Rick’s Featured Trade Ideas
It’s Friday – No trade ideas today
SPY: The Bulls managed to put together a bullish harami by the close of yesterday, still closing below the T-Line™ and allowing the sellers to stay in control. The bullish Harami may be a sign that the Bulls are creating a little bottom for a relief rally, but I believe that when I see it! When I see the Bulls close price over $194.50, I will take their attempt at a relief rally a bit more seriously.
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The meeting of minds, the meeting of waters . . . Amazing things can happen when two great powers meet. Although the meeting of lines in a candlestick pattern isn’t exactly momentous, it is both simple and rare. The Bullish Meeting Lines pattern involves just two candles: one black and one white. This pair of candlesticks meets at the close, meaning that the closing price of the second (bullish) candle is equal to the closing price of the first (bearish) candle. However, because the Bullish Meeting Lines pattern is similar to other signals, as we will discuss below, it can be difficult to spot—so take your time and keep an eye on the details.
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Rick’s Featured Trade Ideas
CTIC/ Long (Biotechnology) Cell Therapeutics Inc., has formed a rounded bottom breakout with a retracement back to support and the 50% fib line closing yesterday back above the 23.6 retracement.
Plan your trade and trade your plan, and join us in the trading room at 9:10 Eastern every morning to plan a few trades.
CTIC/ Plan your trade & trade your plan January 13, 2016
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close Below $Members Only
Risk Reward 8:1 depending on entry/exit/stop
100 Long shares of SIEN would have netted you $323.00
Member’s trade idea December 17, (SIEN) Long 63%
Member’s trade idea November 24, (ROVI) Long 51%
Member’s trade idea November 6, (DWA) Long 27%
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SPY: “Think Relief Rally,” that’s what we called for yesterday, and the SPY started the process by closing up .81%. We expect more follow-through today and even a possibility of testing the T-Line™, or even better, closing over the T-Line™.
Yesterday I noticed many on our watch-list were showing signs of bullishness and closing in the green, and one of our members’ trade ideas yesterday, CHUY, closed up 5.5%, and another of our members’ trade ideas from last month, SIEN, closed higher for a total of 63.58%.
I still believe this is only a relief rally until the proper bottom and reversal pattern have been created.
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