Rick’s Featured Trade Ideas

BITA/Long (Technology)  In the BITA chart, a Bullish scoop pattern was formed in mid-September followed by a couple higher lows, a flag, a bullish piercing candle which all lead to a gap and then Friday closing over the big three creating a (RRB) Rounded Bottom Breakout Pattern.
Education builds confidence for success!
I will be covering more on the Featured Trade Idea (entry, stop, targets) in the trading room at 9:10 AM EDT today.

BITA/ Profits through education  Oct. 5
Possible entry plan idea:   Buy box $ Members only
Possible stop plan idea:   Stop below $
1st Risk Reward 10:1 depending on entry/exit/Stop

This is the place you ought to be!
AEM/ member’s trade idea on OCT 1, up 12 % Friday

SPY:  It looks as if we will see the $196.35 target touched today after the stellar bullish move on Friday.  I think the two obvious goals for the SPY would be the 50-day simple moving average and then the 200-day simple moving average.  Let’s worry about the 50-day simple moving average first.  While Friday was an extraordinarily bullish move, we still have about five points to the 50 SMA and a tremendous amount of resistance along the way.  The 50 SMA is floating around the $200 mark which  has three strong points of resistance plus the 50-day simple moving average.  This will be an important area for the Bulls to win.  Remember that hope is not an indicator and price is the true leader.

As of Friday’s close, I still have no ETF’s that I watch where the T-Line has crossed back up or closed above the 34- exponential moving average.

IWM:  Friday’s Bullish Engulf may be enough for price to reach out to the 20-day simple moving average.
SMH:  The past seven trading days has formed a terrific bullish pattern on the SMH.
IYT:  For any sustained move in the market, IYT needs to close over the 50-day simple moving average.
VXX:  The 34 EMA was the first downside target as we expected.  Watch for a drift down to the mid-21 area.

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!
Members Trade Ideas below

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.