Good morning everyone
As I write this the Dow futures are pointing toward a negative open but some big profile earnings reports prior to the open, a couple big economic reports after the open and Fed speak, how we close the day is anyone’s guess. What we do know as fact is that Friday left us with a bearish candle on the DIA and the SPY once again reacting negatively to the upper boundary of the downtrend. On the other hand, we are also near the support that has kept us locked into a very narrow range of chop.
Being bullish or bearish at the moment would be nothing more that guess reflecting your personal bias. Be careful because anything is possible with the potential for very large moves in price.
Personally, I want to stay very small and limit my trading until this chop has resolved into an uptrend or downtrend. I really don’t care which direction.
Keep in mind after the close we kick earnings of the big tech’s with IBM and NFLX.
Trade Wisely,
Doug
Click Here to Watch the Morning Video
Good morning everyone
It’s Friday! This has been a very tough week, and I for one will be very happy to have it fade into memory. Today we have have had some big banks reporting earnings. The reports were positive and so we gap once again in the pre-market. Yesterday’s open to today’s open is nearly 200 Dow points apart. Feeling chopped up? You’re not alone.
We have 3 Fed speakers today which could easily reverse the happy sentiment we see in the futures this morning. We also have several economic reports that could move the market around this Friday. Be careful!
The RWO E-Learning normally the 3rd Saturday will be postponed until next Saturday due to my father-in-law’s funeral. Also, I will be conducting the RWO room today in room 1. The password will be removed so everyone can attend.
From lunchtime on I will be hit and miss today with lots of folk coming in for the funeral. If you send me an email or PM’s there is a very good chance I won’t be able to get to them.
I wish you all a fantastic weekend.
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
PSG | Morning Star | Doji Continuation setup
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
CZZ Long, a classic J-Hook Breakout up 15.48% for our subscribers with a 2.73% move yesterday.
WAC Long, RBB pattern up 2.17% yesterday a total of 24.34% for HRC subscribers
NEM Short, 12.82% total for HRC subscribers
T-Line™ below the 34-ema (SPY) — The SPY found a little support .61 cents from one our deuce lines and closed above $212.39 (Septembers low). Until a close and support is established above $214.50, we will look at yesterday’s and today’s positive move as a relief rally. $215.50 is not a sign of total bullishness; it is merely the number that puts the SPY back in its sideways, go nowhere pattern.
Price and the T-Line™ are below the 34-ema, and the sellers have trend control. The weekly candlestick pattern in the SPY is still suggesting sellers have control and that $212.40 is very important.
Ready to be on the winning team? Click Here
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
Keep your eye on the inverse ETF’s They trade well!
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
PSG | Morning Star | Doji Continuation setup
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
CZZ Long, a classic J-Hook Breakout up 15.48% for our subscribers with a 2.73% move yesterday.
WAC Long, RBB pattern up 2.17% yesterday a total of 24.34% for HRC subscribers
NEM Short, 12.82% total for HRC subscribers
T-Line™ below the 34-ema (SPY) — The SPY found a little support .61 cents from one our deuce lines and closed above $212.39 (Septembers low). Until a close and support is established above $214.50, we will look at yesterday’s and today’s positive move as a relief rally. $215.50 is not a sign of total bullishness; it is merely the number that puts the SPY back in its sideways, go nowhere pattern.
Price and the T-Line™ are below the 34-ema, and the sellers have trend control. The weekly candlestick pattern in the SPY is still suggesting sellers have control and that $212.40 is very important.
Ready to be on the winning team? Click Here
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
UNG
PDS
CZZ
CSIQ
WAC
SU
SKYW
OKS
ERF
PSG
LPG
OII
ESV
These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
Keep your eye on the inverse ETF’s They trade well!
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
AMBA Short | Evening Star | (BIF) Blue Ice Failure | DT | Support Breakdown
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
If you attended our public e-Learning/Webinar Tuesday night (the 11th) we left you with a small list of stocks that we thought was worthy of a watch list.
Here are a few from the list and the profits so far, the swing is not over.
SUPN 6.35%
SPLK 3.77%
CSOD 2.84%
QGEN 2.27%
We will keep you posted, today is likely to increase profits.
T-Line™ below the 34-ema (SPY)— The SPY closed yesterday with a Doji at the bottom of the previous day’s bearish candle, this is a classic Doji continuation pattern. At the close yesterday, we spoke with members/subscribers and suggested that the sellers had control and a move below Septembers low was likely. Our next target below the September low is about $210.15
The Doji Continuation pattern is a classic High Probable pattern that we teach here at HRC.
Ready to be on the winning team? Click Here
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
Keep your eye on the inverse ETF’s They trade well!
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
AMBA Short | Evening Star | (BIF) Blue Ice Failure | DT | Support Breakdown
Double click the trade plan to enlarge.
This not a recommendation to buy. Simply sharing a trade we are considering.
Good Morning, Profit Traders,
If you attended our public e-Learning/Webinar Tuesday night (the 11th) we left you with a small list of stocks that we thought was worthy of a watch list.
Here are a few from the list and the profits so far, the swing is not over.
SUPN 6.35%
SPLK 3.77%
CSOD 2.84%
QGEN 2.27%
We will keep you posted, today is likely to increase profits.
T-Line™ below the 34-ema (SPY)— The SPY closed yesterday with a Doji at the bottom of the previous day’s bearish candle, this is a classic Doji continuation pattern. At the close yesterday, we spoke with members/subscribers and suggested that the sellers had control and a move below Septembers low was likely. Our next target below the September low is about $210.15
The Doji Continuation pattern is a classic High Probable pattern that we teach here at HRC.
Ready to be on the winning team? Click Here
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
BCEI
NIHD
SFM
CSIQ
——–Short
PODD
AMAT
NXTM
TRN
AMBA
ZEN
IPHI
QGEN
WRK
These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
Keep your eye on the inverse ETF’s They trade well!
Continue Reading
Good morning everyone
The good news is we no longer have to worry whether or not the support will be tested. That has clearly been answered and we have to move on the next question. Will support hold? I suspect with some of the big banks reporting on Friday and early next week that hope of positive numbers will prevent the big guys from getting full-on bearish just yet. That, however, doesn’t mean that we could see a quick move below support simply to sweep out stops so don’t rush in if we see a little bullish push right at the open.
If you are a long-only trader let me suggest taking the rest of the week off. Wait to see if earnings can, in fact, break the downtrend. Until that occurs the bears are in control and they love to steal the lunch money of traders high on hopium predicting a bottom has been made. You risk almost nothing by waiting for proof except maybe bragging rights if you do happen to get lucky and pick the bottom. If you are that kind of trader it’s better to go to Vegas because there will at least bring you free drinks to dull the pain of watching your money disappear. That may sound a bit harsh but it’s the truth. You can thank me later.
Trade Wisely,
Doug
Click Here to Watch the Morning VideoP
A look at a few short trades because of the markets weak condition with the SPY testing the September low. If you were present at webinar you also received a good swing trade list of short and a few long ideas.
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
Z Short | (BIF) Blue Ice Failure
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
JDST, a classic (RBB) Rounded Bottom Breakout, up 39.70% for our subscribers and popped 9.77% yesterday.
ALJ, up 23.74% for our subscribers and yesterday was a 3.78% day.
It’s earning time again. Check and double check. Do you want to own a stock that has earnings?
If you were at the public webinar last night, you received a special trade ideas list. Make a trading plan, follow your rules, take profits and use a stop. I’ll see you at the bank when we deposit our gains!
T-Line™ below the 34-ema (SPY) The market turned more ugly than it was the day before. The SPY lost 1.26% finding help at the September low. Unless the Fed helps this market today, I doubt the September low is going to help. $210.40 is looking like a stop over based on yesterday’s attitude.
Ready to be on the winning team? Click Here
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
Keep your eye on the inverse ETF’s They trade well!
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
Z Short | (BIF) Blue Ice Failure
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
JDST, a classic (RBB) Rounded Bottom Breakout, up 39.70% for our subscribers and popped 9.77% yesterday.
ALJ, up 23.74% for our subscribers and yesterday was a 3.78% day.
It’s earning time again. Check and double check. Do you want to own a stock that has earnings?
If you were at the public webinar last night, you received a special trade ideas list. Make a trading plan, follow your rules, take profits and use a stop. I’ll see you at the bank when we deposit our gains!
T-Line™ below the 34-ema (SPY) The market turned more ugly than it was the day before. The SPY lost 1.26% finding help at the September low. Unless the Fed helps this market today, I doubt the September low is going to help. $210.40 is looking like a stop over based on yesterday’s attitude.
Ready to be on the winning team? Click Here
Rick & Hit and Run Candlestick Team
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
SEAS
——–Short
UNH
AMAT
BSX
Z
TRN
PFPT
JEC
CSOD
TSE
ZEN
IPHI
AMBA
These are the stocks I put on my watch list to trade. I focus on these stocks for Swing Trades and the potential 10% – 40% gains. You must follow your trading rules for entry stops, profits or losses. Remember to check for earnings!
Keep your eye on the inverse ETF’s They trade well!
Continue Reading
