options trade Archives - Page 117 of 138

Earnings Driving the Bus

October 23, 2019 by Rick Saddler

The market seemed hesitant Wednesday with a gap down in the SPY and QQQ met by a rally back to flat and ending a bit bullish on the day. Meanwhile, the DIA and IWM formed DOJI just on the green side of flat. This leaves us with indecision on the day. The hope is that the DIA is forming a bottom of a pullback in a bull trend. However, the IWM looks very toppy with 3 Doji at resistance and neither the SPY or QQQ look very strong.

As expected, earnings continue to be the leading story, with misses by CAT, BA, LLY, and TXN leading the narrative Wednesday. However, as a whole, earnings continue to be good. The earnings flood will continue Thursday with perhaps the heaviest day of the season among S&P members.

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On the Trade War front, China said they will buy $20bil in US grain within a year AFTER the Phase 1 trade deal is signed. This would raise the Chinese US grain purchases in 2020 back near the level they were in 2017 before the President’s Trade War. However, that number has been declining since they bought $25bil in 2014.

Related to Brexit, it appears the EU has agreed they will give the UK an extension. Most of the 27 other countries agree it should be an extension until the end of January. However, France is holding out for an extension of just a few days. Sources tell the European press that the EU will now stall as long as they can to avoid an internal fight and to see what PM Johnson can get passed on his side of the English Channel. So, no firm decisions in sight yet.

Thursday’s major economic news includes September Durable Goods (8:30 am) and New Home Sales (10 am). Also, in Germany the economic downturn continues with their Exports down, slower manufacturing output and Industrial Employment dropping the most in almost 10 years. (Germany is the biggest economy in Europe by far.) However, as I said, US earnings are likely to drive markets again today. Among that flood were a massive beat by TSLA after the close yesterday and a pre-market miss by TWTR.

Overnight, Asian markets were generally positive, but European markets are strongly green at this point. As of 7:30 am, U.S. futures were all pointing to gaps higher varying across the major indices. The QQQ is looking at a 0.7% gap, the DIA 0.3% and the SPY only 0.2%.

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Remember to be careful chasing. If earnings remain strong, this should be a bullish market. However, in recent months trading has been very news-driven. So, be sure to use caution, take profits along the way and trade your plans.

For Your Consideration: These trade ideas for your swing-trading consideration. Long – JBHT, LEN, BF.B, HOME, PNC, IFF, WHR, PKG, GLNG. Short – DRI, HEI, WEC, ZBH, UHS, GD. Trade smart, take profits along the way and trade your trade. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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✅ Check out our newest YouTube videos👈

🎯 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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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

Attack on All-Time Highs?

October 22, 2019 by Rick Saddler

Monday saw a strong gap up in the SPY, QQQ and especially IWM. (DIA did not get the memo.) After that gap, the SPY and QQQ had a nice day, but the DIA just treaded water and the IWM may have printed a Shooting Star candle (subject to confirmation). In supporting roles, the Transports (IYT) and Semiconductors (SMH) also both put in very strong candles. As a result, the uptrend remains intact. It looks as if the Bulls want to at least test those all-time highs again.

Earnings season will really be the focus for the remainder of the week. In fact, there are too many major reporters to list individually today. However, suffice it to say we’ll see more industrials and Consumer names this week. The only economic news on the day will be a Fed speaker (Bowman).

Overnight, Asian markets were up, but European markets are mixed at this point. As of 7:30 am, U.S. futures were flat to slightly green across the major indices. It looks like PG is going to gap up and HAS to gap down on earnings this morning.

If earnings remain strong, this should stay a bullish market. (Assuming no unexpected bad news, of course.) However, in recent months trading has been very volatile and “whippy.” So, be sure to use caution, take profits along the way and trade your plans.

For Your Consideration: These trade ideas for your swing-trading consideration. Long – AAPL, KLAC, MCHP, CM, ABBV, HES, NRG, JBL, TPR, WU, GME Short – LSCC, LDOS, SBUX, CME, BLL, MYL, MDT, HEI . Trade smart, take profits along the way and trade your trade. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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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Earnings Kick Into High Gear

October 21, 2019 by Rick Saddler

Friday saw a gap down, followed by indecisive, but generally bearish trading. This came in the face of more strong earnings reports (earnings were very strong all week). The major exceptions to the indecision were JNJ, BA, and NFLX which got hammered on nasty news items or post-earnings blues. The offsets of good earnings, bad news for big names and the wait for an expected Brexit Deal resolution drove a “wait and see” attitude among traders. However, the negative day did break the recent uptrend, at least in the DIA and QQQ.

Despite expectation, on Saturday the Brits kicked the can down the road again. Parliament approved an amendment to the “new Brexit deal” bill, which meant that passing the actual deal would only mean actual approval AFTER all the nitty-gritty detail bills are also passed. So, the PM canceled any vote on the deal itself. This left him legally required to ask for another extension from the EU. Instead, the PM sent an “unsigned letter” requesting an extension, along with a second “signed letter” asking that no extension be granted. (A Court will decide Monday whether that means the PM is in Contempt of Court for the disingenuous extension request.) Either way, the EU is now planning to stall on a reply in hope that PM Johnson can get the deal approved before they reply. This all leaves more indecision for markets.

Other weekend news of note is that a Goldman-Sachs banker was arrested for insider trading and on the plus side, Chinese Vice Premier Liu said there had been substantial progress in the US-China Trade Talks.

Monday’s economic calendar is basically empty, with a light week overall. However, earnings are in full swing with many reports. Among these are HAL before the open and CDNS, CE, and ZION after the close.

Overnight, Asian markets were mixed, but European markets are in the green at this point. As of 7:30 am, U.S. futures were all pointing to 0.30% gap higher across the major indices.

For Your Consideration: These trade ideas for your swing-trading consideration. Long – DE, DG, NKE, BBY, CM, NRG, WU Shirt – BHGE, DD, SBUX, VRSK, WEC, FIS, ACN. Trade smart, take profits along the way and trade your trade. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

Earnings Are Good So Far

October 18, 2019 by Rick Saddler

Thursday started with another gap as strong Earnings and news of a new Brexit deal lead the way. However, then range-trading took over for the rest of the day. We ended up printing some form of a black spinning top in the DIA, SPY, and QQQ. However, the IWM conspicuously went its own way, printing a strong large-body candle after its gap up. In the end, we have to say this has been a strong start to Earnings Season so far (week 1) and the market has liked it.

As I said, a Brexit deal was reached on Thursday. However, to get this deal, PM Johnson agreed to Northern Ireland remaining in the EU for customs and some VAT purposes and to “no block veto,” which had been part of the Good Friday Agreement. As a result, this will cost him support in Parliament. The UK press is now reporting that Johnson does not have the votes to get the new deal through Parliament by Saturday at this point. In Syria, Turkey agreed to a ceasefire so that the Kurds can retreat. This essentially gives Turkey everything they wanted from the invasion. Both of these stories reduce market risks and, as such, are “risk on” factors for stock markets.

Last night, China reported a 6% growth for the third quarter, which is its slowest growth since the 1990s. However, Friday’s US economic calendar is very light with the exception of 5 Fed members speaking during the day. On the earnings front, AMD, AXP, CFG, KO, KSU, SLB, STT and SYF all report before the open. (KO already reported a beat.)

Overnight, Asian and European markets were mixed. As of 7:30 am, U.S. futures were all pointing to flat open for the major indices.

Remember to be careful chasing. Yes we are getting Rick-on indications from the news (yesterday anyway) and the short-term uptrend remains in place. However, this has not been a deliberately-trading market. Gaps and whiplash don’t make for a good swing trading environment. So, caution remains the prudent approach.

For Your Consideration: No Trade ideas on Friday. With 2.5 days of news risk in front of us…and no ability to respond, taking profits and hedging is in order. Trade smart, take profits along the way and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

Brexit and Earnings

October 17, 2019 by Rick Saddler

On Brexit, overnight the UK and EU reached a new deal. However, it was reached using a political move, removing the ability of the DUP party (Northern Ireland) to have consent. So, regardless of the headline (assuming the 27 EU leaders agree), there is extreme doubt over whether this deal has any chance of passing the UK Parliament Saturday. This leaves another extension request still the highest probability.

In other International news, China tensions may be on the rise again. China has said it will need tariff relief in order to do the additional Ag purchases President Trump claimed as progress last week. Congress passed a bill condemning the Chinese for the Hong Kong situation. Of course, China immediately condemned Congress’ condemnation. In the HK Parliament, rebels shouted down the PM’s annual speech. And overnight China arrested two Americans.

Wednesday was another blah day with a gap down open met by a trading range that filled the gap and came back a few times the rest of the day. In the end, we printed a Doji Harami in the SPY, DIA and QQQ. Mixed earnings, an unexpected Retail Sales miss and a Fed speaker (Evans) saying “we don’t need any more rate cuts this year” may have left markets confused and waiting for the next headline.

Overnight, Asian markets were mixed. European markets are all green, with the FTSE jumping a massive 11% at this point on Brexit hopes. As of 7:30 am, U.S. futures were all pointing to open higher (about 0.30% in the SPY and DIA and 0.65% in the QQQ).

Thursday’s economic calendar includes Sept. Building Permits (8:30 am), Philly Fed Mfg. Index (8:30 am) and a couple of Fed speakers in the afternoon. However, once again Earnings will likely have more impact with BBT, DOV, GPC, HON, KEY, MTB, MS, PPG, PM, SNA, STI, and UNP before the open. (MS already reported a major beat this morning.)

While the short-term uptrend remains in place and there was some good news overnight, this has not been a deliberately-trading market. Gaps and whiplash do not make for a good swing trading environment. So, be careful chasing and as always trade your plan.

For Your Consideration: Trade ideas for your swing trading watchlist. Long – GME, PPL, GLNG, BF.B, LW, EQR, DLTR, DG, DOCU, NKE, INFO, WU – Short – PPC, SBAC, FSLR, TSN, SHAK, BHGE, HAL. Trade smart, take profits along the way and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

Earnings Rev Up the Bulls

October 16, 2019 by Rick Saddler

Tuesday was a strong day from the start on the back of good earnings reports from major banks. However, after a solid gap and run at the Open, the Bulls seemed to hit a wall about 11 am. The rest of the day was a grind sideways with the close at the low end of the 11 am 15min candle. This action left us with a Bullish Trader’s Best Friend signal (albeit less than optimal with an upper wick). It certainly appears that the Bulls want to at least retest the all-time highs again.

In International news, there was European fear on news of stalled Brexit negotiations. This comes less than 24hr after optimism for a new deal. However, nothing will be sure until Thursday night (EU Leader dinner where a new Brexit deal will be debated). Even then, it is unsure if any new deal could be passed by the UK Parliament in its emergency Saturday session.

Overnight, Asian markets were mixed, but mostly higher. European markets are also mixed. As of 7:30 am, U.S. futures were all pointing to mostly flat open, looking for a gap down of only 0.10%.

Today’s economic calendar includes Retail Sales (8:30 am) and Oil Inventories (10:30 am). However, once again earnings are likely to drive action with ABT, BAC, PNC and USB reporting before the open. (BAC already reported, posting higher the expected results.) CSX, CCI, IBM, KMI, NFLX and URO report after the Wed. Close.

Remember to be careful chasing gaps. The downtrend has been broken, but this market remains very volatile and looking for the next news items on which to over-react.

For Your Consideration: Trade ideas for your swing trading watchlist. Short – EL, SHAK, LDOS, SBUX, YUM – Long – JBL, AMAT, MPC, DLTR, KBH, INFO, DE, LEN, SYY, KLAC Trade smart, take profits along the way and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

Earnings Season Kicks Off

October 15, 2019 by Rick Saddler

Monday was a blah day in markets as traders seemed to wait on the next news. Regardless of the cause, all four major indices put in indecisive Doji candles just South of Friday’s close. This was done on VERY light volume. Perhaps traders are waiting on the earnings season that kicks off today.

Overnight, the US applied sanctions on Turkey in a belated attempt to avoid looking like we abandoned the Kurds. However, Turkey is such a small trading partner that I doubt this impacts markets. Today’s economic calendar only the Empire State Manufacturing Index and a handful of Fed speakers. Neither is likely to drive markets unless there is a major surprise. What very well may drive markets are earnings as we hear from C, GS, JPM, WFC, BLK, JNJ, UNH (among others) all before the Open and UAL and JBHT after the close.

Asian and European markets were both mixed overnight. However, as of 7:30 am, US futures are pointing toward a gap up of 0.40%.

Remember to be careful picking bottoms or chasing gaps. As Rick says, a profit trader’s job is to take their bites out of the middle of the sandwich. Leave the crusts for knife-catchers and Top-pickers who won’t be around long. So, be careful until the recent tendency toward “gaps and whiplash” has worked itself out.

For Your Consideration: Trade ideas for your swing trading watchlist. Short: SHAK, SBAC, SBUX, LDOS, SMPL, PG, YUM – Long: DOCU, HCP, SYY, MPC, AIV, LEN, BF.B, NWL Trade smart, take profits along the way and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

No Deal But No Escalation

October 14, 2019 by Rick Saddler

Markets gapped strongly and the bulls ran hard most of the day Friday on the hope of a US-China Trade Deal. However, at day end, markets crashed back down to Open levels when it became clear there was no deal (not even a partial deal), just handshake and political spin. (Nothing was put on paper and none of the major points were even discussed.)

So, what we really got Friday was an agreement to talk more and not escalate the trade war until we do talk again. While President Trump is claiming success (and that China is starting to buy US Ag products, which was true before the meeting began), the Chinese statements say nothing of any deal, just that some progress was begun).

The post-announcement market crash left US indices looking a lot like Shooting Star candles at the top of the recent pull-up. However, the good news is that the indices did break the recent downtrends. Monday’s economic calendar is empty and Earnings Season does not kick off until Tuesday.

Overnight, Japan was closed, China was green and European markets are all in the red two-thirds of a percent. As of 7:30 am, U.S. futures were all pointing to 3/10^th of a percent gap down (apparently either following Europe lower or continuing the “No Deal Crash” late Friday).

The bottom line remains that it is very hard to swing trade in the recent markets successfully. Until we start getting fewer “gaps and whiplash” and more “trend and follow-through” be very cautious. Day or Position trading look much more attractive in this sort of volatile and choppy market. So lock in profit whenever you can. Do not confuse one candle as trading wisdom…or a new trend.

For Your Consideration: Trade ideas for your swing trading watchlist. Short – CME, MO, RDUS, LDOS, SBUX, SMPL, SHAK, HEI Long – HCP, ES, EQR, AMH, MPC, SYY, AIV, LEN, GRMN Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

Hoping for a Trade Deal

October 11, 2019 by Rick Saddler

Markets had a strong day Thursday, almost exclusively on “hope” of a partial trade deal between the US and China. The indices closed up two-thirds of a percent, right at the 50sma in the SPY and DIA. Still, both the SPY and IWM both failed the downtrend line and that trend remains intact in all (arguably) indices except the QQQ (which broke through on Thursday).

Friday’s economic calendar includes the Michigan Consumer Sentiment survey at 10 am. However, given all the focus for months on the Trade War, the big market mover will be the rumors, announcements, and spin placed on the meeting between President Trump and the Chinese Vice Premier. Also keep an eye on Oil markets as Iran claims one of their tankers in the Red Sea was struck by 2 missles last night. The only earnings of note is for FAST before the bell.

Overnight, Asian and European markets were up strongly (apparently also on Trump’s tweet that trade negotiations were going “very, very well”). And as of 7:30 am, U.S. futures are all pointing to a large gap higher (about 1.25% across the board) on that optimism for a Friday trade deal.

The bottom line remains that it is very hard to swing trade in the recent markets successfully. Day or Position trading look much better in this sort of volatile and choppy market. Until we start getting less “gaps and whiplash” and more “trend and follow-through” be very cautious. Do not confuse one candle as trading wisdom…or a new trend. That all said, downtrend remains in control for now.

For Your Consideration: No trade ideas for Friday. Remember to lock-in profits while you can, and hedge your risks for the weekend when you can’t react to news and rumors. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching

Waiting on an Elusive Deal

October 10, 2019 by Rick Saddler

Markets gapped higher Wednesday on anonymous reports the Chinese are open to a partial trade deal – grain purchases for tariff suspension. While the gap was impressive, the day ended as nothing but a Doji (indecisive), if up almost 1% on the S&P and QQQ. So, the downtrend remains in place and taken together, the last two days are just more of the sideways chop at the level of the large gap down Open Tuesday.

On today’s economic calendar we see Consumer Inflation at 8:30am. However, the big news is the resumption of US-China Trade talks. Unfortunately, overnight the Chinese media was reporting “trade talks have made no progress” and “high-level talks will only last one day” (instead of two as was planned).

Overnight, Asian and European markets were all mixed (on dueling rumors and expectations about the now-shortened trade meeting). And as of 7:30 am, U.S. futures were all pointing to a small open lower (about 0.2 – 0.3%) on the overnight news of trade deal failings.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short – FSLR, WES, LSCC, LDOS, RDUS, KLAC, EL Long – DOCU, CX, EQR, SYY, AMH, ES, COST, CYH Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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 Plans • Private 2-Hour Coaching