Knucklehead, Plus Friday, A Reason To Protect Your Profits

September 15, 2017 by Rick Saddler

Knucklehead, Plus Friday, A Reason To Protect Your Profits

(It’s Friday) Kim Jong-un (AKA Knucklehead) plus it’s Friday and the London train explosion and the market is a bit overbought is a good reason to protect your profits. Volatility is one thing drama is another.

Look their times to be trading, and there are times to enjoy our precious life. A seasoned, successful trader knows that today is a day to protect what you own with stops or move to the sidelines. I will remain bullish as long as price closes over $248.05 and Bearish under $246.20

A personal trade plan is essential to trading wealth and Fridays are a good day to evaluate your trade plan. Do you have a 12-month goal? Do you know how much per trade, per week so you need to meet the 12-month goal? Do you know what trade set ups are best for you? We have found from our coaching that those that live by a trade plan profit more money and have a much higher success rate of increasing their wealth.

Friday is the day we count our money and reflect on our weeks trading. How did we do? How can we improve? Take time today to pause on trading and consider education. Reevaluate your trading goals, are your goals on track?

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 9:10 EST AM every morning. 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 will be closing a few winning trades today and collecting a nice bounty.

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.

►Eyes on The Market

The Bulls have been good to us the last few weeks, but the world events are causing the market to slip a little today. The T-Line will get tested today and likely our $248.05 line. A gap down today with follow through will create a Bearish Island Reversal signal. Let’s not under estimate this candle pattern when reading the charts in the near future.

►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.

The market faces a weekend of uncertainty.

September 15, 2017 by Doug Campbell

The market faces a weekend of uncertainty.

A mad man who believes he is a god with the power of nuclear weapons at his disposal and the temperament of a misguided teenager. What could go wrong with that? Obviously, the market faces a weekend of uncertainty as the UN gathers for an emergency meeting to discuss the escalation of threat. The futures reacted lower after the launch of the missile but had recovered overnight. I wonder if they will be able to hold the market up all day? I have to assume many will be looking to reduce their exposure ahead of the weekend. The volatility of this market is very difficult to trade. Please have a plan to protect your capital.

On the Calendar

A busy Friday Economic Calendar begins with the very important Retail Sales report at 8:30 AM Eastern. The expectation is for an increase of only 0.1 vs. 0.6 due to Hurricane Harvey impacts. Also at 8:30 AM we get the latest reading on the Empire State Mfg Survey which is expected to decline to 19.0 vs. 25.2 last month. Industrial Production at 9:15 AM is another very important number which is expected to lift by 0.1% vs. a decline last month. Then at 10:00 AM we get Business Inventories and Consumer Sentiment. Forecasters see an increase in Inventories of 0.2% and a slight decline in Sentiment to 96.0 vs. 96.8 last reading.

There are only nine companies reporting earning on the Calendar today. Also worth noting is that both the DIA and SPY pay quarterly dividends today which can have a slight impact on their prices.

Action Plan

In the act of defiance, North Korea fired another missile over the head of Japan. This one went considerably higher and farther than previous launches. Yesterday test proved they now can strike Guam once again raising the stakes in this very dangerous game. South Korea responded with their own missile launch and running military drills near the border also escalating tensions. The futures began to quickly drop but have bounced back to a flat reading this morning.

Now my question is will the market hold up as we head into a weekend filled with uncertainty? As for me, I will be laser focused on price action and prepared to take action on any hints of failure. Taking on new risk ahead of this weekend is not impossible but very unlikely due to the current circumstances. I will not hesitate to capture gains if I see clues of the selloff and I may even look to take some gains simply to reduce my risk ahead of the weekend. We are dealing with a very unstable North Korean leader which makes him very dangerous and unpredictable. Of course, that does not mix well with markets.

[button_2 color=”green” align=”center” href=”https://youtu.be/2OogdLIhmF4″]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

Trade Alert

September 14, 2017 by Doug Campbell

SSTS Trade Alert

A new SSTS trade alert for your evaluation and consideration.

Company Profile

The investment seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in the Energy Select Sector Index. In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: oil, gas and consumable fuels; and energy equipment and services. The fund is non-diversified.

The Setup

XLE has been in a nasty down trend for most of the year, but it has recently found support and looking higher. I’m looking at weekly chart because I want to hold XLE for a longer term trade. The Hurricane’s Harvey and Irma have had a significant effect on oil supplies and likely will for some time to come. There is also an element of seasonality to this trade idea. As we move toward winter fuel prices, normally rise due to the increased demand for heating. If you take this trade keep in mind, we are expecting to hold the position through the end of the year as long as the technicals continue to support the price action.

It is the member’s responsibility to evaluate each position for your individual trade objectives, risk tolerance, and position sizing.

CRC – Bullish Morning Star and Doji Continuation Pattern

September 14, 2017 by Rick Saddler

CRC – Bullish Morning Star and Doji Continuation Pattern

CRC (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 1^st. target. For the past 30-days, our average dollar gain is $818.72 per trade.

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?

Rick’s personal 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.

The record breaking year continues.

September 14, 2017 by Doug Campbell

The record breaking year continues.

Although 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

September 13, 2017 by Doug Campbell

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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.

September 13, 2017 by Doug Campbell

The Bulls may need a little rest.

There 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

September 13, 2017 by Rick Saddler

HCLP – Bullish Morning Star Continuation Signal

HCLP (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

►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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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?

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.

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.