options trade Archives - Page 118 of 138

Dueling Rumors and Spin

October 9, 2019 by Rick Saddler

Markets gapped lower again Tuesday, attempted to rally again (on Fed Chair Powell’s afternoon statement that he sees the Fed balance sheet expanding again soon), but then sold off hard the last hour of the day, closing near the lows. So, the Dreaded-h pattern is now near breakout in all major indices.

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Overnight, Asian markets were on the red side of flat, but European markets are all strongly in the green. As of 7:30 am, U.S. futures were pointing to a large gap up (about 1%) on overnight reports that China is open to a partial trade deal. (Just bear in mind the market whip on these same rumors the last few days that were always countered with a rumor in the opposite direction…and China has promised a counter move to the most recent U.S. blacklist / Visa sanctions.)

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On today’s economic calendar we see JOLTS at 10am, Oil Inventories at 10:30, Chair Powell speaks again at 11am and the Sept. FOMC minutes come out at 2pm. Also, the Impeachment news cycle will surely keep churning and beware of that Chinese retaliation for the blacklist and putting restrictions on Chinese officials and executive’s travel visas. Finally, Turkey continues to move troops right to the border of Syria. So, news of that situation may also drive markets.

The bottom line remains to be cautious, very quick in your trading time horizon or both. Gaps and whiplash are not good conditions for swing trading. So, be careful chasing one nice (or ugly) candle. However, the downtrend remains in control for now.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short – TSN, LSCC, SYF, LDOS, KLAC, MDT, EL Long – DOCU, UDR, EQR, CYH, KBH, AMH, CX, DHI Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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

Bull Trap Being Sprung?

October 8, 2019 by Rick Saddler

Markets gapped lower Monday but rallied to close the gap and retest the 50sma and downtrend. The bad news for bulls is that all three major indices failed that test (or at least failed to pass it Monday). This leaves all four (SPY, DIA, QQQ, and IWM) in a potential Dreaded-h pattern in the making. So, the downtrend remains in effect and the key technical indicator for Tuesday. In spite of this, Defensive sectors were out of favor all day. Does this put us in a bull trap in progress?

Overnight, Asian and European markets were all in the red. This is probably due to the U.S. blacklisting 28 entities in China (prohibiting them from buying anything made in America). This move was ostensibly made over Human Rights violations, but market analysts suspect it has more to do with adding Trade War pressure (or at least believe that is how China will interpret the move). Adding to the market fears are reports that the UK PM had a testy call with German Chancellor Merkel, making any new Brexit deal “overwhelmingly unlikely.” This, of course, raises the risk of a No Deal Brexit. As of 7:30 am, U.S. futures were also pointing to a significant (0.7%) gap down on the overnight news.

On Tuesday PPI data (8:30 am) may impact markets, as inflation data may help inform FOMC action. Fed Chair Powell will also speak again in the afternoon. It’s worth noting that market expectations of an Oct. Fed rate cut have fallen slightly from >90% last week to 70% Monday.

The bottom line remains to be cautious. It is very hard to swing trade the recent markets successfully until we start getting less “gaps and whiplash” and more “trend and follow-through.” Be careful chasing after one nice (or ugly) candle. However, the downtrend remains in control for now.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short – DD, TSN, QSR, LDOS, HEI, FSLR, WES, LSCC, RDUS Long – DOCU, VZ, EQR, PNW, SO, DUK, ES Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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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Rebound Whipsaw

October 7, 2019 by Rick Saddler

On Friday, the bulls managed to put together the first consecutive up days of the prior two weeks. It was a strong effort with a gap up and morning follow-through. However, mid-day the market went dead for 2.5 hours before bulls stepped back in and rallied the market steadily right into the close. During the process, the SPY, DIA and QQQ all pushed through and closed just above their 50-sma. Of course, the IWM continues to lag and the downtrend of the last couple weeks remains intact across all major indices.

In news over the weekend, the impeachment story continues to dominate US news and violence flaring up at Hong Kong protests dominates the International news. On the calendar, Chair Powell speaks again Monday afternoon. However, Inflation data (Tues. and Thur.), JOLTS (unfilled jobs – Wed.) and the release of Sept. FOMC Minutes (Wed.) may be the key economic drivers of the week. That said, the most important event for the economy itself might be the resumption of US-China Trade talks on Thursday. There are very few major earnings announcements this week as earnings season really kicks off next week.

Overnight, Asian and European markets were in the green. As of 7:30 am, U.S. futures were pointing to a lower open, back down to retest the 50sma.

Friday’s chart action gives a probability of a higher high today. Yet, with a small gap down at the open, the bulls will have to retest the 50sma before they can rally. So, don’t get too bullish too early. Remember the bulls still have a lot of resistance levels to work through and the downtrend (which runs back to mid-September) is still the current market trend.

The bottom line remains to be cautious. It is very hard to swing trade the recent markets successfully until we start getting less “gaps and whiplash” and more “trend and follow-through.” So be careful chasing after one nice (or ugly) candle.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short– TSN, HEI, BLL Long- PHM, AIZ, DUK, ETR, PG, PEP, STX. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

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🎯 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

Rebound Whipsaw

October 4, 2019 by Rick Saddler

Yesterday saw some serious whipsaw, with a 10am free-fall on the extremely poor Non-Mfg. ISM number, followed by an immediate bounce-back. This rebound seems to be built on markets pricing in a 90% chance of further Fed rate cuts in the Oct. FOMC meeting. With that said, the bulls found their footing again late in the day and drove a rally right into the Close. In the process, the SPY and DIA both climbed back above the uptrend (of Lows) line running back into June.

This chart action gives us a high probability of a higher high on Friday. Markets may even try to fill the Thursday Open gap. However, nothing is guaranteed with markets unable to string together two consecutive up days for several weeks now. Needless to say, if we are going higher off yesterday’s strong recovery, the bulls still have A TON of work to do (and levels to work through) to even break the downtrend (of Highs, which runs back to mid-September).

Overnight Asian markets were mixed and European markets are mostly in the green so far. As of 7:30 am, US futures are pointing to a one to two- tenths gap lower.

Today’s economic news includes Durable Goods Orders and Nonfarm Payrolls and Unemployment before the open. These could very well be market-movers as a follow-up to the bad ISM data this week. (Of course, we don’t know if the market will be in a “bad news is bad news” or a “bad news means more helicopter money” mood. This will all be followed by half a dozen Fed speakers (including Chair Powell) during the day. On other fronts, Impeachment, Brexit and the Hong Kong protests (or counter-reaction) will undoubtedly dominate the news.

The bottom line is that it is very hard to swing trade these markets until we start getting less “gaps and whiplash” and more “trend and follow-through.” So be careful chasing after one nice (or ugly) candle. Remember that Friday is payday. So, be sure to book some profits in front of an unpredictable weekend of news.

Sorry there are no trade ideas today. We wish you a fantastic weekend.

✅ SMS text alerts and reminders?👈

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🎯 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

Below Significant Support

October 3, 2019 by Rick Saddler

The market (SPY), Yesterday October 2^nd the sellers were able to bring the SPY down through significant support closing below our Dotted Duece (200FWL). The 200-FWL is where the SPY found support (buyers) rallied back in August 6.6% to challenge the July top. If tomorrow’s unemployment numbers are reasonable, we could see money flowing again in the marker. As for yesterday’s candle, we may see an oversold bounce, but ultimately the 200-SMA on the daily chart is the next target which will be the August lows. More weakness from the 200-SMA the sellers would have their eyes on the January lows or about $273.50

T-Line and T-Line Channels, The weekly chart price action has now brokedown through all the of the bullish trending T-Line Bands, more weakness below the Bands would require a more powerful reversal signal/pattern to be an essential reason for an optimistic outlook. On a side note, the T2122 chart has the T-Line deep into the oversold area on both the daily and weekly charts. The VXX chart is turning quite bullish after the consolidation on and above the T-Line Bands. Yesterday’s gap woke a ton of traders up! Take a look at you 4-hour chart with the bands…they have reversed to point upward. Be ready for anything.

The bottom line, With the market trending down and getting near the daily 200-SMA, we want to protect our short trades with stops or even taking a few profits. At the same time, we want to start building a bullish watchlist in case the bulls begin to get perky. If you did not catch the recent bearish run be careful not to chase do to ”FOMO” (Fear of missing out), you will get another chance.

Rick

Sorry there are no trade ideas today. We wish you a fantastic weekend.

✅ 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

Bearish Oreo Cookie

October 2, 2019 by Rick Saddler

The market (SPY), Another lower low, Bearish Engulf, and a Bearish Oreo Cookie pattern. Yesterday was a particularly bad day for the market. The pre-market futures this morning don’t seem to be finished pushing the market either. As we have been posting, below $297.95 was the line that the bulls needed to capture, below $297.95 was chop and dangerous place to be buying to my longs, and closing below $293. 70 was going to bring in a bear storm. Right now I don’t see too much from stopping the bears sell us off to the $ 290.00, $288.80 area. We had bought some VXX yesterday with a possible move offer the $25.00 Line (so far so good. Over the $25,00 line, we possibly could see $26.40, which would be a SWEET PROFIT. And possible challenge the $28.00 range.

T-Line and T-Line Channels, Another day below the T-Line Bands (Channels), and a lower low. The August price action makes for a smooth trend line drawn. Looking at the premarket action price is already below the line, the bears (sellers) are a bit hangry. The VXX chart us pushing up through the T-Line Bands like butter and now have established a little support over the bands.

The bottom line, We should never rule out a monster bullish reversal on any given day, but until it happens the closing candle today and the recent candles (price action) can lead us to $288.80 then possibly the August lows. Managing your portfolio is far more critical than finding new hot trades to trade. Here is a good quote I heard years ago…”Don’t eat like a bird and poop like an elephant.

Rick

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short– TSN, RPM, COST Long- SBH, FIT, HOME- 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

Price Below T-Bands

October 1, 2019 by Rick Saddler

The market (SPY), Yesterday was a Doji / Harami day in the SPY closing below our bullish number of $297.95 and above our bearish number of $293.69. The 34-EMA still is above the 50-SMA, and price action is hovering around both. On the hourly chart, price is in bed with the duces (200-SMA and the Dotted Deuces), the 34-EMA and 50-SMA has kept price pushed down. Price simply needs to be above $297.95

T-Line and T-Line Channels, Price action on the daily chart has fallen below the T-Line and the T-Line Channels. If the Price action gets below the $293.70 line, we should see the T-Line Channels start to lean a little to the downside. The weekly chart has price action between the two upper channels on a bullish pullback; I say bullish because the withdrawal is above the 38% retracement of the August low and September high run and above the 293.70 support line.

The bottom line, Below $297.50 and above $293.70 is just a tug a war between the buyers and sellers, think of it as one significant indecision Doji. The winner will show it’s colors soon. This flat trading can be challenging to navigate; I personally think the key is not to over trade.

Rick

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. HOME, DOCU, WHR, PHM, SSNC, JBL, CLDR, SNX, HIIQ 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

Above $297.95

September 30, 2019 by Rick Saddler

The market (SPY), Above $297.95 today may open the gate for more buying to challenge the $300.00 level and above. The low Friday ($293.69) started to test the August, May and September 2018 support level and found the 50-SMA, the question now will the buyers be able to build a game here? Both the daily and weekly charts of the SPY show no signs of buyer Friday.

The weekly trend from June 7, to mid-August, extended still paints a bullish trend. Now if you take in the top from June you will see a double top. The chart pattern building is a weekly Ascending Triangle. IMPORTANT, if the SPY closes below the 50-SMA the bears may have cut the legs off the buyers. Beware if VXX can show strength above $25.40

The bottom line, stay calm and remember you do not have to trade every day. Cash is a position. We have bought very little over the last few trading days, but we have managed what we own and have close a few for profits. I have personally found by waiting for the reversal pattern (Bullish or Bearish) then trade the trend after that is pretty profitable.

Rick

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. DNR, CYH, XEC, PRGO, FIT, STT, NTNX, WHR, SU. 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

Indecision, Follow-Through Needed

September 27, 2019 by Rick Saddler

The market (SPY), Wednesday’s, lower low Harami (indecision), then Tuesday’s little Hammer with a higher low indicates buyers looking, but no real commitment. On a 2-day chart, you can see the Spinning Top Doji (indecision) shows the bulls require a little help to keep price action above the support line but without a higher high the lower high.

If the SPY can get above $298.75, it’s possible; we see buyers step in and challenge the recent highs. But let’s not get to carried away just yet, so far this week the sellers have been able to push the buyers back, and there is still not a confirmed bottom from the recent 5 bars that the sellers have control.

The bottom line, This is Friday, and the futures are up premarket this morning, below $298.75 sellers have control of the SPY. Our dark chart has not given the bullish bottoming signal that we are looking for, above $298.75 would be a great start, remember that number must hold today.

Rick

Ya baby it’s Friday! For Hit and Run Candlesticks, Friday’s are more about profit-taking and getting ready for the weekend. There are no watch-list updates on Fridays. We wish you a fantastic weekend.

✅ 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

Nice Day in Down Trend

September 26, 2019 by Rick Saddler

US Markets held support and bounced nicely on Wednesday, but did give up a little of their gains late. However, we must recognize that no reversal candle signals were printed by the indices and at best we had Harami (indecision) in the SPY and DIA.

This leaves us with nothing more than a nice white candle in a downtrend, but at support at this point. Not a very clear picture by any measure.

Today’s economic news includes Q2 GDP at 8:30 am and Aug. Pending Home Sales at 10 am. We will also hear from the lone FOMC dissenter who wanted more of a rate cut (Bullard) as well as a few other Fed members speaking.

As of 7:30 am, US futures are pointing to small gains, falling in line with Asian and European markets (which were all green overnight). The big boys (Dow and S&P) are pointing to a 0.25% and the NASDAQ a 0.15% gap higher. This will put us close to retesting the downtrend.

The bottom line is we might expect a higher-high off follow-through from Wed. action and global gains. However, that downtrend has not been broken yet. Caution and avoiding the whip are the smart plays.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Long: PRGO, EXC, GT, NUS, DOW, OLN, ETR, CRCM, GPRE, HOME, CM. Short: IPG, YUM, QSR, BLL. 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