The Bulls continue their march higher.

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The Bulls continue their march higher.

Bulls continue their march higherAfter seeing the terrible news out of Las Vegas, I was half expecting to see the market lower this morning.  Looking at the futures clearly, that is not the case as the Bulls continue their march higher.  Lately, I have heard from a lot of traders trying to predict a market selloff.  While their argument is rational and compelling, they are missing out on a very key element.  Emotion!  Let’s face it the market is emotional and thus does not have to abide by the rules of rationality.  If the market was rational how could you explain the late 90’s bull run?  As retail traders, it’s very important that we simply continue to trade the trend that is before us and avoid the urge to predict.  Now that does not mean we throw caution to the wind and go all in!  We must always be prepared and focused on price action.  When the trend is over price will tell us, and we need to have a plan ready to go to avoid emotional decision-making.

On the Calendar

The Economic Calendar begins the 4th quarter with the PMI Mfg. Index at 9:45 AM Eastern time.  Forecasters see no change from September’s 53.0 print.  At 10:00 AM we get the most important number of the day in the ISM Mfg. Index report.  The consensus for September’s headline is 58.0 vs. August’s 58.8.  Also at 10:00 AM today is Construction Spending where the consensus call for August is a 0.3 percent rise.  We have a Fed Speaker at 2:00 PM and few bond related items to round out the day.

On the Earnings Calendar, we have under 20 companies reporting, and I would not expect any of them to be market moving.  With the 4th quarter earnings season just around the corner, I would be wise to make them part of your planning going forward.

Action Plan

The futures are pointing higher with the DIA, SPY, and IWM likely to make new record high prints at the open.  The QQQ is lagging behind and still under price resistance but also gapping higher at the open.  Always keep in mind that gaps at the market open can produce whipsaw price action so avoid chasing in at the open.

Because I don’t want to chase, I will be looking for new long trades setting up at or near price support levels.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/m07w58mui0o”]Morning Market Prep Video[/button_2]

PIRS – Bullish Inside Day Harami

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PIRS – Bullish Inside Day Harami

PIRS – Bullish Inside Day HaramiPIRS (Pieris Pharmaceuticals) The PIRS Chart has presented us with a Bullish Inside Day Harami signal. Price has consolidated for a bit now, and the 34-EMA has crossed back over the 50-SMA. The T-Line is rising with price getting ready to attack the July highs.

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

We bought GRPN at $4.41, and it closed Friday at 5.20, with a 17.65% profit we will be protecting profits.

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.

 

► Ticker (SPPI) – You could have been up about 54% or about $492.00

If you bought 100 shares when we posted to our members on August 10.

Monthly • Quarterly • Semi-Annual • Annual • Specials and Bonuses available from time to time (Look at your emails when you get them)

We control our risk and manage our gains • We teach the Same • Cancel Anytime

 

► Eyes On The Market (SPY)

As of Friday’s close, the Buyers have once again proved their ownership of the market. The Big three moving averages steady climbed higher, and the T-Line continues to make new highs. We do not predict we follow PRICE ACTION and the chart looking for low-risk entries for profitable swings.

► 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

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.

 

Look out Chicago We Are Here

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Look out Chicago we are Here

Look out Chicago We Are Here

We are at the Chicago Board of Trade today (CBOE) hope to see you here.

We purchased yesterday’s featured trade idea. As of the close yesterday, we are still holding our positions. Longs no shorts. The SPY is still in consolidation mode with another lower high and a close below the T-Line. We are waiting for bullish price action that closes over the T-Line. Yesterdays shadow fell below the T-Line Band Low but closed back above. A bullish clue, we still need price to follow through. All of, yesterday’s trade idea still set up perfectly.

Monthly • Quarterly • Semi-Annual • Annual • Specials and Bonuses available from time to time (Look at your emails when you get them)

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.

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.

 

Monthly • Quarterly • Semi-Annual • Annual • Specials and Bonuses available from time to time (Look at your emails when you get them)

We control our risk and manage our gains • We teach the Same • Cancel Anytime

 

► 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

 

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.

 

DNR – RBB Bullish Morning Star

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DNR – RBB Bullish Morning Star

DNR – RBB Bullish Morning StarDNR (Denbury Resources Ltd) The DNR Chart has presented us with a Rounded Bottom Breakout Strategy and a Bullish Morning Star set up. After breaking down below the 200-SMA back in February, DNR has had the bear on its back. We have now been triggered that an RBB setup has accrued and Bullish Morning Star continuation pattern has been offered up. We will build a trading plan and follow the RBB rules.

Monthly • Quarterly • Semi-Annual • Annual • Specials and Bonuses available from time to time (Look at your emails when you get them)

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

We are preparing for our trip to the Chicago Board of Trade (CBOE). We hope to see you there; it will be a blast.

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.

 

► Ticker (RIG)

You could have been up about 14% or about $124.00 If you bought 100 shares when we posted to our members on September 13. Monthly • Quarterly • Semi-Annual • Annual • Specials and Bonuses available from time to time (Look at your emails when you get them)

We control our risk and manage our gains • We teach the Same • Cancel Anytime

 

► Eyes On The Market (SPY)

The SPY is still in consolidation mode with another lower high and a close below the T-Line. We are waiting for bullish price action that closes over the T-Line. Yesterdays shadow fell below the T-Line Band Low but closed back above. A bullish clue, we still need price to follow through.

► 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

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.