Rick’s Featured Trade Ideas

RTK/Long (Basic Materials)  RTK has successfully printed a double bottom leading with a Bullish Engulf that rallied above the T-Line and the 20-day simple moving average pulling back for three bars and finding price support plus moving average support.  Yesterday’s bullish Harami may want to run to the 34 EMA gate.  This chart strategy is a Hit & Run Candlestick classic (The Pinball Setup) and has consolidated for about 11 days and formed a bullish morning star signal on Friday.  Leading up to the consolidation, it was a very organized and strong T-Line™ run.

RTK/ Profits through education  Dec 15
Possible entry plan idea:   Buy box $Members Only
Possible stop plan idea:   Close below $2.80
Risk Reward 6:1 depending on entry/exit/stop

100 short shares of FPRX would have netted you $1081.00
Member’s trade idea October 23,  (FRPX) Short working $1081.00
Member’s trade idea September 30, NVDA Long working $870.00
Member’s trade idea September 15, (MUSA) long working $995.00
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In Hit & Run Candlesticks profit-taking fashion, we closed out and profited on SBUX and GPN, and we are on our way to cash before tomorrow’s FED party. My plan is to be as close to cash as possible before Janet starts dancing.

SPY:   The sellers continue to paint a bearish “M” pattern, and while the sellers printed a new low yesterday, the buyers came in and created a hammer on the daily chart.  The 30-minute chart printed a two-bar pole with the flag PBO that did, in fact, break out by the end of the day.  The price action is suggesting that price wants to run up and maybe test the T-Line™ and possibly the 50-day simple moving average.  Unless the Feds do something tomorrow that the market likes, we could see a test of yesterday’s low.  If price can manage to close over $204.30, there would be a high probability that price will take on the T-Line™, and with a close over the T-Line™, the bullish swing traders may start to get interested.

IWM:  Other than being oversold, there are no signs of bullishness. Expecting a real relief rally today.
SMH:  Perhaps SMH found a little support, a close over the T-Line™ and the 20- day simple moving average would be a bullish sign.
IYT:  Oversold bullish rally likely.
S&P VIX Short-Term Futures VXX:  Profit taking pull back.
This Week’s Economic Calendar—> Click Here

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts.  Please follow your trading rules for entry stops and profits. Remember to check for earnings!
Symbols from TC2000

Keep your eye on the inverse ETF’s They trade well!
To see all of today’s trade ideas Click Here
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control.  A close below the T-Line ™ implies the bearish short-term swing traders are in control.

Energy Sector: XLE, SX90, ERX, USO  A close above the T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.

SMH: A close above the  T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.

IYT: A close above the  T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.

US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.  Learn more about the T-Line – Click Here

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.