Rick’s Featured Trade Ideas

SBUX/Short (Restaurants)  SBUX – I shorted SBUX @ $60.30 yesterday because of the bearish “M” pattern, the close below the T-Line and the blue ice failure.  On the weekly chart, we have a failed high, bearish evening star that has rolled over the T-Line.  Below $57.15 we could see another 8% drop.

SBUX/ Profits through education  Dec 4
Possible entry plan idea:   Sell box $Members Only
Possible stop plan idea:   Cover above $
Risk Reward 11:1 depending on entry/exit/stop

Shorting 100 shares of ISLE you would have $398.00 so far
Member’s trade idea September 28,  (ISLE) Short working 21%
Member’s trade idea September 23, (DYAX) Long working 40%
Member’s trade idea September 30, (MXL) long working 37%

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SPY:  The SPY has broken down through the T-Line™ and pushed lower closing below the 200-day simple moving average at $205.61.  I would not be surprised to see a short-lived relief rally and then another push down to the 50-day simple moving average and possibly the $202.20 area.  The SPY is trying to paint a bearish “M” pattern, the brushstrokes are there, now just depends who has the paintbrush — the Bulls or the Bears.  The overall chart pattern has more weight to the bearish side; therefore, it would make sense to lighten up on your longs, take long profits a little quicker and add a few more short positions.

IWM:  IWM broke down below the T-Line™ and I believe it will likely test the 50- day simple moving average before it closes back above the T-Line™.
SMH:  Yesterday morning I wrote SMH is looking a little toppy.  Yesterday it closed with a bearish engulf; the bears will likely take their piece.
IYT:  Over the past few months I’ve been very critical of the transports, and I believe this vehicle is headed to the junkyard.
S&P VIX Short-Term Futures VXX:  VXX has had two nice bullish days, and we have enjoyed the UVXY trade.  It now appears VXX is nearing resistance and needs a breather.  It is trying to form a bullish pattern and a breakout of the 200-day moving average could set it free.

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. As you know some work and some don’t…Welcome to trading. 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!
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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.