Yesterday we sent a text alert for SHAK. So far we are up 10% or $300.00. I will keep you updated if you are in the trading room or if you have subscribed to the free text messaging service. Get for free text alerts

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The Pinball Set-up: Imagine that you are at a pinball machine. You grab the plunger, pullback and the silver pinball falls back against the plunger paddle. Then you let go of the plunger and the silver pinball catapults up and away from the plunger to hit various targets or bumpers. The pulling back on the plunger builds momentum for a brief opposing move. The bumpers are resistance areas as the silver pinball moves higher. Eventually, the pinball loses momentum and falls back. This visual is the basis for the Pinball Set-Up strategy. Click for more Pinball Set-up Information

The market (SPY) has been bouncing between our Dotted Deuce (200-FWL) period moving average and the 50-SMA period moving average. Mr. Powell is set to speak this morning from Jackson Hole. I suspect the information given today will either pop or drop this market. Above the 50-SMA period M/A we should see a challenge of the July highs and below the 200-SMA period M/A I can see a test of $260.00 after a few drops and relief rally pops. This is a market where a trader must be nimble and follow his/ her rules very close. I know we don’t like to take losses but ask your self when is a $100.00 loos the best trade of the day?

The I path Series S&P 500 VXX Short Term Futures ETN closed yesterday with a Bullish Engulf, without bullish follow-through we don’t have much. Over $26.30 would show fear in the market, and we would look at long VXX trade and adding a few shorts to our portfolio.

😊 Have a great trading day – Rick

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Trade-Ideas

✅ No trade ideas on Fridays. Enjoy your weekend with pie, good friends and family and a cold one. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns).

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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