Friday’s at Hit & Run Candlesticks
- Never end the week without profits
- Reevaluate your current positions
- Share your week’s trading with a trading buddy
Good Morning, Profit Traders,
We closed 1/2 of TZA – Yesterday we closed 1/2 of our TZA position for an 11.69% (Double-Digit gain). TZA was already above our first target. IWM is still under the seller’s spell and more downside is likely, remember there are always little relief rallies.
The SPY ended up engulfing Wednesday keeping the T-Line under the 34-ema and sellers in power. One of the SPY targets is the $211.50 area – on target.
OUR EXAS short has hit Double-Digit Status with plenty of room to go.
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Set Goals – Then MEET THEM
Become a Master – And never stop learning
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Friday’s at Hit & Run Candlesticks
- Never end the week without profits
- Reevaluate your current positions
- Share your week’s trading with a trading buddy
Good Morning, Profit Traders,
We closed 1/2 of TZA – Yesterday we closed 1/2 of our TZA position for an 11.69% (Double-Digit gain). TZA was already above our first target. IWM is still under the seller’s spell and more downside is likely, remember there are always little relief rallies.
The SPY ended up engulfing Wednesday keeping the T-Line under the 34-ema and sellers in power. One of the SPY targets is the $211.50 area – on target.
OUR EXAS short has hit Double-Digit Status with plenty of room to go.
Learn the Basics – Build your trading foundation
Gain insight – Daily updates keep you on your toes
Set Goals – Then MEET THEM
Become a Master – And never stop learning
Join a Team – Members share their expertise as well
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Good morning everyone
Today is a huge day for earnings with 450 companies reporting. After the close, we get a double whammy with 2 of the huge tech giants reporting. AMZN and GOOG can have the power to move the market in either direction. Options are suggesting that both companies have the potential of huge moves today. If they both happen to be positive moves we could finally see resistance tested, on the other hand, if they were to both disappoint support cold be broken. Al we can really do is watch, wait and hope for the best.
Next week is yet another big week of earnings reports so the drama of earnings is far from over. Speaking of drama, with only 13 days left to the election we can expect the candidates to do and say almost anything to get a vote. That, of course, can and will likely continue to be the driving force keeping the market range bound and choppy. Personally, I see this election as a national embarrassment. No matter who wins we all lose. How the market will react is anyone’s guess but It will react with some sort of knee jerk reaction. Keep that in mind as you plan your portfolio holdings over the next couple weeks.
Trade Wisely,
Doug
Click Here to Watch the Morning Video
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
EVH Short |3-day Evening Star| Dreaded “h” Pattern | Blue Ice
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
IWM under a great deal of pressure – Yesterday, IWM had a failed attempt at closing above the T-Line™ and closing above Tuesday’s close. The trend in the IWM chart is currently controlled by the sellers with short-term relief rallies. Unless there is a dramatic change in the overall market I expect IWM to reach another low target of $117.40ish.
We are currently in a mixed bag of positions, longs and shorts. We still see plenty of long positions and far more short positions.
We will continue to do what we do best as you should as well, stick with what you know (trading strategies) lower position size, take profits sooner, work within trending charts in the direction your trading. And most of all except the fact you don’t have to trade every day, just because someone else is making money doesn’t mean you’re going to make money.
Learn the Basics – Build your trading foundation
Gain insight – Daily updates keep you on your toes
Set Goals – Then MEET THEM
Become a Master – And never stop learning
Join a Team – Members share their expertise as well
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
EVH Short |3-day Evening Star| Dreaded “h” Pattern | Blue Ice
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
IWM under a great deal of pressure – Yesterday, IWM had a failed attempt at closing above the T-Line™ and closing above Tuesday’s close. The trend in the IWM chart is currently controlled by the sellers with short-term relief rallies. Unless there is a dramatic change in the overall market I expect IWM to reach another low target of $117.40ish.
We are currently in a mixed bag of positions, longs and shorts. We still see plenty of long positions and far more short positions.
We will continue to do what we do best as you should as well, stick with what you know (trading strategies) lower position size, take profits sooner, work within trending charts in the direction your trading. And most of all except the fact you don’t have to trade every day, just because someone else is making money doesn’t mean you’re going to make money.
Learn the Basics – Build your trading foundation
Gain insight – Daily updates keep you on your toes
Set Goals – Then MEET THEM
Become a Master – And never stop learning
Join a Team – Members share their expertise as well
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
The overall market continues to show weakness with a sellers downtrend line still in place, the T-Line™ is still tracking below the 34-ema. AAPL just reported and is down after hours. The QQQ’s have been leading the market but could end up being bruised if AAPL starts to sell off.
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ESTY Sort |PBO Morning Star| Trending
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
Will $211.50 be tested (SPY)? Yesterday we had a doji top failure (Shooting Star) at the top of the downtrend line. I see a little short-term support at the $211.50 level if the sellers keep pushing the buyers back. Both SPY and IWM are setting up for serious Blue Ice Failure if the buyers don’t wake up.
The Nasdaq Composite Index is looking very toppy and forming a sellers dream; below $5180 will be painful.
USO is in a pullback stage, and we are watching the $10.95 area but most of all waiting for a reversal signal to appear, (a test of traders’ patience). UUP found resistance and printed a Bearish Dark Cloud Cover. A pull back to some extent is 100% likely.
Here at HRC, RWO and Trader Vision we are proud of our education. We teach a simple common sense approach to Swing Trading for Profit.
Learn the Basics – Build your trading foundation
Gain insight – Daily updates keep you on your toes
Set Goals – Then MEET THEM
Become a Master – And never stop learning
Join a Team – Members share their expertise as well
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ESTY Sort |PBO Morning Star| Trending
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
Will $211.50 be tested (SPY)? Yesterday we had a doji top failure (Shooting Star) at the top of the downtrend line. I see a little short-term support at the $211.50 level if the sellers keep pushing the buyers back. Both SPY and IWM are setting up for serious Blue Ice Failure if the buyers don’t wake up.
The Nasdaq Composite Index is looking very toppy and forming a sellers dream; below $5180 will be painful.
USO is in a pullback stage, and we are watching the $10.95 area but most of all waiting for a reversal signal to appear, (a test of traders’ patience). UUP found resistance and printed a Bearish Dark Cloud Cover. A pull back to some extent is 100% likely.
Here at HRC, RWO and Trader Vision we are proud of our education. We teach a simple common sense approach to Swing Trading for Profit.
Learn the Basics – Build your trading foundation
Gain insight – Daily updates keep you on your toes
Set Goals – Then MEET THEM
Become a Master – And never stop learning
Join a Team – Members share their expertise as well
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Good morning everyone
I’m sorry that there was no Morning Video yesterday and that I had to cancel the RWO room. Trust me I did everything I could to get back online as soon as possible but when the city decides to dig right through a major internet trunk line there is only so much that can be done.
Sadly yesterday did nothing but continue to confirm that the current downtrend is still valid. This morning we are seeing that bearishness gap the market lower for yet another test of support. Let’s hope it holds because it doesn’t we could see some very rapid selling as stop loss orders begin to trip.
Thus far earnings have done nothing to break us out of this downtrend, however, with more than 200 companies reporting today and 450 tomorrow anything is possible. Please make sure you are checking when a company reports before jumping into anything.
We have some big new items this morning that could move the market but I think the one to keep any eye on is the report on oil. A surprise build in surplus would likely send oil lower and pull the overall market down as well.
I know I sound like a broken record but please use caution when trading. A very big price move is possible at any time and you don’t want to be caught on the wrong side of it.
Trade Wisely,
Doug
Click Here to Watch the Morning Video
