Rick’s Featured Trade Ideas
SBUX/Short (Restaurants) From early November, Starbucks has continued to print lower highs and lower lows, and last week Starbucks successfully created a blue-ice failure.
SBUX/ Trade Planning = Profits Jan 4
Possible entry plan idea: Sell box $Members Only
Possible stop plan idea: Cover Above $Members Only
Risk Reward 4:1 depending on entry/exit/stop
100 Long shares of CSIQ would have netted you $432.00
Member’s trade idea December 17, (SIEN) Long 16%
Member’s trade idea December 15, (CSIQ Long 17%
Member’s trade idea December 4, (CENTA) short 12%
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SPY: The daily weekly and monthly charts are all presenting a bearish attitude. From the November high, the SPY has continued to post lower highs and lower closes, all signs that the sellers are in control. The weekly 23.6 Fibonacci projection puts price at the $198 area with a $195 gap fill target if the buyers can’t put together a complete reversal rally. We held our TZA long and our SBUX short over from last week, a great start to the 2016 year.
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Rick’s Featured Trade Ideas
SEDG/Long (Solar) SEDG has produced a 15-day T-Line™ run then flagged with a nice breakout yesterday. I am looking for an 18% swing trade.
SEDG/ Profits through education Dec 31
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below: Members Only
Risk Reward 5:1 depending on entry/exit/stop
100 Long shares of LITE would have netted you $222.00
Member’s trade idea December 30, (WTW) Long working 9%
Member’s trade idea December 14, (LITE Long working 10.91%
Member’s trade idea December 16, (HPY) Long working $1024
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SPY: Although the SPY closed over the T-Line yesterday, price definitely struggled to break out over the bearish downtrend line. As we started 2015 almost one year ago, I’m sure every trader was thinking how price was going to leave 2015, 2015 would give us new highs and the Bulls would control the market. Well, here we are the end of the year, and the Bulls are trying desperately just to close over the 2014 close. What does this tell us? Well, since we are swing traders and trade from overnight to maybe 15 days, it really shouldn’t tell us a whole lot because here at Hit-And-Run Candlesticks, we follow the charts and we don’t predict. We use candlesticks and trend lines, chart patterns and price action. This is why we are so successful. We don’t try to predict what 2016 is going to be; we simply trade the chart. Our job is not to pick the bottom or pick the top; our job is to pull the sweet money out of the middle.
For everyone that traded with us this year, thank you. If you have a friend and would like to give them a gift, reach out and tell them about us.
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Rick’s Featured Trade Ideas
LITE/Long (Communication equipment) Also featured on December 14, recently had profit taking and a pull back to near the 20-day simple moving average with a Doji bottom and a Bullish Engulf. Price is now trying to break out into a J-Hook continuation pattern.
LITE/ Profits through education Dec 30
Possible entry plan idea: Buy box $Members Only
Possible stop plan idea: Close below $Members Only
Risk Reward 13:1 depending on entry/exit/stop
100 Long shares of ROVI would have netted you $555.00
Member’s trade idea September 30, (NVDA) Long working 41%
Member’s trade idea November 24, (ROVI) Long working 50%
Member’s trade idea December 15, (ENPH) Long working 110%
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SPY: After a slight pullback, the T-Line™ and a hammer triggered a gap closing above the big three, the 200 SMA and, more importantly, the lower high downtrend line of $205.75, which is the 50% line between the high and the low of the bearish “M” pattern. Over $205.75, we consider bullish.
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