Personal Trade Evaluation

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Personal Trade Evaluation

(It’s Friday) Fridays are a good day for personal trade evaluation, pick something about trading you or don’t do and evaluate how you can do it better or may you need to add it to you trading routine. Rather than read someone else’s eBook on the “Ten Things Not To Do In Trading,” write your own eBook based on you and your trading.

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?

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

Below you will find the Hit and Run Candlesticks trading stats for the past 30 days. Yesterday we sold ½ of the RIG we bought at the planned target. This has been a rough week for trading but managed to get through the door still making money. What a difference a week can make without 2-4 Double-Digit trades and the market a bit soft.

 

Personal Trade Evaluation

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

Not much change from yesterday DIA’s still lead the way, the SPY is asleep, and the IWM and QQQ’s are having a party in the bad part of town. We own 2 Inverse ETF’s and next week we may start to look at a few short positions if the market gives us a reason.

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.

 

Bull run continues to produce new records.

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Bull run continues to produce new records.

Bull run continuesAs this record setting Bull run continues in the DIA, their tenaciousness has proved very impressive.  Setting the sixth new record highs in as many days on the DIA is no small feat.  As impressed as I am with the 30 stocks or the Dow holding up the entire market it also raises a concern.  Unless the other indexes step up and participate soon, I’m concerned the pressure on the DIA could suddenly break.  So come on Bulls get to work in the SPY, QQQ’s and IWM.

On the Calendar

On the Economic Calendar today we start with the weekly Jobless Claims at 8:30 AM Eastern.  Claims have been running steady at historic lows, and forecasters see more of the same expecting claims of 244K this week.  At 10:00 AM we have Factory Orders, and ISM Non-Mfg Index reports.  After back-to-back in May and April consensus expects to see a 2.7% increase in the June numbers on the back of aircraft orders.  Nondurable goods are expected to continue flat with weak pricing.  ISM is expected to remain strong at 56.9 with both new orders and backlogs staying at consistently elevated levels.

The Earnings Calendar is full to the brim with more than 535 companies expected to report today.  With the Employment Situation number coming on Friday morning we would normally see the market quiet and choppy as it waits.  However, with such a huge schedule of earnings reports is reasonable to expect more than normal market volatility.  Make sure you are aware of the reporting dates of stocks that could affect your portfolio.

Action Plan

After the morning gap the Bears went to work trying to take over, but by the end of the day, the Bulls proved to be too strong closing the DIA at a new record high.  Both the SPY and the QQQ’s made significant recoveries from the intraday lows while the small cap index, IWM, continued under selling pressure.

The overall trends clearly remain bullish.  As a result, I will continue to look for long trades in stocks trending in the direction of the overall market.  With so many earnings reports I will be watchful for an extra dose of volatility today.  I will also remain focused on price action.  With the weekend coming and after such a strong DIA rally the possibility of very swift whipsaws or reversals exist.  Please don’t misunderstand.  I am not bearish, suggesting bearishness or even attempting to predict that a selloff is about to begin.  I am merely suggesting it’s wise to consider the possibility and watch price action for clues.  Preparation is always better than making emotional decisions in the heat of the moment!

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

Trade Wisely,

Doug

$IPI Bullish Flag Breakout

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$IPI Bullish Flag Breakout

$IPI Bullish Flag Breakout(Intrepid Potash Inc) $IPI The Bullish Flag Breakout yesterday came after a Bullish T-Line Run. Yesterday’s breakout also closed above The T-Line High Band, and the faster moving was below the Band indication a PBO (Pull Back Opportunity)

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

16 position remained open and closed 17 in the past 30 days. 28% cash is now on the side lines. Trading the past week has been tuff, don’t let anyone tell you different. Our average win rate has dropped below 60%, and the average gain has dropped. Knowing how to evaluate your trading record and match it with marker performance you have a reached a new level in trading.

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.

 

[52.14%] IPI was first presented to HRC members on May 16

IPI, made another break for higher numbers yesterday closing above our first target, the second and third will soon come.

Hit and Run Candlesticks members have learned the importance of their trading tools, Price with Candlesticks and manage their trades using The T-line, Trend, Trend Lines, Support, and Resistance.

 

Eyes On The Market (SPY)

DOW hit $2200 while SPY, QQQ’ and IWM all stayed behind and trapped between Support and Resistance. [IYT] The transport ETF has been trending down and now tagging the 200-SMA, still no bullish sign. SMH looks like is weak and having trouble staying bullish.

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.

 

Earnings continue propelling prices higher.

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Earnings continue propelling prices higher.

Earnings continue propelling prices higher.So far 3rd quarter earnings reports have impressed the Bulls and punished Bears that were betting against the rally.  The very impressive results from AAPL earnings continue propelling prices higher in the pre-market with yet another gap up open.  Stay with the trend but always keep in mind at some point there will be profit taking.  Make sure not to get caught up in the hype, drama, and greed.  Have a plan to capture gains if and when the Bears show their teeth.

On the Calendar

The Economic Calendar gets going with the ADP Employment Report at 8:15 AM Eastern.  ADP seems to have lost its mojo over the last several months missing the actual employment numbers significantly.  If this continues and they don’t adjust their metric soon, I suspect it will become a largely ignored report by the market.  Currently, the consensus for the Friday number stands at 173K.  At 10:00 we get the EIA Petroleum Status Report which has been trending lower and helping to support the price of oil.  Let’s hope that trend continues today.  After that, we have a two Fed speakers at 11:00 AM and 3:30 PM.

Another very big day on the Earnings Calendar with more than 400 companies reporting.  So far earnings have provided the fuel for this impressive market rally, and that looks to continue today after the impressive results from AAPL.  Please make sure to check reporting dates of companies that could affect you and your portfolio!

Action Plan

Another day and another record for the DIA gapping up the 2nd day in a row and holding the gap through the close of the day.  Very impressive display of bullishness indeed!  The QQQ, SPY, and IWM closed the day with muted results, but all in all held up very well considering the overall duration of this current rally.  The futures are pointing to another gap up this morning on the back of the AAPL earnings report.  The tech rich QQQ’s should see a nice pop above resistance today.

With the market gapping up for the 3rd day in a row I will once again focus closely on the price action for the first 20 to 30 minutes looking for signs that real buyers are supporting price.  I will continue to trade with the trend looking for long positions.  Because the rally is very extended, I feel the need to focus more on protecting profits and locking in current gains.  I am not predicting a profit taking slump in the market. However, I do want to be prepared with a plan if it does occur.

[button_2 color=”green” align=”center” href=”https://youtu.be/z2Y0GPY33ZU”]Morning Market Prep Video[/button_2]

Trade Wisely.

Doug

$S Bullish Ascending Triangle

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$S Bullish Ascending Triangle

$S Bullish Ascending Triangle(Sprint Nextel Corp) S has formed a Bullish Ascending Triangle with my big 3 moving averages and the 200-sma all coiled up tight. The 2 and 3-day charts have put a Bullish Engulf together that engulfed price and the big 3. The daily chart has formed a type of Bull Kicker after pulling back to the lower trend line.

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

17 positions open with 75% of trading account in use. In the past 30 days we have closed 16 positions at a 62% win rate (dropped a little in the last few days). We took a 5.5% lose yesterday on a trade that was not working out

Are you having trouble putting together a winning trade? Not sure what scans to use? You come so close 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.

 

[67.39% WUBA] WUBA was first presented to HRC members on February 19,

WUBA, still Bullish and may be setting up with a T-Line Run. Hit and Run Candlesticks members have learned the importance of their trading tools, Price with Candlesticks and manage their trades using The T-line, Trend, Trend Lines, Support, and Resistance.

 

Eyes On The Market (SPY)

A repeat of what I wrote yesterday – Price and the T-Line are trapped between Support $245.70ish and Resistance $247.90ish. The 2-day chart still shows a Bearish Engulf but price is still above the 2-day T-Line Band high. The battle is on!

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.

 

A wildly bullish Dow gives me pause.

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A wildly bullish Dow gives me pause.

wildly bullish DowAs many of you know, I am always cautious when I see a market gap up to new highs.  With the wildly bullish Dow Index gaping to another record high raises caution flags.  The muted price action of the QQQ, SPY, and IWM means that only 30 companies are trying to lift the entire load.  It is possible, but such a strong gap after major rally could also produce an exhaustion pattern.  Make no mistake, the trend is up, and I will stick with the trend, but I will not chase this gap.  Chasing a gap after a major rally is a kin to playing Russian roulette with a loaded gun.  Avoid emotion with a well thought out plan and have the discipline to follow that plan to protect you from you!

On the Calendar

The Economic Calendar starts August with Personal Income and Outlays at 8:30 AM Eastern.  Incomes are expected to increase 0.4%. However, spending has remained muted only rising 0.1%.  Consensus for the core PCE is 1.4% yearly which is only a 0.1% increase.  PMI Manufacturing Index is at 9:45 AM is expected to come in at a positive but moderate 53.2 reading.  A far more important number, ISM MFG index comes out at 10:00 AM.  It has been very strong this year, and that will continue if the consensus is correct with the expectation of 56.2 print.  Construction Spending is also at 10:00 and is expected to post an increase of 0.5, however, continues to be soft overall this year.

On the Earnings Calendar, there are nearly 280 companies reporting today.  The big news of the day comes after the close when AAPL reports earnings.  With the recent slide in tech, there are those saying the AAPL report is so important it may overshadow the Employment Situation number on Friday!  I’m sure about that but how AAPL reports will likely be critical to market direction.

Action Plan

The Bulls in the DIA managed to hold onto the morning gap but was unable to lift the other indexes.  The QQQ closed below support with a dark cloud cover pattern while the SPY held support but just barely.  IWM tested resistance early in the day yesterday but bears pushed back down confirming resistance but just holding on to the current trend.  So all and all we have 30 companies trying to lift the entire market and making very confusing signals overall.

The Dow futures are wildly bullish this morning suggesting a gap up more than 100 points.  The other index futures are also pointing higher but at this time are not reversing the negative candles left yesterday.  It’s my inclination to jump to the decision that the DIA this morning is an exhaustion gap which could signal the end of this rally.  However, it is always unwise to predict or bet against a strong trend.  My plan for today will be closely watching price action for clues of reversal.  I will stay with the trend until I have evidence of something different.  Watch the potential pop and drop or whipsaw price action this morning and prepare to act if necessary to protect profits and trading capital should a reversal occur.

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

Trade Wisely,

Doug

BKS Hammer, Bull Kicker, Consolidate

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BKS Hammer, Bull Kicker, Consolidate

BKS Hammer, Bull Kicker, Consolidate(Barns & Noble) BKS has formed a recent chart pattern that includes a Hammer, Bull Kicker and now consolidating with a FLAG. The T-Line has risen above it’s self as well as the 34-ema. BKS is an HRC- Rounded Bottom Breakout setting up to challenge the 200-sma, 17% away.

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 are still holding 18 positions, closed one for a loss and added a position (Inverse ETF) yesterday. I am growing a bit concerned about the market and will start to close few more positions so not to be over exposed.

Are you having trouble putting together a winning trade? Not sure what scans to use? You come so close 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.

 

[29.49% IPI] IPI was first presented to HRC members on May 16,

IPI is still Bullish and has moved above consolidation with a T-Line Run. Hit and Run Candlesticks members have learned the importance of their trading tools, Price with Candlesticks and manage their trades using The T-line, Trend, Trend Lines, Support, and Resistance.

 

Eyes On The Market (SPY)

Price and the T-Line are trapped between Support $245.70ish and Resistance $247.90ish. The 2-day chart still shows a Bearish Engulf but price is still above the 2-day T-Line Band high. The battle is on!

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.