CRC – Bullish Morning Star and Doji Continuation Pattern

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CRC – Bullish Morning Star and Doji Continuation Pattern

CRC – Bullish Morning Star and Doji Continuation PatternCRC (California Resources Corp.) The CRC Chart has printed a Bullish Morning Star and a Doji Continuation price pattern suggesting the Bulls are pulling together to push price higher. Our goal at Hit and Run Candlesticks is to take advantage of what we know about this price pattern and trade it with our Rounded Bottom Breakout Strategy.

CRC special note: We already own CRC with a profit. Membership has its privilege.

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 8:45 EST AM every morning with the HOG and then Rick at 9:10 EST. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

►We bought yesterday’s featured trade idea (HCLP) and sold half for a 7.08% profit when it came within pennies of our 1st. target. For the past 30-days, our average dollar gain is $818.72 per trade.

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► INOV – You would be up about 18% or $225.00

If you bought 100 shares when we posted to our members on September 11. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance.

 

► Eyes On The Market (SPY)

Another Steller day for the SPY and overall market moving up the T-Line like a well-oiled machine. We are expecting a little positive consolidation to allow time for price and the T-Line to come together. Above $248.05 we are still bullish, between $248.05 and $246.20 CAUTION and below $246.20 a bit bearish.

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

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Earn while you Learn with  – Click Here.

 

Investing and Trading involve significant financial risk and are 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.

 

The record breaking year continues.

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The record breaking year continues.

The record breaking year continuesAlthough the market seems stretched the Bulls continue to charge upward and the record breaking year continues.  Eventually, the momentum of this rally will fade, but as of now, the Bulls are firmly in control.  Rather than chasing new positions I want to focus on profit taking as we head toward the weekend.  Selling into strength as the market becomes stretched is a trait of successful traders.  New or inexperienced traders are feeling the pressure of missing out often make the mistake of chasing market highs.  Take from one that made that painful mistake over and over.  If you’re not already in positions taking advantage of the rally, it would be wise to wait.  There are a lot of great looking charts.  If you can enter them at low-risk entry points okay but keep in mind it will be difficult for them to rally is the overall market does pull back.  Make sure you have a plan.

On the Calendar

Thursdays Economic Calendar kicks off with Consumer Price Index at 8:30 AM Eastern.  The consensus is expecting a 0.3% increase month vs. the 1% rise previously.  The spike in prices is yet another impact  Hurricane Harvey is having in the country.  The tally for Hurricane Irma is unknown at this time.  Also at 8:30 AM is the weekly jobless claims which surprised the market due to the surge of 62,000 new claims.  The consensus is for some 302K claims today, and this number is expected to continue to rise over the next several weeks.  Once again the effects of Harvey and Irma.  There are several other reports today but nothing considered to be market moving.

On the Earning s Calendar, we have 35 companies reporting results today.  One of the bigger stocks to report today is ORCL.  A good report could give the QQQ’s a little boost.

Action Plan

The indexes continue to defy gravity as the momentum of this rally continues to attract buyers.  Once again new records were set in the DIA, SPY and the QQQ’s while the IWM continued to rally testing resistance levels.  As we continue to melt up once again, the VIX is nearing historic lows raising the slight concern of complacency.

The trend is up so I will continue to trade long and continue looking for long positions.  Although the market seems very stretched as of right now, there are no clues in the price action of a direction change.  Common sense, however, would suggest a rest or pullback could come at any time.  Don’t predict it just focus on the price action for the clues and stay with the trend.

[button_2 color=”green” align=”center” href=”https://youtu.be/Mn2wsxQnrdw”]Morning Market Prep Video[/button_2]

Trade Wisley,

Doug

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Trade Update on KO

The KO position is working out great for us.  Currently, we are about 38%.  If you like the profit please feel free the take the nice gain.

In the live session, I suggested Selling the OCT 47 Calls for those that want to hold on to the KO trade.  We collected 0.38 a share which is basically a 10% gain on the original KO purchase.  If we get called away, Sweet!  If we don’t that works nicely for us as well.

Do not make this trade unless you are already own the long position on KO!

 

The Bulls may need a little rest.

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The Bulls may need a little rest.

The Bulls may need a little restThere is no doubt about the strength of the Bulls and their dominance of the current market rally.  However, with such a big move all at once, the Bulls may need a little rest and are perhaps stretched thin.  A sideways move or even a slight pullback would not be out of the question and would technically be healthy for the market.  Allowing the moving averages some time to catch up and provide some price support.  Unfortunately, we still have that unstable dictator out there shooting off his mouth.  Yesterday stronger sanctions were passed, but he has already threatened retaliation and defiance as a result.  The old saying that one rotten apple spoils the entire barrel seems to apply here.  The Bulls are strong, but the North Korean rotten apple could spoil a perfectly good bull run.

On the Calendar

The hump day Economic Calendar begins with a couple of important reports.  First at 8:30 AM Eastern we get a reading of the PMI which has been among the weakest economic numbers.  As a result of Hurricane Harvey, the forecasters see a rebound to 0.3% gain vs. a 0.1% last month.  Next months report will see the effects of Irma.  Then at 10:30 AM we will get a reading on the EIA Petroleum Status Report.  Although they don’t forecast this number, many are expecting a sharp decline in supplies due to Hurricane Harvey.  At 2:00 PM is the Treasury Budget which consensus for August expects our government over spent by 115 billion.  However, this number is unlikely to move the markets.

On the Earnings Calendar, we have 34 companies reporting results today.  I don’t see any potential market movers, but please make sure you’re checking your account.  Suprisees here can be very costly!

Action Plan

New record high closes in DIA, SPY and QQQ’s were printed yesterday as the Bulls continue their show of strength.  Currently, the indexes appear to be slightly overbought in the short term.  At a minimum a rest is likely, but I would not rule out the possibility of a minor pullback.  The momentum of the current rally was very strong, and I would not be at all surprised to more record levels created before the end of the week.  Of course, that will depend on whether or not North Korea lights up another missile in defiance of newly imposed sanctions.

Currently, the Dow futures are pointing to a slightly lower open, but that could easily change.  With the market looking a bit stretched my plan for today will be to focus on current positions.  If the market happens to move lower, I may look to take some profits.

[button_2 color=”green” align=”center” href=”https://youtu.be/2P_Mcg1uPC4″]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

HCLP – Bullish Morning Star Continuation Signal

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HCLP – Bullish Morning Star Continuation Signal

HCLP – Bullish Morning Star Continuation SignalHCLP (Hi-Crush Partners LP) HCLP printed a Bullish Morning Star continuation signal yesterday along with a Bullish Inverted Head and Shoulder with support at $7.70-ish. Based on our current trade plan and 2 swings we are looking at a 15% plus overall profit.

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 8:45 EST AM every morning with the HOG and then Rick at 9:10 EST. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

We have added a couple new trades, and our MNKD is now up 31.95$, and IDGX is up 19.40% how sweet is that. For the past 30-days, we are sitting at a 75% win rate!!

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Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member an

d non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► MTRX – You would be up about 38.28% or $400.00

If you bought 100 shares when we posted to our members on August 28. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance.

 

► Eyes On The Market (SPY)

The market (SPY) has done a fantastic job showing it’s Bullish colors and like all bullishness, there are those times when a little rest is needed. In-fact a good Bullish Profit taking is one of the best things that can happen to a Bullish trend. We will remain bullish over $248.05. Caution between $249.05 and $246.20 and Bearish under $246.20

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here.

 

Investing and Trading involve significant financial risk and are 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.

 

Bulls are large and in charge.

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Bulls are large and in charge.

Bulls are large and in chargeI guess there is nothing quite like 2 of the most damaging storms in history to inspire the Bulls to run.  The theory is these storms will open the flood doors of Federal Spending for the cleanup and rebuilding.  All the rebuilding will also create big boosts in material and durable goods to rebuild the lives of those affected.  If there is one thing, the market loves its massive government spending no matter future consequences.  The Bulls are once again pushing for higher prints this morning with the futures pointing to a gap up of nearly 50 points in the Dow.  Clearly, the Bulls are large and in charge, but I would caution you about chasing.  If you missed this move then just let it happen.  Eventually, the market will rest or pull back providing lower risk entries rather than chasing an already overextended move.

On the Calendar

Another light day on the Economic Calendar with a single report of significance and several bond auctions.  At 10:00 AM we get the JOLTS report which tracks job openings.  Job openings have remained strong @ 6.163 million. However, hires have lagged behind at 5.356 million pointing to a tight labor market.  The consensus is expecting a slight pullback in offerings to 6.010 million in today’s report.

The Earnings Calendar has 27 companies expected to report today.  Overshadoweding earnings today is the unveiling of the highly anticipated Apple iPhone 8 at 10:00 AM Pacific Time.   Analysts expect this phone will finally contain major innovations.  Apple product release events in the past have moved the market so if this is a game changing device it could have a positive effect on price action.  On the other hand, if the company disappoints the opposite is also possible.

Action Plan

What’s the right move after the Dow rallies nearly 300 points in a single day followed by a gap higher the following day?  I won’t assume that I know what’s right for you, but I know for me it means to focus on profit taking rather than adding new risk.  Wild bullishness like this creates a lot of emotions.   The feeling of missing out causes a lot of traders to chase in just before the pullback.  Let’s be very clear here if you were not holding long positions last Friday then you have already missed it this move.  Jumping in today would be a very bad idea.  Wait for the market to rest or pullback and then enter at or near support rather than chasing and buying at price resistance.

Please understand I am not saying that the market can’t continue going higher before it pulls back.  It definitely can, but that is not a good reason to blindly follow like sheep.  A rest or a pullback will occur, and it will provide a better risk/reward trade.   Plan your trades careful and have defensible positions that fit your risk tolerance.

[button_2 color=”green” align=”center” href=”https://youtu.be/8knJ8DgvQaw”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

IPXL – Bullish Continuation Pattern

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IPXL – Bullish Continuation Pattern

IPXL – Bullish Continuation Pattern IPXL (Impax Laboratories Inc.) IPXL Has been trending and now has produced a Bullish Continuation Pattern. Commonly called a J-Hook. IPXL popped off the 34-EMA on big volume and consolidating Bullishly ever since. Yesterdays candle (price action) was a clue that the Bulls are starting to take notice again Good Trading – Hit and Run Candlesticks Learn more about Hit and Run Candlesticks, and today's trade idea and plan plus the 10 or more members trade ideas, starting at 8:45 EST AM every morning with the HOG and then Rick at 9:10 EST. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns. ►Trade Updates – Hit and Run Candlesticks Friday we took on a new long, and by the end of the day we are up 5.88% (Love it) Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision. ► CONN - You would be up about 7.82% or $170.00 If you bought 100 shares when we posted to our members on September 8. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance. ► Eyes On The Market (SPY) WOW! What a day yesterday and a very nice Bullish Cup has formed. The Bulls put the Bears in their place yesterday with a gap and follow through on good volume. The T-Line has turned up and is up over its past 20-days. Continuation patterns will be the money making patterns to trade with IMHO ► What is a Trade Idea Watch-list? A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader's time frame. That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade. Rick’s personal trade ideas for the day MEMBERS ONLY Start your education with wealth and the rewards of a Swing Traders Life – Click Here. Investing and Trading involve significant financial risk and are 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.IPXL (Impax Laboratories Inc.) IPXL Has been trending and now has produced a Bullish Continuation Pattern. Commonly called a J-Hook. IPXL popped off the 34-EMA on big volume and consolidating Bullishly ever since. Yesterdays candle (price action) was a clue that the Bulls are starting to take notice again

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 8:45 EST AM every morning with the HOG and then Rick at 9:10 EST. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

Friday we took on a new long, and by the end of the day we are up 5.88% (Love it)

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

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► CONN – You would be up about 7.82% or $170.00

If you bought 100 shares when we posted to our members on September 8. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance.

 

► Eyes On The Market (SPY)

WOW! What a day yesterday and a very nice Bullish Cup has formed. The Bulls put the Bears in their place yesterday with a gap and follow through on good volume. The T-Line has turned up and is up over its past 20-days. Continuation patterns will be the money making patterns to trade with IMHO

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here.

 

Investing and Trading involve significant financial risk and are 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.