Thank You For Your Post

November 17, 2017 by Rick Saddler

Thank You For Your Post

Thank you for your post you made in the chat room. Thank you for sharing and thank you for your membership! Below you can find a few trade post the HRC members made in the chat room yesterday morning. Great job to everyone on your chart finding, marking them up and sharing. (very helpful to the group).

(09:33 am) Doug Campbell: 194% this morning on a WMT options trade

(09:34 am) Bill M.: Took profits on WMT call 78%

(09:53 am) Doug Campbell: Git – R -Done CREE

(10:04 am) Lars H: 2nd day after big stick

(10:04 am) Nancy O: been in STX for a while – paying off now

(10:06 am) Rick Saddler: Long BW from 4.20 looking great today

(10:12 am) Nigel L: closed PSTG +6.5%

(10:45 am) Bob C: Sold STX 38%

Yesterday was a great day to be a Swing Trader and in the HRC trading Room. Well, it’s Friday, our day to take a step back and reflect on what we learned this week about ourselves and trading.

►Members Big Winners This Past Week

RH • BWLD • SPPI • ZYNE • APPS • SQ • WUBA • PSEC •

Good Trading – Hit and Run Candlesticks

► Trade Idea Update (SQ)

You could have profited more than 62% or about $1600.00, with 100 shares when we posted to our members on August 31.

If you are interested in learning how to end the week with a profit that could change your life simply start a TRIAL Membership and learn what we have to share. – 30-Day Trial

► Eyes On The Market

WOW! What a great surge in the market yesterday, about 2 points and change in the SPY. The Bulls ripped through our upper downtrend line closing at $258.62 and closed above the horizontal resistance line $258.45. The key now is for the Bulls to create follow through after a little rest

Rick’s trade ideas for the day – MEMBERS ONLY

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Investing and Trading involves 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.

Defend Price Support

November 16, 2017 by Doug Campbell

Defend Price Support

In yesterdays morning video I mentioned that it was going to very important for the Bulls to defend price support. After a nail-biting dip below support to strip out tight stop-loss orders; the Bulls began to stand their ground and push back. As always the important thing now is that they follow-through with a push higher and close the day above yesterdays high. A failure to do will embolden the Bears and keep the current downtrend intact. With a strong enough effort by the Bulls, a short squeeze could trigger if there are enough early short-hands betting against the market.

On the Calendar

Thursday’s Economic Calendar begins with three reports at 8:30 AM Eastern time. The Weekly Jobless Claims consensus is for a reading 236K vs. the 239k last week. Puerto Rico, however, remains a bit of wildcard on the jobless front. The Philly Fed Mfg Index is expected to report 25.0 for November vs. the 27.9 October print. The consensus for October Import prices is 0.4% with export prices expected at 0.1%. At 9:15 AM forecasters are calling for 0.5% gain in Industrial Production for October with manufacturing production expected to increase by 0.3%. Overall capacity utilization is seen rising to 76.3%. The Housing Market Index at 10:00 AM is forecast to see November at 67 vs. the October 68 reading.

We have three Fed Speakers on the calendar today speaking at 9:15 AM, 1:10 PM, and 3:45 PM. On the Earnings Calendar, we have just over 70 companies expected to report today. Before the bell, we will hear from HP, SPLS & WMT and after the bell ROST, POST & GPS are just a few notables fessing up.

Action Plan

Yesterday saw the Bulls do a pretty good job of defending support levels on the DIA, SPY, and QQQs. Unfortunately, the Bulls lacked the strength and motivation to fill the morning gap. As of right now, the Dow Futures are suggesting a gap up of about 40 points but this earnings reports and a heavily laden Economic Calendar that could easily change.

As for me, I plan to continue exercising caution on new positions until I see the current short-term downtrend broken to the upside. Of course, I will closely monitor current positions and prepared to take some profits as we move toward the weekend. Remember volatility has increased so keep in mind fast intra-day swings are possible. I’m guessing this week has produced a significant number of short sellers. If the Bulls have the strength, this would be a very good place to trigger a short squeeze. On the other hand, if the Bears maintain control, a failure here could create a rush for the doors. I guess what I’m saying is be prepared for anything.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/SkfQSgwiVJc”]Morning Market Prep Video[/button_2]

WIN – Became an RBB a Few Days Ago

November 16, 2017 by Rick Saddler

WIN – Became an RBB a Few Days Ago

WIN – Became an (RBB) Rounded Bottom Breakout strategy a few days ago and had moved sideways since. The past three candles have closed inside the November 10th candle creating a PBO inside day trade (Video) for the watchlist. With an entry near support, WIN has the potential of a 40% + trade. Trading any chart requires a plan and patients, not all plans work and they certainly don’t work exactly how you think or want them to work.

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Good Trading – Hit and Run Candlesticks

► Members’ Trade Idea Update (PNK) T-Line Run (Video)

With the PNK trade Idea, the profits are now about 15.5% or about $380.00, with 100 shares.

If you are interested in learning how to end the week with a profit that could change your life simply start a membership and learn what we have to share. – Yes I want the winning trades

► Eyes On The Market

We closed yesterday above our Bullish support line yet another day, although the sellers have been growing in numbers they have not yet grown to outnumber the buyers. Yesterday’s low, a gap down Doji found comfort at the 34-EMA and today’s early morning futures are looking a bit Bullish. We still need a breakout of the downtrend line and a breakout of $258.35; otherwise, the sellers are still trying to mount an attack.

Rick’s trade ideas for the day – MEMBERS ONLY

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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.

Trading Inside Days

November 16, 2017 by Rick Saddler

Trading Inside Days

November 14 • 2017

In this webinar, Rick Shares one of his most powerful strategies, “Trading Inside Days.” Trading inside days when a chart is properly set up can be very rewarding. With 30 years in the trading business, it is a must you learn the trading technique for success.

[video_player type=”embed” width=”560″ height=”315″ align=”center” margin_top=”0″ margin_bottom=”20″][/video_player]

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Party Crashers

November 15, 2017 by Doug Campbell

Party Crashers

Unfortunately, the Bears have decided to be party crashers today with a mean overnight reversal. I have over the last several days suggested raising caution levels and slowing market activity. As there were temptations everywhere in the charts, it was very difficult to maintain discipline. I stuck to my plan, and this morning I’m being rewarded for doing so because I have protected my capital. The VIX will likely see a sharp rise this morning opening the door for some very fast price action. I suggest new or inexperienced traders stand aside as the price action will likely become very challenging. Remember CASH is a position and in times like this can be the very best position!

On the Calendar

We have a busy Economic Calendar today, At 8:30 AM Eastern there are two very important potentially market-moving reports, Consumer Price Index and Retail Sales. Forecasters see the overall CPI rising 0.1%. Year-on-year is seen at 2.0% with the core number at 1.7%. Retail Sales is looking for October to rise by 0.1% as well with core readings as high as 0.4% indicating a fundamental strength in consumer spending. Also at 8:30 the less important report from Empire State Mfg Survey. Consensus expects a 26.0 reading for November vs. the October 30.2 which was a historic high for the Survey.

Business Inventories expected to rise 0.1% at 10:00 AM and at 10:30 the EIA Petroleum Status is expected to show a decline in overall demand. Keep in mind the oil number can be a big market mover. At 4:00 PM is the Treasury International Captial report as well as Fed speaker, but both are unlikely to move the overall market. There are over 70 companies reporting earnings today on the Earnings Calendar so stay on your toes and continue checking dates. TGT, TJX, and DKS will report before the bell placing a high focus on retail.

Action Plan

Another grinding day in the market yesterday where the Bulls pushed back after the morning gap down. The rally back up looks to have been a Bull trap considering the current futures readings. The clues in price action have been subtle however they have been there, and I have continued to suggest raising caution levels. Currently, the Dow Futures are suggesting a gap down of more than 100 points. Support levels in the DIA and SPY will require a strong Bull defense or could easily fail. If it support levels happen to break, prepare for the possibility of a quick and nasty selloff as stop-loss orders begin to trip in rapid succession. Expect a substantial increase in volatility at the open making for fast intra-day reversals and mean whipsaw price action possible.

The Bears appear to have gained at least a short-term upper hand, but I don’t expect the Bulls to give up without a fight. Don’t panic, focus on your trade plan. Consider taking profits on winning trades and allow stop-loss orders to protect your capital. Avoid the urge to chase the gap and never involve yourself in revenge trading. If your emotions seem out of control, then set your stops and walk away from your computer until your head for good business decisions returns.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/sZRE1o0yHaE”]Morning Market Prep Vidoe[/button_2]

VG – Consolidated For The Past 5 Days

November 15, 2017 by Rick Saddler

VG – Consolidated For The Past 5 Days

VG – After breaking out price has consolidated for the past five days. Yesterday’s candle was a Bullish Engulf, both the 2 and 3-day charts have formed continuation patterns. The T-Line has now caught back up with the gap and price has closed over the upper T-Line Band for the past six days. The 34-EMA has turned up after tangling with the 50-SMA.

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Good Trading – Hit and Run Candlesticks

► Members’ Trade Idea Update (ZYNE)

With the ZYNE trade Idea, the profits are now about 54% or about $475, with 100 shares.

If you are interested in learning how to end the week with a profit that could change your life simply start a membership and learn what we have to share. – Click Here

► Eyes On The Market

The Bulls tried hard yesterday but could not close over our $258.45 line; this shows strength with the Bears at that level. The morning futures are suggesting the $256.00 line likely to be challenged; the 50-SMA has a high probability of being tagged. Weakness today could put price under the Volatility line and start a T-Line run to the downside. Remember the two most important lines we talked about yesterday in the trading room; they will give us the clues we need.

Rick’s trade ideas for the day – Requires Membership

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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.