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#FuturesTrades July 27th Friday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
No Trades	+241.80	+1930.30
$0	$24,180	$193,030

Profit Targets Only

794.40 - 792.10

No Trades Today

click on image to view actual size

Current Performance Record

Current WRB S/R Zone(s)

Profit/Loss Statement

General Chat Room/Log Info: The above points along with profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Also, #FuturesTrades is free to any trader and I am the only trader in #FuturesTrades that represents TheStrategyLab.com

My main function in #FuturesTrades is to be the moderator and I use the chat room as more eyes on the markets to help prevent missing critical market info that have impact on my trades.

#FuturesTrades is not a signal calling chat room and all users are required to post at least one trade (real money or simulator) per day of use or participate in the market discussions.

Lurking (not participating) in #FuturesTrades will not allow you to reach your trading goals nor will it answer your questions that you need answered to help with your trading. Therefore, it's to your benefit to participate in #FuturesTrades especially if your a struggling trader or a trader not reaching your profit goals.

General Strategy Info: Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis, market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, trade signal and seasonal tendencies.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets in the world.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Fri Jul 27 06:38:51 2007Session Ident: #futurestrades

* Now talking in #futurestrades 06:38

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

* Awash_break is now known as Awash 09:06

* subq market profile charts for today 09:19

http://www.charthub.com/images/2007/07/2 7/er2_rth_mp.png

http://www.charthub.com/images/2007/07/2 7/es_rth_mp.png 09:20

http://www.charthub.com/images/2007/07/2 7/nq_rth_mp.png

http://www.charthub.com/images/2007/07/2 7/ym_rth_mp.png

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 09:22

<NihabaAshi> I won't be around until early afternoon.

Will be heading out the door around 0945am est.

Talk to all later and do not share the password with anyone even if its someone you saw in here before. 09:23

* NihabaAshi is now known as NihabaAshi_away

<jperl> 1 yr ER2 chart here..... 09:25

http://charts.dacharts.com/2007-07-27/JP ERL_011.jpg

price action is below the VWAP and PVP.....

only saving grace is that the VWAP > PVP so market is skewed to the long side 09:26

<Brutus> respectively. Exporters were also hurt when the yen rose to a three-month high against the dollar, diminishing overseas earnings. Refiners took a beating as well after Exxon Mobil (XOM) reported its steepest decline in five years... AROUND ASIA: Indexes in Taiwan, South Korea, Singapore, Thailand and Indonesia all fell more than 3%, while China was the only nation not to succumb to the pressure, the benchmark was virtuall 09:27

Source: Fly on the wall

<PapaJon> gm all 09:30

<base> GM all 09:31

Trading Edge:
Strategies
If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management with a money back guaranteed policy...click here.

Trading Strategies -> These strategies, from entry to exit, will exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments via WRB Analysis: Emini Index Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<Awash> good morning all

* sep34_away is now known as sep34

<eminime68> moring

<Brutus> 1000/1400 Jul Reuters/Univ Mich Index, final 91.2 92.4 09:47

07/27/2007 09:45 DJ OIL FUTURES: Nymex Crude Gains; US Economy Grows Most In A Yr

<ItalianSharp> CNBC is showing bush speaking...is that a tape or is it live? 09:54

<jperl> Bush speaking....sell everything

<pdays> Consumer Sent est 91.2 in @ 90.4 10:00

<pat255> gm all

S 87.5 es paper 10:03

no live trades for me @office...:( 10:04

out -1 10:05

<Awash> trend up, visible HL & HH 10:12

<pat255> es almost 20 pts from low 10:14

<Awash> yep

1470 area is a critical Support area 10:15

<pat255> not gonna hold 10:27

<jperl> done for the morning.....trades here.... 10:28

http://charts.dacharts.com/2007-07-27/JP ERL_012.jpg

<Awash> you done already

<jperl> for now

<Awash> nice trades

<jperl> tx

<PapaJon> good job jp 10:29

<jperl> tx

<Brutus> 07/27/2007 10:29 DJ UPDATE: Bush Praises Strong Economy, Strength In US Exports 10:31

It aint working today

<venedom> gm 10:54

how is everyone

<szubaark> good.. 10:56

Nice Volatility 10:57

<Awash> very nice 10:59

<pat255> 13 pt flip on es

<Awash> Shorts ES @ 1487 11:11

Covered 1/2 ES Short @ 1483.50 --> + 3.5 11:15

<Brutus> nice one A 11:16

<Awash> thanks

got a nice fill at the 50% Ret point of 1487.25 area

exit stop lowered ES @ 1486.75 11:17

<venedom> Shorts ER2 @ 790.2 11:22

Covered all ER2 Short @ 789.20 --> + 1

too fast no time to type

<base> Fast money, good money. :) 11:23

<Awash> :) 11:24

Covered all ES Short @ 1483.50 --> + 3.5 11:25

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 11:28

<venedom> lol base

summer friday? 11:29

<base> Looks like, volume has dried out. 11:32

<AusTrader00> guess not.. 11:38

Long ES @ 1478 «« paper »» 11:39

<Awash> Aus trader, you from Australia 11:41

<AusTrader00> Exited 1/2 ES Long @ 1482 --> + 4 11:42

HI.. yep.

<Awash> nice trade

what time is it there?

<AusTrader00> 1:40am

<Awash> geez

<AusTrader00> yess.. lol.

just got up from my nap.

<Awash> at least you had a nap 11:43

<Brutus> Hi AT, I'm in adelaide, which city are you in?

<AusTrader00> Hey.. Brutus... sydney here.

You have many nice trading calls ..... Awash.... seen the logs...... 11:44

Exited Remainder ES Long @ 1749.75 --> + 271.75 11:47

oppps

the other way around....... this would have been nice.

<Brutus> AT give us your background, style, experience etc 11:48

<AusTrader00> Only recently switch from asx equilty to the emini... trading with RSI setup / FIB + Gartley.. 11:50

u?

<Brutus> 1.5 years on emini's more price action volume, some Fib 11:52

Niha had a trader profile section but it seems empty now 11:53

<AusTrader00> what time u normally trade till? 11:54

<Brutus> till the close

<AusTrader00> wow.. so u do this full time....

<Brutus> trying :) 11:55

<AusTrader00> goodluck...

Long ES @ 1474.50 11:56

<Brutus> thx, u 2

<AusTrader00> Long ES @ 1474.50

opps...

Exited 1/4 ES Long @ 1476.50 --> + 2 11:58

Exited Remainder ES Long @ 1474 --> - 0.5 11:59

<Brutus> 10 Year still dropping 4.75 12:07

* Looking up TP9496 user info... 12:09

<venedom> lod in sigh 12:11

<Awash> yep

* NihabaAshi_away is now known as NihabaAshi 12:12

<venedom> missed by 3 t

maybe CIA N?

<NihabaAshi> :)

<venedom> new attemp coming Awash 12:13

<Awash> Venedom, i look at S/R as a zone, not specifically just a price of 1471 12:14

<AusTrader00> s&p siting on 200days MA..

<Awash> so as long as PA trades within that area, it's support to me

<venedom> just an observation 12:15

<Awash> i tried shorting 1496.50 this morning and didn't get it because i was too focused on that price area, that i didn't jump in at 1495.75

<Brutus> Technical Moving Averages 12:16

50-Day 200-Day

S&P 1521 1446

Dow 13585 12733

NASDAQ 2614 2483

<Awash> Aus, is that a simple MA 12:17

<doublejay> hi all

<jperl> ER2 volume distribution is now symmetric..... 12:18

PVP = VWAP = 790.20

If this market is going to turn around....

it better do it now

<Awash> this is a good support level on daily 12:19

good volume rolling in

<Brutus> yep

<Awash> Bullish Engulfing on 5min candle 12:20

<AusTrader00> yep,awash.... 1475.65 MA.

<Awash> k

i have 1447.64 as 200sMA

<Brutus> Got a feeling we will take out the low again early afternoon then rally into the close 12:21

<Awash> will watch

<Brutus> AT the values I posted was SMA

http://bigcharts.marketwatch.com/intchar t/frames/main.asp?time=8&freq=1&compidx= aaaaa:0&comp=NO_SYMBOL_CHOSEN&ma=4&maval =67&uf=0&lf=268435456&lf2=2&lf3=4&type=4 &style=320&size=4&sid=0&o_symb=spx&start date=&enddate=&show=&symb=spx

sheez 6 points looks like nothing on tthese charts 12:23

<Awash> i was just thinking that

it's a big move but it looks like nothing

<Brutus> NQ palying catchup 12:33

<Awash> these Bears are serious about pushing the market down 12:34

they're not letting up 12:35

<Brutus> Going to be about a 100pt swing soon

<venedom> ym?

<Brutus> ES from 1565 12:36

<venedom> u mean from high

I though you were predicting a swing now... lol 12:37

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={ebcee ffc-6d37-44a5-934c-38e68ce68d14} 12:40

<venedom> dow -96 now 12:44

chop time 12:55

<Brutus> I'm looking for a full retacement of this spike, would be better if it goes another leg higher, test/ breaks lows then a good rally to the close

But I see/think the Bigs are accumulating longs at these levels 12:57

<Awash> Long ES @ 1476.75 13:05

<Brutus> 2nd less unlikely scenario is for down close, for more bearish headlines over the weekend, then on Monday morning wash out the lows (for mom and pop) and rally for the rest of the week.

This doesnt help for intra day trading, just a ramble :) 13:06

<AusTrader00> Nice call Awash,,, couldn't see that coming myself.. 13:08

<Awash> exit stop raised ES @ 1477

damn 13:09

Exited all ES Long @ 1477 --> + 0.25

that was quick

every attempt up, sellers come in 13:11

<AusTrader00> bouncing off the trend line.

<venedom> 782-786 13:12

<AusTrader00> I thought it was good for a short call the last long u did :)

<Awash> buyers stepping back in 13:17

i hate chasing 13:18

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 13:34

<Awash> Long ES @ 1481.50 13:43

<Brutus> 2nd test of fib 50

<Awash> Exited all ES Long @ 1480.50 --> - 1

<Brutus> sell the second, buy the third 13:44

<venedom> its going to be an interesting close I expected a short cover soon

<Awash> looks like there's still some selling there 13:45

Long ES @ 1481.50 13:47

last attempt 13:48

<venedom> rus -2.5

<Awash> Exited all ES Long @ 1481.50 --> 0 13:49

<venedom> now it will fly ;(

<Awash> PA, snapped back to my trailing stop 13:50

<venedom> rus -1 13:52

<Awash> breakout confirmed

<venedom> what a move and its friday 13:54

Long ER2 @ 790 13:55

<AusTrader00> Trend channel holding up well. 13:56

<venedom> Exited all ER2 Long @ 791 --> + 1 13:57

<Brutus> no fill on short at 1485 13:58

<venedom> its going there again 13:59

imho

Long ER2 @ 789 14:00

that 1 make me suffer 14:04

<Brutus> The low today and the rally still feel weak, and I would have expected more emotion, therfore I feel there may be some good selling Monday

<szubaark> you definetly have to be quick on the trigger today 14:05

<venedom> Exited all ER2 Long @ 789 --> 0 14:06

so many thing between today and monday bbq summer pool :)

<Brutus> feb 27th was tuesday monday 5th marked a pivotal and market went up about 50 points from there

<venedom> Long ER2 @ 788.8 14:09

these will be my last trade 14:10

<jperl> Well I see ER2 did bounce back to the VWAP @788.90

<base> ER2 has retraced to 50% of its daily range. 14:11

<jperl> That was the expectation when PVP=VWAP.... 14:12

<venedom> Exited all ER2 Long @ 78.2 --> - 710.6

Exited all ER2 Long @ 788.2 --> - 0.6

<jperl> market is symmetric

<venedom> thats better

lol

<base> :) 14:13

<AusTrader00> Hit suppport trend line 14:14

<base> Simple MA20? :) 14:15

The last two hits of the trend line was identical with hits of actually supporting SMA20 curve. 14:19

WRB Analysis

Learn More

<AusTrader00> Broken trendline... 14:23

Just the support trend line.... no MA. 14:24

the trend channel held up pretty well in the past 2 hrs...... 14:25

going south park now.. :) 14:26

<base> Yes, there was a decision area at the 50% daily range. Looks it has decided to go south. Park :) 14:30

<AusTrader00> 1476 resistance hold :P 14:31

maybe not.. here we come.

LOL held up again. 14:32

<base> No matter that I am watching ER2, but we can see pretty the same price action. :)

<jperl> HOld up at 1st stddev 784.35 14:33

<base> It is also fibo line 23.6%. :)

The same for regular vertical trendline and the SMA20 a while ago. Different tools and indicators, the same results. :) 14:34

<AusTrader00> Not using Gartley ? 14:35

can't beat gartley for price action, prediction.

<base> No, I have never heard about Gartley. What is it? 14:36

<Brutus> I have seen Gartly butterfly is that all of it AT 14:37

<AusTrader00> Just a pattern I use for predicting the next movement....... you should read up.... 14:39

yeah butterfly.. real good.

<intowin> short ES @ 1481.25 14:40

<base> AusTrader00: Can you point me somewhere? I will take a look. 14:41

<AusTrader00> http://video.google.com/videoplay?docid= 2544288537800337552&q=gartley+patterns&t otal=5&start=0&num=10&so=0&type=search&p lindex=0 14:42

opps... i think I'm not allow to post other vendor related stuff here ?

<base> I did not konow it is commercial stuff, no problem. Thanks anyway. 14:43

<AusTrader00> yeah..sorry.... 14:44

<intowin> short ES @ 1484.50

add

<base> Hm, I have hoped to take some short position ...

<intowin> exit stop set ES @ 1488.25 14:47

Covered all ES Short @ 1488.25 --> - 3.75 14:54

didnt see that coming

<base> :(

It is Friday, many people was short over the week so we can see the price to go up a bit as they will be closing their positions before the weekend. 14:56

<intowin> looks that way

short ES @ 1485 15:00

<Brutus> 07/27/2007 15:01 DJ OIL FUTURES: Nymex Crude Ends Near Record; Demand Fears Ease 15:03

<GoodMood> why does the price go UP when fears EASE ??? 15:07

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={f3e0b 290-da65-4b61-812b-9fe786dacc06} 15:12

GM read article

Had to reload esignal, it took 40 mins to load the tick data with the volume we are doing 15:13

<venedom> what chart? 15:14

<Brutus> tick charts v for ES 15:15

<venedom> 55 89 100?

your conection must have problems it can not take 40 min

<Brutus> 6s candle

1.5 MB ADSL 15:16

Its the esignal servers and tick data for all emini's

<venedom> do a speed test and ping the esignAl server 15:17

<Brutus> will do it AH's v 15:18

<venedom> :) 15:19

<AusTrader00> Bed time... see you all have a nice weekend.. 15:22

<Brutus> cu 15:23

<GoodMood> thx Brututs

Brutus

<base> AusTrader00: Good night and have a nice weekend.

<Brutus> yw GM 15:25

<venedom> back 4 close lets see 15:27

any one guess the dow close?

under or ovr 13400?

<Awash> what's the ES bid? 15:33

<venedom> dow 15:34

<intowin> 1482.25 I need it to break 1480.50 15:35

<venedom> 1482.5 es

<intowin> there we go 15:37

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 15:40

<intowin> Covered all ES Short @ 1477. --> + 8 15:41

<venedom> n1 15:42

<intowin> thanks

<Brutus> Black Monday threads are going to start :) 15:45

<intowin> I think I will end on that note.. c you guys monday... 15:48

<venedom> cxu guys monday mornig have a greatttttttttt wekend 15:49

* sep34 is now known as sep34_away 16:07

<Brutus> ============ U.S. MARKETS ACTION =========== 16:13

DJIA down 149.97 points to 13324.25

NASDAQ down 27.57 points to 2571.77

S&P 500 down 17.79 points to 1464.78

10-year T-note down 1/32 at 97 25/32 yield 4.796

NYMEX Spot Crude up $2.07 at $77.02/bbl at close

Dollar/Euro down 0.0098 at 1.3641

US STOCKS FALL ON CONTINUED CREDIT WORRIES

As downward momentum continues in the equity markets, investors began to set their sights on next week to get a clearer picture of just how far stocks have to fall. Stock markets had one of their worst days of the year yesterday on tightening credit conditions, weak U.S. housing data and poor results from home builders.

US 2Q GDP RISES 3.4%, SLIGHTLY ABOVE VIEWS 16:14

Gross domestic product rises at a 3.4% annual rate in April through June, resurging from its wintertime fizzle as the drag from the housing sector lessens, businesses builds inventories and exports grow. Inflation gauges are mixed. U.S. revises GDP growth down for 2004-2006.

US CONSUMER SENTIMENT RISES IN JULY

The Reuters/University of Michigan consumer sentiment index moves to 90.4 in July's final estimate, from 92.4 in the preliminary estimate and 85.3 in June. Economists had expected the index to hit 91.3.

Last 45 mins ER down 20 Points and Es down 25 16:15

CUL8r

<NihabaAshi> Hi all...no trading today for me...had a ton of personal stuff to do.

Wow...nice drop in the last 30 mins. 16:17

<Brutus> Very sick market ...

<doublejay> bye, nice weekend 16:23

<base> See you traders 16:30

* sep34_away is now known as sep34 17:21

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 17:43

* DisconnectedSession Close: Fri Jul 27 18:48:49 2007 18:48

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We are proud to say that our chat room members are from the following geographical areas in the world:

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Israel, Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

CME Emini Futures ES, NQ and ER2

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

CME Futures EuroFX EC

Treasury Futures T-Notes ZN, ZF and T-Bonds ZB

Forex Currencies EurUsd, EurYen and UsdCdn

Exchange Traded Funds DIA, IWM, QQQQ, SPY, OIH, XLE and GLD

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

COMEX Metals Gold GC

Hang Seng Index Futures HSI

Last of all, if you have any questions about any of the above commentary, specific trades et cetera...

Don't hesitate to ask your questions and we'll reply back as soon as possible.