Rick’s Featured Trade Ideas
M/ (Department store) (M) Macy’s Has formed a double bottom, Bullish Engulf closing over the T-Line then follow-through. A near bullish kicker yesterday closed Macy’s up 8.16%. I believe we can all make some money on this trade by proper management.
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M/ Plan your trade & trade your plan January 12, 2016
Possible entry plan idea: Buy box $Member Only
Possible stop plan idea: Close Below $Members Only
Risk Reward 7:1 depending on entry/exit/stop
100 Long shares of SIEN would have netted you $286.00
Member’s trade idea December 17, (SIEN) Long 56%
Member’s trade idea November 24, (ROVI) Long 50%
Member’s trade idea December 17, (GFI) Long 12%
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SPY: Think Relief Rally. Yesterday we saw the SPY find a low $189.82 and lift about 1.11% creating a hammer just slightly above the 50% fib line. The market is very oversold, and it may be time we use our relief rally game plan. In fact, all the trade ideas today will be longs, but remember we are in our relief rally game plan.
Relief rally points of interest are $194.10, $197.40, and $198.80 and would put you back to the 50% retracement of the recent bear run.
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Rick’s Featured Trade Ideas
AET/ (Healthcare) AET continues to fail the upper downtrend line. The descending triangle and the weekly bear flag may find itself giving way in the next few days.
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.
AET/ Plan your trade & trade your plan January 11, 2016
Possible entry plan idea: Sell box $Members Only
Possible stop plan idea: Cover Above $Members Only
Risk Reward 14:1 depending on entry/exit/stop
100 Long shares of ABX would have netted you $1428.00
Member’s trade idea September 29, (FTNT) Short 33%%
Member’s trade idea November 18, (INFN) Short 23%
Member’s trade idea October 29, (UA) Short 22%%
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SPY: Friday was more proof that the sellers are controlling this market. The SPY was down 1.10% for the day and 5.86% for the week. Last week, price cut through our 23.6% retracement, and as it stands now, the 38.2 fib retracement is in jeopardy. I still believe the $188 area on the SPY is what this recent bearish move is looking for. With this in mind and the current trend confirming short positions, inverse ETF’s are still the moneymakers. We will also be able to find profits in long charts with specific setups and trade very short-term.
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Rick’s Featured Trade Ideas
GNC/Long (Pharmaceutical retail) GNC has formed a Rounded Bottom Breakout from a Bullish Engulf with three days of follow-through.
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.
GNC/ Plan your trade & trade your plan January 8, 2016
Possible entry plan idea: Buy box $Reserved for Members
Possible stop plan idea: Close Below $Reserved for Members
Risk Reward 5:1 depending on entry/exit/stop
100 Long shares of ABX would have netted you $100.00
Member’s trade idea December 14, (ABX) Long 12%
Member’s trade idea December 4, (LEIH) Short 28%
Member’s trade idea August 12, (SA) Long 36%
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SPY: We made it to another profit-taking Friday, China’s back to trading, employment numbers are today and the SPY is down 4.75% this week, short trades and inverse ETF’s rocked. We even made some money on long trades!
The SPY continues to show weakness cutting through the $195 area like it wasn’t even there. I still believe the $192 – $188 area may be tested with a likely relief rally beforehand. The overall market has undergone tremendous technical damage, and for the indices to see new all-time highs, the indices will need to build quality reversal chart patterns. Continue to make a plan for each trade and trade that plan! Your first technical analysis of a chart is usually the correct one.
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