Friday Is The Day We Count Our Money

July 21, 2017 by Rick Saddler

Friday Is The Day We Count Our Money

(It’s Friday) 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 trading goals, are the 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.

HRC Trading Stats

Below you will find the Hit and Run Candlesticks trading stats for the past 30 days.

We are currently holding 2 double digit winners 8 single digit winners, 9 within 2% of breaking even. We will continue to manage our trades looking for good solid swings.

What would you do with 2-3 or even 4 double-digit trades every week? Education on how to manage a trade from start to finish is key to a swing traders 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 Candlestick, Right Way Option, Strategic Swing Trade Service and Trader Vision.

$AGEN was first presented to HRC members on July 5,

With a 3.07% move yesterday the total now 25.75%. Another case of knowing how to manage a chart with Candlesticks, The T-Line, and Support and resistance and the trend.

Eyes On The Market

The market remains bullish with Thursday’s close. SPY, IWM QQQ, and DIA all above the T-Line and trending. The transports are a little weak (caution). Continue to manage the trades that are working for you.

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 watchlist, we wait until price action meets our conditions for a trade.

Each day Hit and Run Candlesticks shares with members 10-15 trade ideas for the watchlist.

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.

Taking Profits to the Bank.

July 21, 2017 by Doug Campbell

Taking Profits to the Bank.

After posting the first 10-day bull run in two years, I have Taking Profits on mind this Friday. It has been an amazing run, and it’s very thoughtful of the Bulls to have kept it going to our normal profit taking day, Friday! With the QQQ’s and the SPY posting a hanging man pattern yesterday I am further encouraged that is time to go the bank. Please don’t misunderstand; I’m not suggesting the market is going start falling! I am merely suggesting there are enough clues that I need to take some profits and reduce my long exposure ahead of the weekend. After all, isn’t consistently profiting the goal of professional trading? Never let greed prevent you from taking profits on a consistent basis!

On the Calendar

Today we get a very nice rest on the Economic Calendar with only the Baker-Hughes Rig Count at 1:00 PM Eastern. The Rig Count tracks the number of actively operated oil and gas rigs. It a relatively benign number and very unlikely to move the market unless it reports a major surprise. That wraps up the Economic Calendar for this week.

We also get a Friday break on the Earnings Calendar with only 34 companies reporting earnings. Some the notables are CL, HON, GE, and KSU. Although important I don’t see any reports that are likely to be big market movers today.

Action Plan

Yesterday we as we DIA product a couple of whipsaws that for a short period looked like the Bears were grabbing control. The Bulls went to work defending prices and closing the SPY, IWM, and the QQQ’s at new record highs for the first ten-day winning streak since 2015. As good as is was to see the Bulls step-up and defend we left behind a hanging man pattern on SPY and QQQ. The pattern is a warning that the Bulls could be running out of fire power but as with many candle patterns, it does require follow-through. However, it does warrant raising caution levels.

Futures were lower during the night, and currently, they are suggesting a slightly lower open. After 10-days up it’s not a surprise that some profit taking ahead of the weekend is likely. The MSFT report was positive on both the top and bottom line, and the stock is currently indication a higher open. Of course, there is always a chance the price could fall below our short strike at $72.50, but we should expect exercise. All that means is that we got paid to sell our position at a much higher price. I will be much more focused on profit taking than new entries today.

[button_2 color=”green” align=”center” href=”https://youtu.be/78Jw__Dc9wA”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

BAS – Bullish T-Line Run PBO

July 20, 2017 by Rick Saddler

BAS – Bullish T-Line Run PBO

(Basic Energy Service INC) $BAS Bullish T-Line Run PBO. BAS starterd it’s reversal with a Hammer on the daily chart or a Bullish Morning Start on the 2-day chart. The T-Line Run went to the 50-sma followed buy a PBO (Pull Back Opportunity) BAS is now a RBB stratagy with a Bullish Inverted Head and Shoulders and still a T-Line Run.

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

We sold DEPO yesterday for a 6.05 loss, and we are still holding IPI +23.56% and HIIQ 18.38% We have 3 more about to become double digit trades.

What would you do with 2-3 or even 4 double-digit trades every week? Education on how to manage a trade from start to finish is key to a swing traders profits.

$CAR was first presented to HRC members on June 1,

With a 3.92% move yesterday the total now 42.55%. Another case of knowing how to manage a chart with Candlesticks, The T-Line, and Support and resistance.

Eyes On The Market

Over all the market is bullish, price leading the T-Line and support doing its job as of yesterday. 2 ETF’s that might help with the market overview is (VTI) Total Stock Market ETF and (VT) Total World ETF. IWM finally broke out.

What is a Trade Idea Watch-list?

MEMBERS ONLY

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.

Bullishness or Irrational Exuberance?

July 20, 2017 by Doug Campbell

Bullishness or Irrational Exuberance?

There is a very thin line between a bullish market and irrational exuberance. After the 9^th day of rallying straight up, I’m not predicting irrational bullish behavior, but it would be foolish to think this kind of price action will continue forever. Good earnings reports could continue to encourage buyers to pile on, and exuberance can continue much longer than anyone would expect. So what is a responsible trader to do? Trade with a plan! It is only with a plan and the discipline to follow it that you can avoid predicting and emotional trading. HRC and RWO have proved over and over that planning makes the difference in profiting consistently. If you’re not planning I have to ask, What are you waiting for, an engraved invitation?

On the Calendar

The Thursday Economic Calendar begins with the Weekly Jobless Claims and the Philadelphia Fed Business Outlook Survey at 8:30 AM Eastern. Labor demand remains very strong, and forecasters see jobless claims falling by 1000 to 246K last week. Growth in the factory sector has been exceptional in the Philadelphia Fed index. The index came in at 27.6 in June with the July consensus at 22.0. Order readings are at extraordinary levels and points to an overheating at least in the Philly sample. Leading indicators are at 10:00 AM, and after that, there is a pile of bill and note announcements.

Today is the first big day of the 3rd quarter Earnings Calendar with 128 companies expected to report today. Some of the notable reports would be EBAY, MSFT, KEY, and V. Make sure you are checking current holdings and potential new trades for earnings dates as part of your daily planning.

Action Plan

The Bulls showed some incredible strength yesterday stampeding higher with no fear. The SPY was the strongest of the indexes with buying right into the close and yet another all time record high. Bullish buyers even lifted the IWM which has lagged behind the rest of the market to new all time record highs. With the 9^th straight day of gains, even the QQQ’s managed a new record high close having sliced through multiple layers of price resistance as if they were never there.

To me, the overall market seems to be displaying irrational bullishness. That can continue as buyers continue to pile in feeling as if they are missing out. However blind bullishness can also create some very nasty reversals. Make sure you are protecting your profits and have a plan on every trade in case the market suddenly turns. I will likely be more focused on taking profits today and tomorrow than looking for new trades in an over extended rally. Having said that there are so many great looking charts setting up. If earnings continue to attract buyers, it is entirely possible this rally can extend even more but if you do trade make sure you entering low-risk trades rather than chasing trades already will within their run higher.

[button_2 color=”green” align=”center” href=”https://youtu.be/l-pq2Df_o-4″]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

CZR And The Bullish J-Hook Continuation Pattern

July 19, 2017 by Rick Saddler

CZR And The Bullish J-Hook Continuation Pattern

(Caesars Entertainment Corp) $CZR and The Bullish J-Hook Continuation Pattern Breakout is easy to spot and easy to trade with a trading plan. The 34-ema has been trending while price pulled back to the 50-sma, printed a Bullish Piercing candle followed by a Bullish T-Line Run. Yesterday cleared resistance for the next leg. The 2-Day chart printed a Bullish Morning Star signal on the PBO support line.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

We sold ADRX yesterday for a double digit profit, and we are still holding IPI and HIIQ both double digits.We are still holding IPI +20.08 ARDX +21.59%

What would you do with 2-3 or even 4 double-digit trades every week? Education on how to manage a trade from start to finish is key to a swing traders profits.

$FOLD was first presented to HRC members on June 1,

With a 7% move yesterday the total now 72%. Another case of knowing how to manage a chart with Candlesticks, The T-Line, and Support and resistance.

Eyes On The Market

What is a Trade Idea Watch-list?

MEMBERS ONLY

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 Bulls showed strength defending the rally.

July 19, 2017 by Doug Campbell

The Bulls showed strength defending the rally.

At the market, I was concerned that the Bears were taking over, but the Bulls showed strength, stepping up and defending the rally. The SPY and the QQQ’s displayed remarkable strength continuing to move up into the close. Currently, the bull run is getting a little over baked with eight days up, however, if earnings reports continue to provide the market confidence that can continue. If we stay objective setting aside personal biases and simply focus on price action, we can identify and follow the directional clues. Follow don’t predict!

On the Calendar

The hump day Economic Calendar begins with Housing Starts at 8:30 AM. Last week the housing starts and permits were noticeably weak last month coming in just over a 1 million annualized rate. Forecasters are expecting a big rebound this month bringing the annualized number up to a rate of 1.170. At 10:30 we have the EIA Petroleum Status Report that has become heavily watched by traders the last couple years. Inventories have been falling for several months now, and we need that to continue to stabilize oil pricing. If we happen to get an increase in supply, we can expect an overall negative reaction by the market.

On the Earnings Calendar, we have 81 companies reporting earnings today. There are few companies that report before the bell, but the biggest reports will be after the close today with the likes of AXP and QCOM. Stay on your toes as we ramp up and make sure you check when companies report or suffer the consequences.

Action Plan

After a quick morning plunge, the Bulls went back to work showing they want to defend support levels. The DIA has the most dramatic move of the day leaving behind a Hammer pattern above price support. Keep in mind a Hammer requires follow-through. The SPY managed to squeak out yet another record closing high on its end of day bullish push while IWM remained under price resistance. The continued strength in the QQQ’s was nice however the rally is nine days old, and a pullback or consolidation could begin at any time.

Futures are currently suggesting a slightly lower open, but there are still some big reports to come, so anything is possible. We have some fantastic gains in our RWO trades, so the first order of business will be to manage these positions. I will be looking for new positions today, but once again I will likely give the market 15 to 30 minutes focusing on the price action before making any decisions.

[button_2 color=”green” align=”center” href=”https://youtu.be/VNwAhz3BEzY”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug