Unable to find profit takers.

October 5, 2017 by Doug Campbell

Unable to find profit takers.

Although the market appears to be quite extended, its unable to find profit takers just yet. The VIX continues to dance near historic lows but as of yet unable to make a run for a new low print. Perhaps the market is waiting on all the Fed speak today or more likely focused on the Employment Situation number that comes out Friday morning. None the less I will continue to be very focused on price action and prepared to take profits ahead of the weekend if weakness shows itself. With an extended market and the weekend near, I will need to uncover a nearly perfect trade setup for me to buy additional risk.

On the Calendar

The Economic Calendar events of interest begin at 8:30 AM Eastern. International Trade forecasters are calling for a narrowing of the trade gap this month due to the hurricane effect. August is expected to come in at $42.5 vs. July’s 43.7 reading. A narrowing trade gap should be of benefit to the 3^rd quarter GDP. Also at 8:30 AM is the weekly joblesss claims and is expected to come in with a reading of 265K vs. 272k last week. There are 4 Fed Speakers on the calendar today with three of them speaking in rapid succession beginning at 9:15 AM. At 10:00 is Factory Orders which is expected to rise 1% in August vs. the 3.3% decline in July.

On the Earnings Calendar, there are only 14 companies set to report. Of note are reports STZ before the open and COST after the close today.

Action Plan

The incredible strength of the Bulls kept profit taking in check even though it’s quite extended. The promise of a tax plan continues to inspire investment no matter the price or valuation. Also, keep in mind that earnings season will begin soon and there seems to be tremendous optimism of strong reports.

With the market continuing to show enough strength to hold up I maintained all the current positions. As a result, I again will focus on price action and prepare to take some profits before the weekend if necessary. As we wait for the big employment number Friday, it would not be a surprise to see choppy light volume action again today.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/bxSqb1hRci0″]Morning Market Prep Video[/button_2]

EXPR – Flag, Hammer, Morning Star “Oh My”

October 5, 2017 by Rick Saddler

EXPR – Flag, Hammer, Morning Star “Oh My”

EXPR (Express Inc) The EXPR Chart has presented us with a Flag, Hammer, Bullish Morning Star after about a month of consolidation. We are also in an RBB pattern/strategy. The gap back in August 23^rd changed the course, and now we are starting a trend toward the 200-SMA.

►Starting at 9:10 EST every morning we cover:

How to trade each HRC trade idea with entry, stop and profit zones. Answer questions to help you succeed in trading.

Monthly • Quarterly • Semi-Annual • Annual • Change your future and enjoy the life of working from home with swing trading. The next step is up to you.

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 for Hit and Run Candlesticks

Yesterday we closed ½ of our “I” trade for a sweet 16.3% and ½ our “MBOT” trade for a 13.11% profit. We are currently holding 11 positions, all but one green.

Monthly • Quarterly • Semi-Annual • Annual • We control our risk and manage our gains • We teach the Same • Cancel Anytime

► Ticker (AGIO) – You could have profited about 5.24% or about $350.00, If 100 shares when we posted to our members on October 2.

► Eyes On The Market (SPY)

Another new day higher for the induces! The SPY closed higher bringing the T-Line even higher. Yesterday was the 25^th day that price had ridden the V-Stop wave, that’s the kind of wave that put $$$$ in traders pockets. We are still looking at the T2122 chart, it is still bullish but a bit high simply suggesting the bulls might need a little rest. Trading tools like this that help us work the market to our advantage.

Rick’s trade ideas for the day – MEMBERS ONLY

Monthly • Quarterly • Semi-Annual • Annual

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.

FMSA – Bullish Consolidation and Finding Support

October 4, 2017 by Rick Saddler

FMSA – Bullish Consolidation and Finding Support

FMSA (Fairmount Santrol Holdings) The FMSA Chart has presented us with a trending Rounded Bottom Breakout chart, T-Line Run, five days of consolidation, a Bullish Morning Star on big volume, a Pop Out of The Box setup and a ♪♫♪Partridge In A Pear Tree.♪♫♪

►Starting at 9:10 EST every morning we cover:

How to trade each HRC trade idea with entry, stop and profit zones. Answer questions to help you succeed in trading.

Monthly • Quarterly • Semi-Annual • Annual • Change your future and enjoy the life of working from home with swing trading. The next step is up to you.

Good Trading – Hit and Run Candlesticks

►Trade Updates for Hit and Run Candlesticks

We bought [ZYNE] and [I] yesterday based on the chart patterns and the price action. Learn more on why we bought and what we expect to profit from the chart.

Monthly • Quarterly • Semi-Annual • Annual • We control our risk and manage our gains • We teach the Same • Cancel Anytime

► Ticker (ZYNE) – You could have profited about 12.54% or about $109.00,

If you had bought 100 shares when we posted to our members on October 3.

► Eyes On The Market (SPY)

The SPY closed on another new high yesterday, that’s five days up in a row. If you are a T-Line follower, we have a bullish T-Line Run. We still have a bullish outlook with minor PBO’s along the way. The T2122 chart suggests we may see a little profit taking in the market, of course, the final decision is up to the price.

► 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 trade ideas for the day – MEMBERS ONLY

Monthly • Quarterly • Semi-Annual • Annual

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.

Bullish But Stretched

October 4, 2017 by Doug Campbell

Bullish But Stretched

There is no doubt that the Bulls are firmly in control as this rally continues to set new records daily. Both the DIA and the SPY showing impressive strength while the rally in the IWM has been nothing short of incredible. I think even the most enthusiastic traders would have to admit at this point the market is Bullish but Stretched. Could we continue going higher? Yes, we absolutely could, but the likelihood of a profit-taking pullback is growing. It’s my opinion that trying to enter this run now is like a dog chasing a loaded truck and at high risk of being run over.

On the Calendar

Before the market open, we have the ADP Employment report on the Economic Calendar at 8:15 AM Eastern. The ADP has been missing the actual number for months, and I think has begun to lose credibility with traders. The August ADP was 237K while the actual came in at 165K. Obviously a huge swing and miss. The September ADP is looking for 140K.

At 9:45 AM we get a reading form PMI Services, but the more important number is the ISM Non-MFG Index at 10:00. The ISM forecasters are calling for the September number to come in at 55.5 vs. the August 55.3. At 10:30 AM is the very important EIA Petroleum Status Report. The current rally in oil stocks would suggest the market is expecting further declines in supplies. We have a Fed speaker at 3:00 PM and then the Fed Chair speaks at 3:15 today.

Action Plan

Currently, the futures are suggesting a flat to slightly lower open this morning which should not be a big surprise after such a strong run. I believe the market could begin to show some stress and as a result, profit-taking could begin at any moment. Please understand I am in no way shape or form suggesting bearishness because there is no evidence of that in the charts. The VIX moved slightly higher yesterday even as the overall market us rallying. That’s odd but could be a small clue to the stress I mentioned above.

My focus as always will be on the price action, and I will be much more inclined to take profits today rather than entering new positions. I love selling into strength! Like the song says, know when to hold em, know when to fold em, know when to walk away and know when to run. I think is time to consider putting some money in the bank and walk away from the table for just a little while.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/-TZH8fZXuOQ”]Morning Market Prep Video[/button_2]

VIX is nearing historic lows.

October 3, 2017 by Doug Campbell

VIX is nearing historic lows.

As the DIA, SPY, and IWM reached out for new record highs with incredible energy, the VIX is nearing historic lows. Even more amazing is that this occurred after the deadliest mass shooting in history. There seems to be a voracious appetite for stocks without regard to valuation. The QQQ’s is the only index lagging behind that as of now continues to be blocked by price resistance. With the VIX so low it smacks of complacency, but as the money continues to pour into the market, all we can do is stay with the trend. Stay focused on price and consider taking some profits into strength. Don’t allow greed to prevent you from banking gains! I also suggest that everyone has a ready-made plan to avoid poor emotional decision-making if/when the Bulls begin to lose energy.

On the Calendar

Motor Vehicle Sales report is before the market open today according to the Economic Calendar. It is the only potential market-moving report of the day. Vehicle Sales are expected to see a significant bump us as a result of Hurricanes Harvey and Irma. At 8:30 AM Eastern there’s a regulatory reform speech from a Fed Governor but after that a very quiet calendar.

The Earnings Calendar shows just over 20 companies reporting today.

Action Plan

With the market displaying such amazing strength most stocks are well within their move higher. Before buying anything make double sure you’re not chasing trades that are at or near resistance levels. They will be the first to be punished if the market loses steam and some profit taking begins. Make sure only buy stocks that are at or near price support the acceptable risk to the stop. It’s so easy to get caught up in a market like this and chase due to the feeling of missing out. Well thought out plans are the best defense for this emotion. Do it, and you protect your capital. Do it not, and suffer the consequences of emotional trading. Did that just sound like Yoda? LOL

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/8IuRo9Q8x8Q”]Morning Market Prep Video[/button_2]

ZYNE – Pullback To The 50-SMA

October 3, 2017 by Rick Saddler

ZYNE – Pullback To The 50-SMA

ZYNE (Zynerba Pharmaceuticals) The ZYNE Chart has presented us with a Morning Star reversal signal followed by a gap. Price is currently in your Rounded Bottom Breakout Zone with a pullback and Doji on the 50-SMA.

►Starting at 9:10 EST every morning we cover:

How to trade each HRC trade idea with entry, stop and profit zones. Answer questions to help you succeed in trading.

Monthly • Quarterly • Semi-Annual • Annual • Change your future and enjoy the life of working from home with swing trading. The next step is up to you.

Good Trading – Hit and Run Candlesticks

►Trade Updates for Hit and Run Candlesticks

We bought SEAS yesterday based on the chart patterns and the price action. Learn more on why we bought and what we expect to profit from the chart.

► Ticker (PBYI) – You could have profited about 15.97% or about $1650.00

If you bought 100 shares when we posted to our members on September 25.

Monthly • Quarterly • Semi-Annual • Annual • We control our risk and manage our gains • We teach the Same • Cancel Anytime

► Eyes On The Market (SPY)

Another stellar day for the bulls breaking record highs. Not much I can say about the charts other than there’s a bullish party going on! Let’s remember sometimes the party can get carried away at times and there needs to be a grounding. As the responsible one at parties, I never let anyone drink and drive. This party is different, don’t keep partying without taking some profits. One of the most valuable things I have learned is to take profits from time to time. An example might be, when you reach double-digit gains close ½ the position and raise the stop. It’s a win-win.

► What is a Trade Idea Watch-list?

Rick’s personal trade ideas for the day MEMBERS ONLY

Monthly • Quarterly • Semi-Annual • Annual

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.