manage the trade based on our rules and what we teach in the trading room.👇

🎯 CZR is another chart we are stalking this week on our watchlist; The weekly chart has constructed a bottom followed by a Bullish Engulf and follow-through over $9.65 with a qualified chart pattern we could be tempted. CZR alerted yesterday on the

#1 Tool in my toolbox “The LTA Live Trading Alert Scanner? Members are sure to be in the trading room about 9:10 Eastern when I review the markets, trade ideas, and CZR. WYNN, KMX, QCOM, ARCC, AIG, ROKU, SMAR are also on our list.

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Massive reversal of sentiment.

June 10, 2019 by Doug Campbell

What a massive reversal of market sentiment as the bulls find even more energy to extend this incredible relief rally. Is this irrational exuberance? Perhaps, but it would be very unwise to try and fight it or predict when it will be over. Remember the market can remain irrational much longer than you can remain liquid if you try to fight the bull.

Asian markets closed higher on better than expected trade surplus numbers. European markets are bullish but subdued ahead of UK economic data this morning. US Futures point to more than a 100 point Dow gap after avoiding tariff increases with Mexico and news of a huge merger between United Technologies and Raytheon creating the 2^nd largest defense company in the world. If your long this morning remember gap are gifts taking profits or scaling. Never allow greed to get in the way of taking a profit. If you miss this rally then for goodness sake don’t chase it this late in the move with the fear of missing out. Stay disciplined and exercise patience waiting for the next entry.

On the Calendar

On the Earnings Calendar we have about 30 companies reporting their quarterly results today with none that are particularly notable unless you happen to own one of them. Make sure always to check earnings dates a part of your market preparation.

Action Plan

A deal with Mexico to avert tariffs, a larger than expected China trade surplus and a merger or United Technologies and Raytheon continue to inspire the bulls higher this morning. US futures are suggesting more than a 100 point gap in an already very extended relief rally even as the president expresses the willingness to add 300 billion in Chinese tariffs. Is this over-exuberance and a bit nonsensical? Maybe, but as a retail trader it’s unwise to fight the bull or try to predict its conclusion because they can run right over you.

While I feel this relief rally is very extended and this mornings gap has the potential to end as a pop an drop I must stay focused on the price action trading what is not what I think it should be. As Jessie Livermore once said, “The Market is never wrong but opinions often are”. Stay disciplined to your rules taking profits or scaling out not allowing greed to interfere with taking profits. Remember gaps are gifts! If you have missed this rally then for goodness sake don’t chase it with the fear of missing out. Be patient and wait for the next entry based on good price action and analysis rather than emotion.

Trade Wisely,

Doug

Profits On MCD

June 10, 2019 by Rick Saddler

💲 Another great day this past Friday closed out the last ½ of MCD for a 50.9% base hit or $410.00. Knowing how to make sense of a chart, the LTA Live Trading Alert Scanner and the Hit and Run family is the best of the best. All buys and closes announced in HRC Live Trading Room, be sure to tune in starting at 9:10 Eastern when I’ll review the markets, trade ideas.

👀 The Bull did it’s a thing again on Friday, gapping and closing above the 50-SMA followed by four higher closes (AMAZING). We have added a resistance line because of the multiple touches between the buys and sellers at $289.20. There is no question the 👈Bulls have had a great run, and we may even see more of it today, the close is what will count. Over the 50-SMA was major and the bull deserves a rest but not required. A close over $289.20 would be another amazing day, and unfortunately, the FOMO (Fear of Missing Out) sickness will hit many swing traders, let’s not forget the 3-day rule, plan your trades and wait for the trap to work. Price in the VXX 15-Min chart is still trading below the T-Line Red Dots, and the FNGU 15-Min chart is trading above the T-Line Green Dots. At Friday’s close.

👉Bought MCD on June 4th, July 19 $125.00 Calls. Closed on June 7, for a 💲 50% profit. 😎 I’ll take a Big Mac, Fries, and a Coke, please.

🎯 CRON is one we are stalking this week on our watchlist; If you look at a 3-day chart, you can see the Double Bottom and Bullish Engulf. We are bullish on CRON over $16.00 with a qualified chart pattern. CRON alerted a couple of times last week on the #1 Tool in my toolbox “The LTA Live Trading Alert Scanner? Members are sure to be in the trading room about 9:10 Eastern when I review the markets, trade ideas, and CRON.

Download TC2000 and trade t the T-Line T-Bands, Red/Green Trendicator

A Traders Edge In All Markets

Acton Plan

Don’t fall into the (FOMO) trap: The Fear of Missing Out
Use our base hit strategy, sell into strength
Buy close to your stop and support
USE the LTA Trade Alert Scanner to find the winners

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Light at the end of the tunnel?

June 7, 2019 by Doug Campbell

There may be some light at the end of the tunnel this morning with news Mexico has made concessions that could avert the 5% tariff increase on Monday. That would be a welcomed relief and the US futures point to a bullish open ahead of the Employment Situation report. Asian market closed mixed overnight but European indexes are green across the board this morning.

With possible interest rate cuts in the signaled by the Fed the 8:30 AM Eastern Employment Situation report could create a significant price reaction upon its release. If you’re rooting for a rate decrease a miss of the 180K consensus estimate is likely to help Fed or even speed up their action. A strong jobs number could impede or slow the FOMC decision and receive a negative market reaction. No matter what happens consider the risk carefully you carry into the weekend after such a steep market rally.

On the Calendar

We have a light day on the Earnings Calendar with only 16 companies reporting. Looking through those set to report but none are particularly notable.

Action Plan

According to reports Mexico has made concessions that may avert the 5% increase in Tariffs scheduled for June 10^th. If true that is very good news for US car manufacturers and a welcome relief to the overall market. US Futures are once again looking to extend the relief rally that has recovered more than 900 Dow points in just three days so far.

Of course the Employment Situation report at 8:30 AM Eastern will have something to say about how the market opens today. If the number comes in less then the 180k consensus estimates the market may see that as good news supporting the idea of lowered interest rates in September. Should the number come in strong the market may see that negatively as it works against the hoped-for rate cut. One thing is certain this will be a heavily watched report that may inspire a significant market reaction upon its release. Having seen such a steep rally this week consider the weekend risk as you plan your day. Have a great weekend everyone.

Trade Wisely,

Doug

Friday SPY Nearing 50-SMA

June 7, 2019 by Rick Saddler

💲 Yesterday 6/6/19 we closed AMD for an 89% win and SNAP for 82% win. AIG has a small gain and MCD we are holding at an 18% gain; we did close ½ MCD yesterday near the close (love the base hits). All buys and closes are announced in HRC Live Trading Room, Be sure to tune in starting at 9:10 Eastern when I’ll review the markets, trade ideas.

Another fine day in the market for Thursday even with the nail biters waiting for the Friday Jobs number. Good or bad? Your guess is a good as mine; we will know after the blog is posted. The SPY weekly chart has printed a near Bullish Engulf. Follow through over $284.80, challenge and win the pin of the 50-day SMA would suggest the bulls are back in town. Anything short of closing over the 50-SMA or a weak candle by the end of the day would but a possible Blue Ice Failure on the table. With as much as the SPY has rallied, you would think a little profit taking would be in order. The VXX pre-market is not giving any clues just yet, and the FNGU (FANG) chart is showing a nice little gap, so much can happen in a day of trading.

👉 The two charts below 👇 are AMD and SNAP both closed yesterday for 89% and 82%. I thought you might find them educational and helpful; please feel free to ask questions about them in the trading room if you like.

🎯 It’s Friday, and I don’t post trade ideas on Friday, but we do cover trades and the market in the trading room starting at 9:10 am “The LTA Live Trading Alert Scanner, and TC2000 are my #1 tools I trade with? Members, be sure to be in the trading room about 👉9:10 Eastern when I review the markets, and your trade ideas.

A Traders Edge In All Markets

6/7/2019 Acton Plan

Friday is payday, clean up the dead wood and count your money
Use our base hit strategy, sell into strength
Grow rich trading base hits
USE the LTA Trade Alert Scanner to find the winners

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Overextended?

June 6, 2019 by Doug Campbell

The extraordinary rally is a welcome relief but not one must wonder if the exuberance of the potential interest rate cut is now overextended. One thing for sure is that we have moved a long way in a very short period of time and a little pullback would not be out of the question. Be careful not to chase. Asian market closed mixed but mostly modestly lower overnight. European markets are currently green across the board as they await an ECB rate decision.

With the DIA, SPY and QQQ back above their respective 200-day averages repairing some of the technical damage in the charts but that will only be true if the bulls can prove to hold them as support. We have the big Employment Situation number Friday morning so don’t rule out the possibility of light and choppy price action after the morning rush as we wait. Remember some profit taking could begin at any time with the Dow having risen more than 700 points in just two days.

On the Calendar

We have fewer than 30 companies reporting quarterly results today. Notable reports include OllI & SIG.

Action Plan

After two big days of rally on the hope of an interest rate cut futures are once pointing to a modestly bullish gap up open. However that could certainly increase or decline as we move toward the open with International Trade, Jobless Claims, as well as Productivity & Cost numbers at 8:30 AM Eastern. It will be interesting to see if the bull can maintain their enthusiasm after Goldman’s warning that the market has overpriced the possible Fed cuts.

This morning we are also waiting on an ECB rate decision. A surprise cut or increase across the pond has in the past moved US markets significantly in the past so keep an eye on those early morning futures. Although the indexes are still well below their 50-day moving averages the DIA, SPY and QQQ have pop above their 200-averages reliving some of the technical damage. If some profit takers do soon come in holding above these key averages will be very important. Remember we have the Employment Situation number Friday morning so after the morning rush don’t be surprised to light and choppy price action as wait.

Trade Wisely,

Doug

AIG Morning Star Sweet Spot

June 6, 2019 by Rick Saddler

Yesterday 6/5/19 we closed BABA for a small loss and 💲 closed KO for 50% profit a good day all in all AIG, AMD, and SNAP held well into yesterdays close. We will monitor them carefully. We also picked up a little MCD near the close yesterday. All buys and closes are announced in HRC Live Trading Room Be sure to tune in starting at 9:10 Eastern when I’ll review the markets, trade ideas.

The SPY had another Bullish day yesterday trying to defy gravity (don’t bet on that for too long we are very overextended) We had a target line drawn for the SPY and missed it by .01. The number for the bulls to beat now is $284.20, followed by a $285.70. I would expect a little profit taking and backfilling before these numbers can be challenged. On a profit-taking pullback, I will be using $278.90 as support. The VXX is a little active this morning, and I did discuss the VXX and the intraday candles yesterday near the close in the HRC Trading Room.

🎯 AIG is one we are stalking today on our watchlist; we already own the August 50.00 Calls and would like to add to the position. AIG is currently sitting in the T-Line Band Sweet Spot following a bullish Morning Star Signal. AIG also has been alerting on the #1 Tool in my toolbox “The LTA Live Trading Alert Scanner?

Members, be sure to be in the trading room about 9:10 Eastern when I review the markets, trade ideas, and AIG, SPWR, ROKU, SHOP, OKTA, CSX, HON, SNAP, CRON

A Traders Edge In All Markets

6/6/2019 Acton Plan

Monitor the VXX for signs of fear
Use our base hit strategy, sell into strength
Grow rich trading base hits
USE the LTA Trade Alert Scanner to find the winners

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Interest Rate Cut?

June 5, 2019 by Doug Campbell

According to new reports the Fed is leaning toward an interest rate cut and the prospect of low-cost money has futures suggesting a substantial gap up this morning. Asian markets closed mixed but mostly higher overnight and although Europe is pondering a punishment for Italy’s continued deficit spending their indexes are bullish across the board this morning. But does that mean we should throw caution to the wind and chase into this morning gap? No.

The fear of missing out is a powerful emotion but considering the magnitude of the move over the last 24 hours chasing in could prove to be a painful lesson in patience. Consider the possibility of a pop and drop which would not be out the question after such a big reversal. Gaps are gifts and I in fact will be looking at the morning gap as a reason to take profits. Maintain your discipline waiting to see if buyers step up to support the morning gap before considering new long positions.

On the Calendar

On the hump day Earnings Calendar we have just under 30 companies reporting. Among the notable are FIVE & VRA.

Action Plan

The top story splashed across my CNBC app this morning is “The Fed is indicating that a rate cut is coming”. Markets love the prospect of lower cost money and we see both Asian and European exchanges rising on the hope. Consequently, the US futures are signaling a sharp gap up this morning around 150 Dow points. That would constitute about a 650 point rise in just over 24 hours. As exciting as that is, too much of a good thing in such a short period could bring out the profit takers.

The fear of missing out is a very strong emotion but chasing into the open after such a big reversal in price can prove to be a very expensive lesson on patience. A lesson, that had to be taught to me more times than I care to admit. Rather than chasing into positions on big moves such as this I use it to take profits and scale out of trades. Gaps are gifts that I tend to open regularly to collecting the gains and lowering the risk of the volatile price action. I’m not trying to predict anything but this mornings gap could easily set up a pop and drop. Stay focused and maintain your discipline waiting to see if buyers step up to support the morning gap before considering new long positions.

Trade wisely,

Doug

ROKU 3×8 Trap Setup

June 5, 2019 by Rick Saddler

Yesterday 6/4/19 we closed ½ of SNAP for a sweet 27% base hit as the market began to draw to an end. We also picked up a little BABA ending the day up 11% based on the 60-min chart and an (RBB) Rounded Bottom Breakout. AIG and KO and AMD are doing fine and holding well.

POW! What a great day yesterday, price action took out our $280.10 line and pre-market today have already tagged our $282.50 line. Yesterday’s price action as great as it was, the SPY chart is still in a downtrend. When price closed over the downtrend line and constructed a bottom we will have a ton of nice long charts to choose from, but first thing first. The bulls will need to challenge the $283.00 line followed by $286.00. By following the 3×8 Trap, you will be able to see when the 3-EMA is above the T-Line, that will be a sign the SPY is in a bullish direction. At the close of yesterday, the trend is still down.

🎯 ROKU is one we are stalking today on our watchlist, ROKU is in a T-Line Run and yesterday was triggering on the LTA Scanner as a 3×8 Trap, and the LTA T-Line Band alert was going off “Sweet Spot-Sweet-Spot.” Members, be sure to be in the trading room about 9:10 Eastern when I’ll review the markets, trade ideas, and ROKU. More trade Ideas we will consider FSLR, CECE, LMT, AIG.

A Traders Edge In All Markets

6/5/2019 Acton Plan

Plan relief rally trades
Use our base hit strategy
Fight the urge to predict a bottom
Grow rich trading base hits

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Anti-Trust Investigations

June 4, 2019 by Doug Campbell

With the news the DOJ may begin anti-trust investigations of Google, Amazon and Facebook the QQQ dipped into correction territory yesterday. Amid all the current market uncertainty they choose now to pile on more uncertainty? There timing is impeccable considering that Fed member James Bullard said it might be necessary to lower rates sooner than later to deal with the economic impacts as the trade war uncertainty persist.

Futures are pointing to gap up open around 100 Dow points and perhaps signaling a relief rally may be in order. Remember a relief rally can be very brief so don’t mistake a little short covering as a recovery. We have significant technical damage that needs to be repaired as well as key price resistance levels above that must be reclaimed before recovery can begin. Consider your risk carefully and remember price volatility is likely to remain high.

On the Calendar

On the Earnings Calendar we have just 19 companies reporting quarterly results. Notable reports include GME, CRM, CBRL & TIF.

Action Plan

It seems rather remarkable amid trade war concerns, Mexican tariffs and global slow down worries the DOJ has decided to begin anti-trust investigations against Google, Amazon and Facebook after years of complaints. Their timing is impeccable don’t you think? James Bullard a voting member of the CBOE suggested yesterday that trade war concerns may warrant a reduction in the interest rate raising fears of economic impacts. His comments created significant price volatility as the market grappled with the implications.

US Futures are currently suggesting a gap up of more than 100 points this morning and perhaps signaling a relief rally to test resistance levels of price and downtrend. There is tremendous technical damage so I would not expect the bulls to rush back in a big way but perhaps we have found at least a short-term bottom after the QQQ officially reached correction territory yesterday. Be careful not to chase the morning gap to avoid the possible pop and drop pattern like we experienced yesterday. Remember volatility is likely to remain high so intra-day whips and reversals may challenge the resolve of even the most experienced traders.

Trade Wisely,

Doug