Optimism Reigns Again Pre-Market

The bulls ran wild Monday with a 4% gap up and follow-through to the upside.  This was impressive, even in the face of oil down hard on the postponement of an OPEC+ summit to discuss oil production cuts.  The market move breaks us out of a J-hook pattern, giving us now a low, high, high-low and higher-high.  So, we have a bullish trend now.  On the day, the SPY closed up 6.76%, the DIA up 7.45%, and the QQQ up 7.20%.  The VXX closed down as you’d expect now at 42.21 and as mentioned Oil (WTI) was back down to $26.37/barrel.  The 10-year bond yield rose to 0.673% on the day.

It seemed clear that markets are looking to the future, discussing recovery strategies and easing timetables, even though new cases and deaths continue to mount.  The same is true in Oil markets as the buzz Monday was not the postponement of a summit and name-calling, but the “fact” that the Saudis and Russians are “near” an agreement on production cuts to drive up oil prices.

In virus-economic news, BA closed its last remaining (South Carolina) commercial jet production facility on Monday.  AMZN also announced it is tracking warehouse workers and may fire them if they violate company social distancing rules.  Meanwhile, Former Fed Chair Janet Yellen spoke out during the day. In a CNBC interview, she said that a V-shaped recovery is still possible, but she is worried that will not be the case.  Specific issues related to high levels of debt (both consumer and small business), and rolling increases of acidity are more likely to cause the recovery to have “fits and stalls” rather than get back to pre-shutdown efficiency like flipping a switch back to the “on” position.

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The global headline virus numbers have now reached 1,359,398 confirmed cases and 75,945 deaths.  In Russia, the reported daily new case number rose 1,000 for the first time.  In Spain, the daily death toll rose 17% above the number of the previous day.  In the UK, PM Johnson was moved to intensive care after his Sunday hospital admission.  One of his cabinet members has also entered self-isolation. 

Meanwhile, in the US we now have 368,449 confirmed infections and just under 11,000 deaths.  In good news, there are signs that the infection growth rate is starting to flatten.  In fact, the mean model is now calling for “only” 81,000 deaths (versus 100,000-200,000 prior estimates).  However, for now, US death rates are still exponential, but there are some signs of peaking in early states (New York in particular).

Overnight, Asian markets were strongly green across most the board (the exception being a red Australia).  In Europe, markets are also strongly green across the board at this point in their day.  As of 7:45 am, US futures are pointing to another 2-3% gap higher at the open.

The only major economic news for Tuesday is Feb. JOLTS (10 am).  Again, there are no major earnings on the day.

Markets seem to have really latched on to optimism. We finally have a bullish trend in place on the daily chart. So, while we can expect much more bad virus and economic news, a lot of bad news is already “baked in” to markets.  So, it may well be time to be getting back involved in the market. Still, we have to assume there will continue to be a lot of gaps and volatility.  Remember, not to chase, not to predict turns, and to plan and manage your trades.

Ed

Swing Trade Ideas for your watchlist and consideration: CGC, XRAY, HALO, CLDR, FSLR, TMUS, NWL, CROX, NTAP. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Bulls See Reason For Optimism

March Payroll numbers far below even much-lowered expectations (and having been measured several weeks ago, in mid-March) offset an incredible oil rally Friday to leave indecisive Bearish Harami Spinning Top candles across all 3 major indices. On the day, the SPY closed down 1.54%, the DIA down 1.57%, and the QQQ down 1.42%.  As mentioned, oil (WTI) rallied 14% to close at $28.80/barrel.  The 10-year bond yield also closed down to 0.611%. Interestingly, even going into the weekend the VXX was down again to 45.44.

The President’s Friday meeting with US Oil company execs failed to make progress. The companies oppose production cuts and the President took no action on the matter (options discussed previously). US supply cuts were a prerequisite for Russian/Saudi agreement to the deal the President implied he had brokered (a 10-15mil barrels/day cut in Russian/Saudi oil production).  So, Friday’s failure led to more name-calling over the weekend.  As a result, the planned Monday OPEC+ conference has now been postponed until “maybe Thursday.”  After two days of MASSIVE price gains the end of last week (32% overall), oil is likely to fall hard again Monday on the loss of recently renewed hope.  This story will continue to develop as Russia and the Saudis are trying to enlist G20 members to pressure the US to cut oil production as well. 

Over the weekend, the President also started backing away from his April 30 date for the easing of anti-virus measures.  He again floated Easter for some easing as he once more started repeating the business mantra “the cure cannot be worse than the disease.”  However, the President also said this week and next will be bad, with a lot of deaths, just one day before he said we are seeing light at the end of the tunnel.  There was also a heated argument Sunday in the President's Task Force with a non-member, non-expert (Navarro) demanding that restrictions be eased and the malaria drug be touted despite no data proving its effectiveness. Dr. Fauci apparently did not back down. So, to say the messaging coming from the White house is mixed is an understatement.

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The world has now surpassed 1.25 million diagnosed cases of COVID-19.  The global headline virus numbers have now reached 1,285,261 confirmed cases and 70,356 deaths.  In the UK, PM Johnson was admitted to hospital “for tests” after his diagnosis with COVID-19 last week.  In Asia, Singapore quarantined 20,000 foreign workers in two dormitories amid a new uptick in cases. Japan announced a massive economic stimulus worth 20% of their normal GDP, while at the same time PM Abe prepares to declare a state of emergency for larger cities. However, the growth rate in Spain and Italy continues to flatten.

Meanwhile, in the US we now have 337,933 confirmed infections and 9,648 deaths.  Perhaps just an oddity, but at least one Tiger in a NYC Zoo has tested positive as of Sunday, with other large cats showing symptoms.  This raises the specter of either the virus evolving or human-animal transmission also being a risk. However, the news is not all bad as the growth rate in new cases has slowed in New York.

Overnight, Asian markets were green across the board.  In Europe, markets are also strongly green across the board at this point in their day.  As of 7:30 am, US futures are pointing to a large gap higher at the open (about 4%).

There are no major economic news or earnings reports for Monday. 

Markets seem to want to latch on to optimism. A slow in the new case and death rates in Europe and the first signs of the same in some parts of the US may let bulls run again. However, expect economic news cycles to continue to be terrible for a long time to come.  The impact on quarterly numbers is also likely to drag on for two more reporting cycles.  As we’ve said, a lot of bad news is already “baked in” to markets.  Either way, we have to assume there will continue to be a lot of gaps and volatility.  We need to continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Swing Trade Ideas for your watchlist and consideration: MO, MXIM, MDLZ, BMY, INTC, MSFT, LLY, CAT, CSCO, XOM. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Futures Lower Waiting on March Payroll

Oil prices surged Wednesday night (on word that China was filling its strategic oil reserve, meaning higher demand), which had futures up almost 2.5% in early morning hours.  This was then offset by a worse than even worst-case scenario estimate of the unemployment claims number, which came in at 6.65mil. claims.  So, markets opened down slightly Thursday.  However, after a roller-coaster morning, President Trump claimed (unsubstantiated) that he had brokered a deal between Russia and Saudi Arabia. In that supposed deal, the two had agreed to cut production by 10-15mil barrels/day) helped the bulls run late.  As a result, markets closed higher with the SPY up 2.35%, the DIA up 2.22%, and the QQQ up 2.03%.  All three major indices printed bullish engulfing signals on the day.  The VXX fell to 47.36, while Oil (WTI) shot up to $25.01/barrel and the 10-year bond yield fell to 0.624%.

It is worth noting that a Kremlin Spokesman denied that Russia had agreed to any oil production cuts.  Saudi Arabia also told Bloomberg it had not agreed to production cuts unless done in conjunction with cuts by every major oil producer, including the US.  In addition, while President Trump plans to meet with US Oil Producer and Refining Execs today, there are ongoing internal White House arguments over ideas like restricting US Oil exports, implementing tariffs on foreign oil, asking US producers to cut output, letting US producers store their oil in the US Strategic Reserve locations and plain old bailouts for US oil companies.

Related to unemployment, it was reported Thursday that the New York, California, Illinois, Ohio, and Texas state unemployment funds are on the verge of insolvency due to the surge in new claims.  There has not been time for a federal response to this problem. The White House also adjusted the relief check timelines as Treasury Sec. Mnuchin said the first direct deposit payments to individuals will start in 2 weeks (about 60 million people).  However, according to an IRS analysis sent to Congress Thursday, any person needing a paper check (about 100 million), will have to wait. The IRS will begin to cut checks during the week of May 4 and the report said it could take up to 20 weeks to get all the paper checks cut and mailed.  Mnuchin disputed this timeline, but that is what was reported to Congress. Obviously these issues could impact the economy as the stimulus will be quick for some, still far out for many and possibly delayed for an unknown amount if state funds did become insolvent.

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Sec. Mnuchin also said the small business lending program (which turns into grants if enough employees are retained) will be up and running Today.  However, JPM said publicly Thursday afternoon (and other lenders confirmed to CNBC off the record) that they will not be ready to accept applications Friday as they had not gotten guidance on what the process will be from the Treasury Dept.  Regardless, that would only be a delay of a few days, worst case.

During the day Thursday, the world surpassed 1 million diagnosed cases of COVID-19, having doubled the number in one week.  The global headline virus numbers have now reached 1,030,1937 confirmed cases and 54,198 deaths.  In Asia, a second wave is taking shape.  Thailand, Malaysia, and Indonesia also reported new outbreaks.  A smaller increase in Singapore caused the response to shut schools and businesses.  Meanwhile, South Korea also had a small uptick in cases. 

In the US, we now have 245, 280 confirmed infections and 6.095 deaths.  (Twice as many cases as any other country, but China's data is very suspect and India isn't even testing broadly.) In terms of impact, new states are implementing stay-at-home orders (TN) and others are extending the existing orders for another month (OH).  Still, 10 states still have none in place.  It’s clear many remain ignorant or are not taking the virus seriously.  For example, Georgia’s Governor claimed he only learned Thursday that the virus could be spread by asymptomatic carriers. In addition, in a stunning lack of wisdom, many bible belt states are refusing to issue stay-at-home orders or have exempted church gatherings, including “mega-churches.”

Overnight, Asian markets were mixed, but mostly in the red.  In Europe, markets are also red across the board at this point in their day.  As of 7:30 am, US futures are pointing to a gap lower at the open, but the March Employment numbers could take that either way at 8:30 am.

Friday’s major economic news includes Mar. Avg. Hourly Earnings, Mar. Non-farm Payrolls, and Mar. Unemployment Rate (all at 8:30 am), Mar. Services PMI (9:45 am), and ISM Non-Mfg. PMI (10 am).  The only major earnings on the day will be STZ before the open.

We should expect news cycles about the US and most of the world to continue to be terrible for at least another 30 days.  The impact on quarterly numbers is also likely to drag on for two more reporting cycles.  However, as we’ve said, a lot of bad news is already “baked in” to markets.  Either way, there isn’t a lot of reason to take on new risk ahead of a long weekend news cycle.  We need to continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

No Trade Ideas for Friday. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Futures Up Ahead of Jobless Claims

The first day of the quarter was an ugly one for markets as a 3.8% gap down open led to a wide-range day with a close toward the low of the candles.  The SPY closed down 4.50%, the DIA down 4.49%, and the QQQ down 4.25%.  The VXX was up, closing at 50.22 while Oil (WTI) closed up to $21.20/barrel and the 10-year bond yield was down to 0.602%.  All three major indices look like Dreaded “h” patterns in progress.

During the day, more states finally woke up to reality as Florida, Georgia, and Pennsylvania all issued stay-at-home orders.  On the D.C. front, lawmakers and the President are now starting to talk about another (4th) virus-relief bill.  Speaker Pelosi said she wants to move ahead quickly focusing on infrastructure and state government bailout.  For his part, the President has also said he wants a $2 Trillion infrastructure spending bill, but also repeatedly mentioned expanding Corporate deductions to stimulate restaurants and entertainment jobs during the daily presser.  These efforts may be difficult as Congressional Republicans have recently blocked infrastructure legislation 3 times due to cost concerns and these ideas would add huge cost and also reduce the tax revenue.

In the daily presser, Dr. Fauci (NIH) said social distancing measures won’t be able to be relaxed until we reach the far tail of the infection curve.  He specifically said we could look at easing when we have essentially no new cases and deaths and also have robust testing and isolation systems in place.  He did not specifically address timelines, but his remarks certainly did not seem to fall in-line with an easing on May 1.

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The global headline virus numbers continue to climb and will top a million today with current numbers at 951,901 confirmed cases and 48,284 deaths.  Meanwhile, the US now has 216,722 confirmed infections and 5,137 deaths as we continue to outpace the rest of the world in new cases (undoubtedly to our recently increased testing). 

In economic news, BA will reportedly offer early retirement and buyouts as soon as today.  The CEO said it will take years to get the BA Balance Sheet back in shape.  The President is also scheduled to meet with Oil execs on Friday.  At the daily presser, he said repeatedly that Russia and Saudi Arabia ought to easily reach a deal soon (just his hunch because he thinks the deal is obvious).  He also said he “thinks he knows how” to save the US Oil industry in the face of mounting bankruptcies and unworkable business models at $20/barrel oil.  No specifics were given, but any answer would likely include a lot of government money.

Overnight, Asian markets were mixed, but mostly higher on news of China will start stockpiling oil.  In Europe, markets are also green across the board at this point in their day.  As of 7:30 am, US futures are pointing to a gap higher at the open, ahead of the Jobless Claims numbers.

Thursday’s major economic news includes Imports/Exports, Feb. Trade Balance, and Initial Jobless Claims (all at 8:30 am), as well as Feb. Factory Orders (10 am).  The only major earnings on the day will be KMX and WBA both before the open.

We should expect news cycles about the US and most of the world to continue to be terrible for at least another 30 days.  The impact on quarterly numbers is also likely to drag on for two more reporting cycles.  However, as we’ve said, a lot of bad news is already “baked in” to markets.

So, while it MIGHT be time to slowly start looking for setups to enter again, it is not time to get aggressive.  Expect erratic trading to continue and size any positions you take correctly for the risk being taken. As always, don’t try to predict reversals, don’t chase runners, and wait for the trades to come to you.  We need to continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Swing Trade Ideas for your watchlist and consideration: TMUS, INCY, VRSK, CHRW, AKAM, NUE, PCAR, CVS, MO. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Back to Gaps and Fear

In a very up-down day on Tuesday, markets closed on a down, ending the day near the lows.  The quarter-end buying (fund rebalancing) that some had predicted never seemed to materialize during the day.  As a result, the indices failed recent high resistance to end the worst quarter in market history.  For the day the SPY closed down 1.49%, the DIA down 1.73%, and QQQ down 0.85%.  Technically speaking, all three major indices printed Bearish Harami signals, but not inside days.  As for Oil (WTI) after a large gap higher (on Chinese economic data), traders sold the rip all day with it closing down at $20.16/barrel.  The 10-year bond yield was down as well, closing at 0.668%.

After the close, the President told the daily presser ”we’re going to have a hell of a bad two weeks...maybe three weeks”  Then Dr. Fauci (NIH) said they still project between 100,000 and 200,000 American deaths (but a slide presented showed the upper number as 240,000).  Still, it could be much worse as even simple modeling shows that 330 million people times just a 10% infection rate times a 1% death rate (of infected) would be 330,000 deaths.  And, unfortunately, the US doesn’t have the massive per-capita testing, strict quarantines, or strong social compliance of other nations (at least yet) to rely on to keep infection rates below 10%.  So, as the President is now acknowledging, the news for at least the next several weeks is going to be very bad.  What he can’t tell us is how much of that is already baked-into markets.

In related news, during the day the President tried to get in front of the next bailout bill as he called for $2 Trillion in infrastructure spending.  In addition, Democratic Senators began pressuring Treasury Sec. Mnuchin to ensure the proper oversight of the $500 billion bailout fund approved last week.  (When he signed the bill, the President wrote a note saying he won’t allow the fund Inspector General to report to Congress on fund decisions without his express permission.  Nobody can read minds, but his adding such a note certainly implies there needs to be concern about fund administration.)

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The global headline virus numbers continue to grow exponentially, now at 875,445 confirmed cases and 43,459 deaths.  Meanwhile, the US now has 189,633 confirmed infections and 4,081 deaths.  One indication of the situation is that the state of CA says it will release 3,500 prisoners early due to the virus.

Overnight, Asian markets were deep in the red, despite private date on China PMI showing a modest expansion (above estimates) in growth, which more or less confirmed yesterday’s official data.  In Europe, markets are also strongly on the red side at this point in their day.  As of 7:45 am, after another choppy overnight session, the US futures are pointing to a large gap down at the open.

Wednesday’s major economic news includes ADP Nonfarm Employment (8:15 am), Mar. Mfg. PMI (9:45 am), Mar. ISM Mfg. PMI (10 am), and Crude Oil Inventories (10:30 am).  The only major earnings on the day will be PVH after the close.

We should expect news cycles about the US and most of the world to continue to be terrible for at least another 30 days.  The impact on quarterly numbers is also likely to drag on for two more reporting cycles.  However, as we’ve said, a lot of bad news is already “baked in” to markets.

So, while it MIGHT be time to slowly start looking for setups to enter again, it is not time to get aggressive.  Expect erratic trading to continue and size any positions you take correctly for the risk being taken. As always, don’t try to predict reversals, don’t chase runners, and wait for the trades to come to you.  We need to continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Sorry, but no Swing Trade Ideas due to extreme market volatility. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

China Recovery Looking V-Shaped

The bulls put in a very nice day’s work Monday, resuming the rebound as they closed markets near the highs after following through on the gap up open.  As a result, the SPY closed up 3.21%, the DIA up 3.06%, and the QQQ up 3.64%.  JNJ, MSFT, FB, AMZN, and GOOG led the way while BA acted like an anchor.  However, Oil (WTI) took another 6% beating as it traded below $20 and closed at $20.20/barrel.  The 10-year bond yield also closed down to 0.72%.

During the day, Moody’s cut their outlook on $6.6 Trillion of US Corporate debt from “stable” to “negative” as it predicts the US has entered a recession.  Goldman Sachs also gave markets some bad news as it announced a survey that finds that over 25% of planned 2020 stock buybacks have now been scrapped by companies.  In addition,  V (Visa) lowered its outlook a second time this month, saying consumer spending has declined sharply.

In employment news, St. Louis Fed President James Bullard told CNBC that his economists are now estimating that unemployment could reach 32% as a result of the virus.  However, he also said he expects the massive loss of jobs to be short-term (months).  An online survey of 250 companies also found that 49% were considering layoffs as March 26.  However, NY Governor Cuomo made a nationwide appeal for medical personnel to come to his state as existing personnel are already overworked and the peak in cases is still to come the next couple weeks.  CA Governor Newsom made a similar plea, announcing they are trying to hire thousands of new health care workers.  Both of the Governors said they would temporarily waive licensing requirements and even offer free malpractice Insurance.

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In virus treatment news, F and GE announced that they plan to produce 50,000 ventilators per month. However, this will not be until after early July.  Richard Branson’s rocket company also joined this effort but did not offer details on its own ramp-up plans.  In terms of lock-downs, more states issued “stay at home” orders including both Virginia (through June 10) and Maryland.  The San Francisco Bay Area also extended its “shelter in place” order through May 1st.

The global headline virus numbers continue to grow exponentially, now at 799,723 confirmed cases and 38,720 deaths.  Meanwhile, the US remains the epicenter and now has 164,359 confirmed infections and 3,173 deaths.  Still, not all the virus news is bad, as the growth rate of cases in NY has slightly slowed for the first time. China also announced its PMI reading was 52.0 for March, indicating they are starting to see some economic expansion again.  For reference, the Feb. PMI was a record low 35.7, so this indicates a V-shape.

Overnight, Asian markets were mixed but mostly green on the China data.  In Europe, markets are following Asia, hoping for their own V-shaped recovery. The major European bourses are all green, with the exception of France at least at this point in their day.  As of 7:30 am, after another choppy overnight session, the US futures are pointing to a mixed, mostly flat, but slightly red open. However, Oil (WTI) prices did make a major rebound overnight on the China data.

Tuesday’s major economic news includes Mar. Chicago PMI (9:45 am) and Mar. Conf. Bd. Consumer Confidence (10 am).  Major earnings are limited to CAG and MKC before the open.

While it looks like the bulls are back in “only see the positive” mode the last week, it is still a very volatile and uneven market.  We should expect news cycles about the US (and most of the world) are going to continue to be terrible for at least another 30 days.  The impact on quarterly numbers is also likely to drag on for two more reporting cycles.  However, as we’ve said, a lot of bad news is already “baked in” to markets.

So, it might be time to slowly start looking for setups to enter again.  However, expect erratic trading to continue and size any positions you take correctly for the risk being taken. As always, don’t try to predict reversals, don’t chase runners, and wait for the trades to come to you.  We need to continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Swing Trade Ideas for your watchlist and consideration: VIAC, FMC, NXPI, AVGO, NLFX, QCOM, V, ALGN, DHR, WDAY, C, HON. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Shutdown Extended But Stimulus On Way

With hopes of the stimulus bill in place, markets still gapped down Friday. However, bulls stepped in and rallied back up near the previous close.  After the bill was passed, things went fine until 3:30 pm when markets sold off hard across the board as traders seemed to want to get flat for the weekend. As a result, the SPY closed down 3.02%, the DIA down 3.87%, and the QQQ down 3.44%. The VXX was back up to 50.60, while the 10-year bond yield fell again to 0.69% and Oil (WTI) fell to $21.57/barrel).  For the week, SPY was up 10.71%, DIA up 12.74%, and QQQ up 8.55%.

Friday evening, the President signed the stimulus bill. At first, he called it a $2.2 Trillion bill as widely publicized.  However, he then clarified it was really a $6.2 Trillion plan (expandable based on need apparently).  This is in addition to the $4 Trillion the Fed has (so far) pumped into asset purchases.   On Saturday, Treasury Sec. Mnuchin said the small-business loans part of the bill will be “up” this week and that stimulus checks will start being direct-deposited within 3 weeks.  If these times hold true, both would be unprecedented timetables for government programs.  Sec. Mnuchin also told CBS news that the Treasury Dept. was ready to buy warrants and equity stakes in US companies if needed.  Others speculated the Fed may also do this, but that would require the approval of Congress to widen the Fed mandate.

On Sunday evening, the President extended the US Social Distancing guidelines through at least April 30.  So, the “American ReOpening” will be pushed out at least 3 more weeks beyond his original Easter date.  Credit where it’s due, if he sticks to this latest stance, that will be more in-line with the recommendations of contagion-spread experts and what we have seen in other countries so far.  Earlier Sunday, the President had also decided not to quarantine virus hot spots.  Instead “travel advisories” have been put in place with the hope the public will follow them.  This may be problematic as Americans continue to meet in large groups such as the mega-churches where hundreds gathered Sunday.

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More ominously, on Sunday Dr. Fauci (NIH) said that “looking at what we’re seeing now, we’re looking at 100,000 to 200,000 deaths in the US.” However, he was also quick to say that number is a moving target that could easily be wrong either way and he did not want to be held to any estimate.  This number of deaths would be 50 times the number of deaths we had at the time of the comment.  If correct (and he is the top infectious disease expert), we probably should expect a much slower economic recovery than some had forecast.

The global headline virus numbers continue to grow exponentially, now at 735,200 confirmed cases and 34,808 deaths.  On Sunday, the UK told its public to expect their lock-down to last months, not weeks.  Meanwhile, the number of US cases has risen 67% since Friday morning.  The US now has 142,793 confirmed infections and 2,490 deaths.

Overnight, Asian markets were mixed, but mostly well into the red.  In Europe, markets are red across the board, but not down as heavily as they were Friday at least at this point in their day.  As of 7:30 am, after another wild overnight session, the futures are pointing to mixed to slightly green open. It's worth noting that Oil (WTI) dipped below $20/barrel overnight on very weak demand.

The only major economic news on Monday is Feb. Pending Home Sales (10 am).  There are no major earnings on the day.

Again, markets remain very volatile and news cycles are going to be generally terrible, punctuated with occasional (probably false) hope.  However, bulls may well latch onto even thin hope.  So, expect erratic trading to continue.  In short, as I’ve said many times, this is not a casual trader’s market.  The goal now should be account preservation and preparation for when things have settled down.  Don’t try to predict price action.   Just wait for trades to come to you.  For now, continue to either be very fast (day trade), very slow (long-term holds) or just wait.  Holding any trades overnight is a risky business in this market.

Ed

Sorry, but due to extreme volatility there are no Trade Ideas for today. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Stimulus Expected as US is Now Epicenter

Armageddon seemed to be already priced into the market as the bulls absorbed a New Jobless Claims number 5-times the all-time record and still gapped higher with follow through the rest of the day.  This included a massive rally for the last 10 minutes.  As a result, the SPY closed up 5.84%, the DIA up 6.14%, and the QQQ up 5.27%.  This was the third consecutive up day for a total gain of 17% in the SPY, almost 21% in the DIA, and 12.5% in the QQQ. Technically, this takes us out of a Bear Market.

Speaker Pelosi said she expects the stimulus bill to pass the House by around noon Friday.  Minority Leader McCarthy echoed the same expectation.  In the daily briefing, President Trump explained he hadn’t needed to invoke the Defense Production Act due to companies switching production on their own, although some states and cities will disagree that has been enough.  He also said that the US has done more testing than any other country.  Without knowing the true numbers out of China, this is likely true.  However, we did get a very late start and it is also true that as of Thursday, the US had tested 1 of every 780 people, while South Korea has tested 1 of every 150 of their people.  So, we still have a way to go to get near where we need to be, but the trend is encouraging.

In business news, after the close GM announced it would be extending North American plant shutdowns, without defining a specific restart date (the previous date was April 1).  This fell in line with what Ford had done a few hours earlier.  GM also temporarily cut the pay of 69,000 salaried workers by 20%.  Toyota also announced it will keep its North American plants close, but issued a tentative restart date of April 20.

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The President announced that his folks are working on guidelines and methods for the next phase of the fight (after the re-Opening of America). This system will categorize every county in the US according to their perceived risk. Social Distancing and quarantine guidelines will be different for each category of county. The massive nationwide testing regime was not mentioned, but would almost certainly be needed for such a plan. He did mention that easing and the new guidelines will be accompanied by mass surveillance, but any such system would likely not be wide-spread enough for the entire country. So, this system would depend heavily on public compliance, self-discipline, and self-limiting of domestic (intra-county) travel. No mention was made, but presumably like the rest of the world, some type of enforcement will be required to isolate people in risky counties from the less-risky counties.

The global headline virus numbers continue to grow exponentially, now at 549,300 confirmed cases and 24,871 deaths.  China is closing its borders again, as some experts are saying they may be seeing a second wave starting. The UK, PM tests positive and is experiencing mild symptoms.  Meanwhile, the US has now become the epicenter of the virus (the most cases), with 85,749 confirmed infections and 1,304 deaths. 

Overnight, Asian markets were mixed, but mostly green.  In Europe, markets are red across the board, down heavily in the major bourses.  As of 7:45 am, the futures are pointing to a 3% gap down.

Major economic news on Friday is limited Feb. Core PCE and Feb. Personal Spending (both at 8:30 am) and Mar. Michigan Consumer Sentiment (10 am).  There are no major earnings on the day.

Again, markets remain very volatile.  Remember that even three days of massive rally do not make a recovery yet.  Don’t try to predict price action here.  Wait for trades to come to you.  We still have no uptrend on the daily level.  For now, continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Sorry, but due to extreme volatility there are no Trade Ideas for today. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Record Jobless Numbers Today

Wednesday was another roller-coaster for markets.  We got a gap higher on the follow-through on Tuesday’s huge rally.  However, that was me with a severe selloff and then a big intraday rally on hope of a Senate deal.  After some grind sideways, the bottom fell out the last 15 minutes of the day as 4 Republican Senators (Lynsey Graham, Tim Scott, Ben Sasse, and Rick Scott) pushed to cut unemployment funding in the bill and Bernie Sanders threatened to hold it up if they did not drop their demands.  On the day, the SPY gained 1.50%, the DIA 2.62%, and the QQQ lost 0.74%.  Meanwhile, the VXX rose to 50.90 as 10-year bond yields fell to 0.837% and Oil (WTI) fell to $24.10/barrel.

The Senate passed the stimulus deal late last night after getting all the Senators in line.  Beyond that hassle, the House may be an even bigger hurdle.  If a single congressman of either party objects, the bill will have to go to debate, potential amendment and a roll-call vote in the House.  Unfortunately, some congressmen are threatening just that as this situation gives them a lot of leverage.  And even before the bill passes or is signed, many Governors (both parties) are already saying they will need more than this bill will deliver.  Gov. Hogan (MD – Rep.) who heads the National Governors Association said: “states and local governments will need to come back for more than this bill provides in the next round of stimulus.”  So, once this passes, don't expect it to be the last dollars out of Washington on this crisis.

In the daily briefing, Sec. Mnuchin said the $2.2 Trillion stimulus package would keep the economy afloat for 3 months.  He also said some people could start to see the $1,200/ adult and $500/child payments in as little as 3 weeks (if they have direct deposit info on file with the IRS).  However, for others, it could take as long as 3 months if checks need to be cut and mailed.  Both those time periods fall in-line with what happened in 2001 and 2008. So, they sound believable.

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The global headline virus numbers continue to grow exponentially, now at 487,050 confirmed cases and 22,025 deaths.  Meanwhile, in the US, totals are up to 68,581 cases and 1,036 deaths.  Hospitals in New York are already beginning to be overwhelmed by patients and supplies of PPE (masks, gloves, and gowns) have been exhausted despite federal help, donations, and large increases in production. In addition, Dr. Fauci (NIH) told Americans to prepare for a second wave after this one is weathered. 

Overnight, Asian markets in the red again.  Japan gave up 4.5% of its big gains from the prior 2 days.  In Europe, markets are also in the red, down about 2% across the board so far today.  As of 7:30 am, the futures are down as well, but range between down 1% (DOD and S&P) and half a percent (NASDAQ).

Major economic news on Thursday is headlined by the Initial Jobless Claims (8:30 am), which is expected to be the largest in history by a long shot.  Estimates range from 1 million to 4 million new claims, but the consensus is 1.5 million.  We also get Q4 GDP and Feb Trade Balance (both at 8:30 am), but these will be after-thoughts to the Jobless Claims.  The only major earnings of note is LULU after the close.

Even with over $6 Trillion in stimulus coming from the Fed and now Congress, don't think we are out of the woods yet.  A ton of bad headlines still lie ahead.  (For example, don't think the Jobless Number this week will end up being the worst.) However, it is also likely that when the latest relief bill is, the bulls may latch onto this news and run. 

Again, markets remain very volatile.  This is not a casual trader's market. Don’t try to predict price action here.  Sit on your hands if you have to in order to keep from trading.  Use this downtime to get your list of tickers ready.  Get some education, refine your trading plans, and improve your trading process.  Then wait for trades to come to you.  We still have no uptrend on the daily level.  For now, continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Sorry, but due to extreme volatility there are no Trade Ideas for today. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

$2 Trillion Deal Struck Expect More Later

Turn-around Tuesday was an amazing job done by bulls, as the rest of the world led the US to a huge gap up on hopes of a massive Federal rescue bill.  Markets followed-through even when news came that there was no agreement and the Senate had adjourned for the day.  On the day the SPY was up 9.26%, the DIA up 11.19% and the QQQ up 7.82%.  This was the best day for bulls since 1933.  As you’d expect, the VXX was down to 46.77.  Oil (WTI) closed up $23.88 and the 10yr bond yield closed up to 0.834%.

Regardless of Tuesday's optimism, the Senate adjourned in the early afternoon without a deal.  However, overnight the sides agreed on a deal on a $2 Trillion stimulus package. Speaker Pelosi and Minority Leader McCarthy are now trying to get their caucuses to support any Senate deal, as-is.  This would be critical to speed because it must pass by unanimous voice consent.  A single objection from any Congressman will require delay while the House returns to Washington for a roll-call vote.  Futures fell on word of the deal.  Regardless of what happens this time, sources told Bloomberg last night that Congress is expecting two more stimulus bills before this is over.  

In the meantime, following a call with major Investors and Hedge Fund managers, the President told Fox News he wants the US to be “open and just raring to go by Easter.”  Reportedly, he has soured on the ideas of quarantining and social distancing because “many Americans are ignoring the suggestions” (per unnamed aides).  On the other side, doctors, infectious disease experts, and even President Trump’s former head of the FDA are saying that we need at least several weeks of lock-down to stem the virus.  Dr. Fauci (NIH) told the daily presser we would need to be flexible and data-driven and after that, the President agreed, seeming to step back from a firm Easter date.

$50.00 discount with code: Privilege

The global headline virus numbers continue to grow exponentially, now at 434,866 confirmed cases and 19,607 deaths.  In Asia, India locked-down its 1.3 billion people for the next 21 days.  Several South American countries have also begun lockdowns.  In Europe, death tolls are up again in Italy and Spain has had to turn ice rinks into temporary morgue storage. However, in positive news out of China, both Wuhan City and Hubei Province had their quarantine lifted after two months on lock-down. 

In the US, totals are up to 54,963 cases and 784 deaths.  New Orleans is the latest major city to order a lock-down as their number of cases exploded and Governor Edwards declared a state of emergency for Louisiana.  The White House also announced that anyone who has traveled from New York should self-quarantine.  In addition, New York Governor Cuomo and NYC Mayor de Blasio both decried a massive shortfall in ventilators as they expect to need 30,000 more of them in the next one to two weeks. 

Overnight, Asian markets are strongly green again on the second day of expectation a US bailout plan passes and pumps up global economies.  Japan was up 8% to make two straight days of massive NIKKEI gains. In Europe, markets are mixed and more muted, though mostly green so far today.  In the US, futures fell on word the stimulus deal was agreed. As of 7:30 am, the futures are mixed, but mostly red with the S&P and NASDAQ pointing to lower opens and the Dow slightly on the green side. 

Major economic news on Wednesday is limited to Feb Core Durable Goods (8:30 am) and Crude Oil Inventories (10:30 am).  However, an agreement on a virus rescue plan will definitely be announced, if not signed during the day.  Major earnings are limited to PAYX before the open and MU after the close.

Don't think we are out of the woods and it's all blue skies ahead. With more “stay a home” orders, company closures, and bad economic data coming, there are a ton of bad headlines we will need to ride out.  In particular, we should be wary of Thursday’s Initial Jobless Claims that are expected to be the largest in history by a wide margin.  However, it is also extremely likely the latest relief bill will be signed, more Fed steps will come and more stimulus bills will too. 

So, markets remain very erratic and there is no reason to think that will stop.  Remember, you don’t have to pick the absolute bottom to make a bundle on the rebound.  So, use this downtime to get your list of tickers ready.  Get some education, refine your trading plans, and improve your trading process.  Then wait for trades to come to you.  We still have no uptrend on the daily level.  For now, continue to either be very fast (day trade), very slow (long-term holds) or just wait.

Ed

Sorry, but due to extreme volatility there are no Trade Ideas for today. Trade smart, take profits along the way and trade your plan. Also, don't forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

|607% in just 24 months |

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.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

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