This is an unsolicited and non-paid interview with Right Way Options member Mike P. Mike shares how how he uses a simple disciplined approach to trading options that produces consistent profits. Mike goes into detail and provides actual trading statistics including his biggest mistakes.
The SPY is set up for bullish consolidation with pending political news and tomorrow being a holiday. Friday was the first day in about 17 days that price has helped its nose above the T-Line for any length of time before closing back below the T-Line. Friday was also another higher low and high, haven’t seen one of those in a couple of weeks. On the daily chart, Friday did close below the T-Line but with a resting Doji while the weekly chart closed up the week with a Bullish Harami. Let’s not get too excited the sellers still have the upper hand while the T-Line is below the 34-EMA. It does look like the futures are on the buyer’s side this morning, but the close is what matters now
Right Way Options Room Update – The RWO trading room is
Top Gun Day Trading – The Top Gun Day Trading room is up over $3,000 in December while risking only $100 to $200 per trade. Our latest trades include: 400 shares of SPXS for +$163.00
Hit and Run Candlesticks • The Road to Wealth – For 2019 Rick plans on taking the now $23,567.00 account to $50,000.00 before December 31, 2019. Remember he already has increased the account from $5,000.00 to $23,567.00 or 362% in 2018. If you would like to learn from someone that truly makes money not just one hit wonders and backs it up with his account statement. – Learn More Here
TNDM, CZZ, CIEN, GLUU, AVGO, WDAY, FNSR, ARRS, GNW are on our watchlist for a possible trade today or within the next few days. TNDM is our featured long trade-idea today with a Bullish Doji Continuation Pattern that broke out over the downtrend line Friday. The weekly chart is also showing a Bullish Engulf Candle and price action support on the 34-EMA. A price challenge of the September high would be about a 30% stock trade and over a 90% option trade. Members log in for more details. Past performance does not guarantee future results. Learn how to trade before you trade.
TNDM- Buy box between $39.25 and $36.45 • Target $52.00 with a few profits taking targets in-between • Stop below $35.30 • Past performance does not guarantee future results. Learn how to trade before you trade.
For 2019 Rick plans on taking the now $23,567.00account to $50,000.00 before December 31, 2019. Remember he already has increased the account $5,000.00 to $23,567.00 or 362% in 2018. Would you like to learn from someone that truly makes money, not just one hit wonders and backs it up with his account statement!
Free YouTube Education • Subscription Plans • Private 2-Hour Coaching
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
As we bid farewell to 2018, reflecting on the last 12 months of trading, it was overall a great year albeit quite challenging to navigate. As we enter 2019, the market is showing its first clues of bottoming but still faces significant uncertainty this will likely continue to challenge traders for the next several weeks to months.
But for those disciplined to price action, I have no doubt 2019 will provide us with great opportunities to profit. Be careful with this mornings gap up and watch for the possibility of a pop and drop. We need to see buyers coming in to support this gap and willing to challenge resistance levels. That may be a lot to ask with volumes likely to decline quickly today as traders set their sights on 2019 celebrations. I wish you all a Happy New Year and a prosperous 2019!
On the Earnings Calendar, we have 18 companies reporting this New Year’s Eve, but none of them are particularly notable.
The Futures are pointing to a big gap up this morning after the President stated he had a good conversation with the Chinese President Xi about trade. As I write this the Dow Futures are suggesting a gap up of more than 200 points. As great as it is to see bullishness in this market I must say it seems highly suspect and would suggest caution on this last day of trading for 2018. Shortly after the Presidents comments, a report suggested that the two sides are still very far apart on key elements of the agreement. Another clue is that Asain markets closed mixed with the Nikkei lower 62 points on the same news. European markets are also not impressed and currently mixed but mostly falt on the day.
After the morning rush, expect the volumes to drop off quickly as traders turn there focus toward celebrating the new New Year. Keep in mind the Federal Government is still shut down, and the new Congress will begin to whip up market emotions later this week. If buyers support the gap after the open keep an eye on price resistance levels and watch for the possibility of a pop and drop. I wish you all a Very Happy New Year!
Trade Wisely,
Doug
Yesterdays Bearish Shooting Star in the VXX is suggesting we’re going to celebrate the New Year in style with another good base hit. Congratulations to the members in the VXX Put!
The Top Gun Trading room is up just under $2,800 in December while risking only $100 to $200 per trade. Our latest trades can be seen below, The Top Gun Day Trading Room operated by Steve Risner and Steve and many in the room have paid for there membership in one single day of trading. Top Gun Day Trading is a Division of Hit and Run Candlesticks Inc. So let’s take a look at what’s going on in the day trading room.
Top Gun Day Trading – Despite the weakest market in over a decade, the room is up over $2,800 in December while risking only $100 to $200 per trade. Our latest trades include:
SPY ETF – After the sellers had their way with the SPY, the buyers came in and pulled the candle out of the mud and closed us above the Bullish Morning Star. That’s what you call follow-through. On the SPY weekly chart price action is getting close to drawing a Bullish Piercing Candle, a good close today could do it. For the (RBB) Rounded Bottom Breakout traders the SPY is set up on the 60-Min chart.
The SPY is starting to run into a little resistance, so let’s be a little careful. We should see a pullback soon to test the rally we have had. Another thing I want to mention is this market is still under a ton of pressure, and the Bears still control the trend. We could easily see price action walk to trend at this point.
Good trading and Happy New Year
TC2000 T2122 Chart – The four weeks New High/Low Ratio is still in the oversold area and Stochastics is deep within the oversold area as well. FYI: A chart oversold is only a condition, not a reason to buy. Oversold can last a long time while you keep trying to pick a bottom and losing money
For 2019 Rick plans on taking the now $23,567.00account to $50,000.00 before December 31, 2019. Remember he already has increased the account $5,000.00 to $23,567.00 or 362% in 2018. Would you like to learn from someone that truly makes money, not just one hit wonders and backs it up with his account statement.
Free YouTube Education • Subscription Plans • Private 2-Hour Coaching
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
Yesterday’s huge reversal triggered a massive short squeeze forcing those caught short forcing them to buy to cover positions. Those that held their short positions through the night hoping for another reversal will certainly experience more pain this morning with Futures pointing to a trip point gap up at the open. If you are holding long positions, a big Congratulations is in order but remember to take profits because this massive volatility is likely not over.
The Dow gained more than 1400 points in just 2-days! A gap up this morning could easily bring in profit-takers as they avoid the weekend risk. Congress has now adjourned leaving the Federal Government shut down for the rest of the year. With many traders likely planning to extend their New Year’s holiday volume could be lacking on Monday and remember the markets will close on Tuesday. There is a lot to consider when planning your risk heading into this weekend.
A light day on the Earnings Calendar with only Eight companies reporting with none that are particularly notable unless you happen to be holding them.
With the Congress now adjourned until next year, it looks as if the Federal Government will remain shut down until sometime next year. We should continue to expect the massive volatility to continue which makes holding positions into he the weekend carry significant risk. US Futures this morning are pointing to a significant gap up follow-through on yesterday’s huge reversal whipsaw that triggered a massive short squeeze. Those that held short positions through the night will be in pain this morning keeping the pressure on the short squeeze, but if you’re holding long positions I would like to remind you that gaps are gifts!
The potential of another reversal whipsaw heading into the weekend is certainly not out of the question so be careful not to allow greed, prevent you from taking profits. Personally, I would like to see a bullish close today but with the extreme volatility and the Dow having gained more than 1400 points in just two days some profit taking to avoid the weekend risk would not be a big surprise. Also, keep in mind that volume on Monday (New Year’s Eve) is likely to drop and price action becomes erratic as traders head out for the holiday. Plan your risk accordingly.
Trade Wisely,
Doug
Over the past several weeks this sure has been a day traders market, The Top Gun Day Trading Room operated by Steve Risner has been killing it. Top Gun Day Trading is a Division of Hit and Run Candlesticks Inc. So let’s take a look at what’s going on in the day trading room.
Day Trading Room – Despite the weakest market in over a decade, the Top Gun Day Trading room is up over $2,500 in December while risking only $100 to $200 per trade. Our latest trades include:
SPY ETF – Yesterday was a nice bullish day in a down trending market. On the weekly chart, we bounced off our 200-SMA right into our Dotted Deuce moving average. This morning the futures are digesting the monster move made yesterday. Our Key low the bulls need to protect is now $233.76. With follow-through over yesterdays candle and the downtrend line, I would expect $251.80.
Good trading and Happy New Year
TC2000 T2122 Chart – The four weeks New High/Low Ratio closed yesterday at 14.29 up from 1.35. 1429 is still in the oversold area and as you know there is no guarantee that oversold means the bulls are in charge. TC20000 is my favorite charting package of all time.
GRPN, OSTK, AAPL, AVGO, DLTR, XRAY are now on our watchlist for a possible trade within the next few days. AAPL is our featured long trade-idea today with a Bullish Morning Star Candle pattern on the daily and a Bullish Piercing1 Candle pattern on the weekly chart. We are bullish above $157.25. Past performance does not guarantee future results. Learn how to trade before you trade.
For 2019 Rick plans on taking the now $23,567.00account to $50,000.00 before December 31, 2019. Remember he already has increased the account $5,000.00 to $23,567.00 or 362% in 2018. Would you like to learn from someone that truly makes money, not just one hit wonders and backs it up with his account statement.
Free YouTube Education • Subscription Plans • Private 2-Hour Coaching
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
Hostage – A person (
Last week we talked about how the weekly Dotted Deuce and the weekly 200-SMA were likely two target areas for
TC2000 T2122 Chart – The four weeks New High/Low Ratio has dropped lower into the oversold area and Stochastics is deep within the oversold area of the chart. On the weekly chart, the SPY has found the Dotted Duece, and the 200-SMA weekly is not to far below. Price and the T-Line are still leading the run down in both the daily and weekly charts. We have now pulled back to the 61.8 fibs measured from early 2017 to the 2018 highs. FYI I am just pointing out a few points I see on the charts, the questions we talk about in the trading room is what do we do with that information.
OSTK, TAHO, ABX, NEM, PVG, KDP, LLY, SCG are on our watchlist for a possible trade today or within the next few days. LLY is our featured short trade-idea today with a Bearish “h” pattern set up failing the 50-SMA. With a Stock Swing Trade of about 10% or more and an Options Trade of 30% or more. Members log in for more details. Past performance does not guarantee future results. Learn how to trade before you trade.
Hit and RunCandlesticks and Right Way Options have opened our doors
For 2019 Rick plans on taking the now $23,567.00account to $50,000.00 before December 31, 2019. Remember he already has increased the account $5,000.00 to $23,567.00 or 362% in 2018. Would you like to learn from someone that truly makes money, not just one hit wonders and backs it up with his account statement.
Free YouTube Education • Subscription Plans • Private 2-Hour Coaching
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
