Rick’s Featured Trade Ideas

Friday – a great day to take PROFITS!
I will be covering 14 possible trades (long & short) for members in the trading room this morning starting at 9:10 Eastern.

SPY:  The bearish “M” pattern, a pattern to recognize.  Over the past few weeks here at Hit & Run Candlesticks we have talked about the bearish “M” pattern and has offered caution many times in the trading room. This pattern is BEARISH and not a pattern to fool with.
It is been posted several times that the November 16 low is more than likely to be tested and if you are trading long you would need to take special precautions.

The weakness continues in the SPY with yesterday failing the T-Line™ strengthening the bearish “M” pattern.  The current price action is still suggesting that we test the November 16 low or about $202.00. with a failure of the $202.00 area, $195.30 could be where we find price if the market is unhappy with the FED decissions.  The T-Line™ continues to act as a downward trend line for the short-term swing traders, the T-Line™ is also likely to push through the 34 EMA today, that would suggest more weakness for the Bulls.
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Rick’s Featured Trade Ideas

ADPT/Short(Healthcare)  ADPT – Continues to show weakness, now setting up for a bearish “h” pattern for a possible test of the recent low and a push lower.  A failed attempt of the 34 EMA resulted in a shooting star-type candle with a long upper wick. The recent close below the T-Line™ is a clue for the short-term swing trader to climb aboard.
ADPT/ Profits through education  Dec 10
Possible entry plan idea:   Sell box $Members Only
Possible stop plan idea:   Cover above $58.90
Risk Reward 7:1 depending on entry/exit/stop
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Rick’s Featured Trade Ideas

GPN/Short (Business services)  After the Doji Bearish engulf on volume, price has slid below the T-Line™ and the 20-day simple moving average on the daily chart currently forming a bear flag.
GPN/ Profits through education  Dec 9
Possible entry plan idea:   Sell box $Members Only
Possible stop plan idea:   Cover above $
Risk Reward 6:1 depending on entry/exit/stop

Buying 100 shares of VTL would have netted you $583.00
Member’s trade idea October 8,  (VTL) Long working 126%
Member’s trade idea November 11, (CENTA) Long working 16%
Member’s trade idea October 2o, (FCS) long working 23%
Receive your password / login instructions within minutes, and join us in the trading room starting today. Read More
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