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#FuturesTrades November 7th Wednesday 2007 Trade Log

 

Russell 2000 Emini ER2 Futures

Today Month Year
+14.60 +128.10 +3206.00
$1,460 $12,810 $320,600

Profitable Trade

1444pm - 11446pm est

Losing Trade

1313pm - 1317pm est

click on image to view actual size

 

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

 

General Strategy Info: The above 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. 

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.

  There is some subjectivity involved with some of my trades when I'm developing a new strategy (hence the name TheStrategyLab.com) that uses 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 (ex. Oil and Gold), 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, pattern signal, seasonal tendencies or intuition.

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 so that I'll have a better understanding of ER2 price action. 

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: Wed Nov 07 07:22:24 2007Session Ident: #futurestrades
* Now talking in #futurestrades07:22
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<Nesi> good morning07:26
<marrt> morning07:44
<Nesi> morning
<X>  #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)07:58
<werner> gm all08:16
<Nesi> hi werner08:19
Long ER2 @ 800 -> small size «« testing »» 08:21
Exited 1/3 ER2 Long @ 801 --> + 1 «« testing »»
just getting used to posting trades
sell stop to enter short ER2 @ 800 «« testing »» 08:22
<werner> hi nesi08:24

i am working on posting trades :)08:25
<Nesi> do you have the script?08:26
<werner> yes
<Nesi> it takes practice to post it quikly
<werner> indd08:27

Nonfarm Productivity q/q (p)08:30
<teresa>  took my ES off before I went to bed ta 1520 and 1518 for +4 and +608:34
<werner>  Long YM @ 794.40 «« testing »» 08:38

mmm

Long ER2 @ 794.40 «« testing »»
<Nesi> very good.. werner
<werner> :)08:39
<marrt> do the scripted trades go into the log file?
<Nesi> hmm..no idea

but u can see it in the website

http://www.thestrategylab.com/110507Futu resTrades.htm08:40

the log is there
<werner> http://thestrategylab.com/forum/index.ph p?topic=32.0
<marrt> oh it logs the whole chat08:41

not just the trades?
<Nesi> i dont know about that08:42
but u can see all trades in that log tho
<werner>  Exited all ER2 Long @ 793.50 --> - 0.9 «« testing »» 08:43

its working
<Nesi> yup08:44
<werner> i am more a ym scalp trader,so i think my trades are to fast to post them,but i am woking on too stay longer in a trade so i can post it08:46

Shorts YM @ 543 08:50
<Nesi> is that for real?
<werner> yes

mmm not a good start i think08:55

Covered all YM Short @ 544 --> - 1 09:02
* subq market profile levels for today - http://www.charthub.com/chart/author/DA0 D7987572D7FBE3C7226C93DD52A09:17
<marrt> what application are those marketprofile charts generated by?09:22
<Dmi76> gm all09:28
<szubaark> Was there a News related event in Dax that caused that Drop?09:29
<NihabaAshi> Isn't ChartHub.com for those market profile charts connected to a specific futures broker ???
<Nesi>  good trading all
<Brutus> check market watch szu09:30
<werner> dito nesi
<NihabaAshi>  Long ER2 @ 794.90 -> large size 09:31
darn chop showed up :(09:34
<Nesi>  Long ER2 @ 795 «« paper »»
<pdays>  Covered all ER2 Short @ 798.1 --> + 0.7 09:35
from yesterday
<les>  Long ER2 @ 794.4 09:36
<NihabaAshi>  Exited all ER2 Long @ 794.70 --> - 0.2
<Nesi>  Exited ER2 Long @ 794.30 --> - 0.7 «« paper »» 09:37

Reverse and Enter Short ER2 @ 794.30 «« paper »»
<NihabaAshi> too choppy for me
<les> same here

Exited all ER2 Long @ 794.6 --> + 0.2
<szubaark>  Shorts ES @ 1510.25 «« paper »»
<NihabaAshi> Will retry again if volatility shows up09:38

It's flatlined right now
<les>  Long ER2 @ 794.7 09:39
<NihabaAshi> Gold and Oil dropping now

Looks like that s/r zone is like being stuck in quicksand.09:41

You pull away a little and it sucks you back in.
<jperl> ER2 yesterday's VWAP = 793.4709:42
<Nesi> if i am right..i am waiting at 792.3

i will stop at 79509:43
<les>  Exited all ER2 Long @ 793.7 --> - 1 09:44
<szubaark>  Covered all Short ES at 1512.25 --> - 2 «« paper »»
<Nesi>  Covered all ER2 Short @ 795 --> - 0.7 «« paper »»
<NihabaAshi>  Long ER2 @ 795.10 -> large size
* Stowe covered some ym 13625 +15,+13,+11 last night from yesterday’s 13640 to 13636 shorts09:46
covered more ym 13600 +38,+37 last night from yesterday’s 13638 to 13637 shorts
covered more ym 13550 +93,+99 this morning from yesterday’s 13643 to 13649 shorts
covered remaining ym 13540 to 13520 +115,+114,+143,+148,+152,+159,+168 this morning from yesterday’s 13653 to 13678 shorts09:47
<NihabaAshi>  Long ER2 @ 794.80 -> Add 09:48
<Brutus> Good trade
<Stowe> ty brut
<les>  Long ER2 @ 795.4 09:49
<NihabaAshi> :(
<Brutus> did you expect a big ON move?
<Nesi> pac man zone..imo
<jperl> anybody lose IB?
<Stowe> well...i pulled my covers when i only got three filled at 625
<Nesi>  Long ER2 @ 795.30 «« paper »» 09:50
<szubaark> fine here jp
<jperl> ok just came back...was out for about 30 secs
<Nesi> if jumps.. i am waiting at 797.40
<Stowe> but at 600 i thought i'd get some more...but after watching bloomberg last night i decided to hold the rest
<NihabaAshi>  Exited 1/3 ER2 Long @ 796.40 --> + 1.6 09:51
<szubaark>  Shorts ES @ 1511.75 «« paper »» 09:52
<Nesi>  Long ER2 @ 794.80 -> Add «« paper »» 09:55

2 c
<NihabaAshi> chop city or erratic price action09:56
<szubaark>  Covered 1/2 Short ES at 1509.75 --> + 2 «« paper »»

exit stop moved to breakeven ES @ 1511.75 «« paper »»
<Nesi> jumparola
<szubaark> Nice Volatility spike to downside09:57
<eminitrader>  Long ES @ 1509.50
<X>  #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)09:58
* Stowe long ym 1355409:59
adds to long ym 13557
<Nesi>  Long ER2 @ 794.30 -> Add «« paper »»
<Brutus> 1000/1500 Sep Wholesale Trade
Inventories +0.3% +0.1%
<Nesi> 3 total
* Stowe adds to long ym 13560
<Brutus> 1030/1530 Nov 2 US Energy Dept Oil Inventories10:00

Crude Oil Stocks (in barrels) -3.9M

Gasoline Stocks (in barrels) -1.3M

Distillate Stocks (in barrels) +800K

1300/1800 Fed Gov Warsh speaks in New York

1310/1810 Atlanta Fed Pres Lockhart speaks on the economic outlook in

Huntsville, Ala.

1315/1815 St Louis Fed Pres Poole speaks on 'market healing' in

Milwaukee, Wisc.

1500/2000 Sep Consumer Credit, in dollars
* Stowe adds to long ym 13555
<Brutus>  Consumer Credit Outstanding 7.9B 12.2B
* Stowe adds to long ym 1356210:01
<Nesi> pressure to the upside..now..imo
<eminitrader>  Exited 1/3 ES Long @ 1511.50 --> + 2
* Stowe adds to long ym 13567
<szubaark>  Covered all Short ES at 1511.75 --> 0 «« paper »»
nice emini
* Stowe adds to long ym 1356410:02
<eminitrader> thx szu
* Stowe adds to long ym 13556
<NihabaAshi> I got lots of support but ER2 not cooperating...10:03
It's got a mind of its own right now.
volatility is even across the board again :(10:04
<szubaark> yup.
<NihabaAshi> starting to look like the market is waiting on the 1030am est EIA Petroleum Status report.10:05
<Nesi> i see coiling ER
<NihabaAshi> If so, things should start getting interesting around 1015am est
<eminitrader>  Exited 1/3 ES Long @ 1513.25 --> + 3.75 10:06
<Nesi> nice
<eminitrader> thx
<Nesi> here we go..it seems10:09
<eminitrader>  Exited ES Long @ 1514.75 --> + 5.25

Reverse and Enter Short ES @ 1514.75
<Stowe> seems like ym 13630 is a reasonable target
<NihabaAshi>  Exited ER2 Long @ 796.10 --> + 1
  
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, intermarket analysis with a money back guaranteed policy...click here.
   Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) 
  
<Tim_a> i like 607 for ym
<Brutus> Nice trading E
<NihabaAshi> The way price action has been so "ERRATIC"...
<eminitrader> thx B
<NihabaAshi> I'm lucky to get out of that trade at a profit.
<Stowe> is that a more agreeable number?10:10
<les>  Exited all ER2 Long @ 795.9 --> + 0.5
<jperl> time for a break...trades here....
<eminitrader> 1515 1517 and 1519 ...nice entry for shorts ...fib levels
<NihabaAshi> I also lost my patience because my target was much higher
<jperl> http://charts.dacharts.com/2007-11-07/JP ERL_0110.jpg
<Nesi> i am waiting 797.4 :/
<NihabaAshi> around the 797.60 price area
<Tim_a> t's the volume doji lover pivot point yesterday afternoon
<Brutus> yep
<Tim_a> it's
<szubaark>  Shorts ES @ 1513.75 «« paper »» 10:11
<Stowe> it's the volume?
<eminitrader>  Covered 1/3 ES Short @ 1512.75 --> + 2
<Tim_a> the doji was made with reasonable volume
<NihabaAshi> As long as Gold and Oil makes an attempt to go higher...10:12
<Stowe> i like dojis
<NihabaAshi> I'll stay bullish on ER2 eventhough it does those crazy erratic price retracements.
<Tim_a> they're support and resistence in the making
<Stowe> yeah it's all baked in
CNBC: Mark Naines: "$4 Gasoline is recession territory"10:14
CNBC: Erin Whatshername: "There's got to be a tipping point"10:15
<Tim_a> if the refinery margin opens back up again we're $4+
<Brutus> 11/07/2007 10:12 DJ White House: $100/bbl Oil Price Not A "Magic Number"
<Stowe> I thought the liberals wanted us to be more like europe at $8 a gallon---then we'd be more fair10:16
<Tim_a> translation '$100+ is coming'
<Brutus> bush clan is happy
<Tim_a> iran saber rattling isnt helping dollar/oil
<NihabaAshi> Oil still not doing much...still waiting.10:22

Gold traders seem to think Oil will drop...Oil slowly "creeping" down over the past 2 mins.10:23
<szubaark>  Covered 1/2 Short ES at 1512.50 --> + 1.25 «« paper »»
<les>  Long ER2 @ 793.9 10:24
<NihabaAshi> contracting volatility in a few key markets
<szubaark>  Covered all Short ES at 1513.75 --> 0 «« paper »» 10:25
<eminitrader>  Covered Remainder ES Short @ 1513.75 --> + 1
<NihabaAshi> volatility spike in Oil

Gold still not convinced10:26
<les>  Exited all ER2 Long @ 794 --> + 0.1
<eminitrader>  Long ES @ 1511.50 10:27
<NihabaAshi> ER2 looks like a trap for the Shorts right now.10:28
* Stowe adds to long ym 13569
<NihabaAshi> It needs to drop another 5 ticks for me to think its not a trap...to think its really going lower.10:29
* Stowe adds to long ym 13570
<NihabaAshi>  Shorts ER2 @ 793.30 -> small size
* Stowe adds to long ym 1357310:30
<eminitrader>  Long ES @ 1511.50 -> Add 10:31
<NihabaAshi>  Covered all ER2 Short @ 793.10 --> + 0.2
<Stowe> good oil numbers for the market i thought
<Nesi> gong up ER
<les>  Long ER2 @ 793.7 10:32
<Nesi> oil 98

er needs to wake up :)
<szubaark>  Buys ES @ 1512.25 «« paper »» 10:33
<NihabaAshi> ER2 should have retested 795.00 by now with Oil rising and Gold stabilized.

sneaky little booger :(
<marrt> why all long?10:34
we are heading south from here
<les>  Exited ER2 Long @ 792 --> - 1.7

Reverse and Enter Short ER2 @ 792
<eminitrader>  Long ES @ 1509.50 -> Add
hld 10
<szubaark>  Exited all Long ES at 1508.75 --> - 3.5 «« paper »»

Shorts ES @ 1508.75 «« paper »» 10:35
* Stowe adds to long ym 13548
<eminitrader>  Exited all ES Long @ 1507.50 --> - 6 10:36
* Stowe adds to long ym 13538
<NihabaAshi>  Shorts ER2 @ 790.20 -> small size 10:37
* Stowe adds to long ym 13526
<NihabaAshi> too much downside pressure in Oil and Gold right now to be ignoring what's occurring in key markets.10:38

All while I'm bullish (not any more).
<szubaark>  Covered 1/2 Short ES at 1505 --> + 3.75 «« paper »»
<Brutus> need a USD chart
<eminitrader> nice one szu10:39
<les>  Covered all ER2 Short @ 788.8 --> + 3.2
<szubaark> thx
<les> oops that not right

Covered all ER2 Short @ 788.8 --> + 3.2 10:40

oh.. it was :)
<NihabaAshi>  Covered all ER2 Short @ 790.00 --> + 0.2 10:41
<Dmi76> similar picture was on the dax chart today
<Brutus> dax is holding nicely above support10:44
<Dmi76> i mean morning down fall
<Brutus> yes got that, but comment re dax now10:46
* Stowe adds to long ym 1353310:47
<les>  Long ER2 @ 790.6 10:48
* Stowe adds to long ym 1353210:50
<les> this trade's prob ok, but seems like er2 will have its bout of insanity first10:51
<cmr> Brutus: USD Index here, if it helps: http://quotes.ino.com/chart/?s=NYBOT_DX& v=i
<Brutus> k thx10:52
<intowin>  Covered all ES Short @ 1509 --> + 10 10:53

from close yesterday
<szubaark>  Covered all Short ES at 1508.75 --> 0 «« paper »» 10:54
Shorts ES @ 1508 «« paper »»
<les>  Exited all ER2 Long @ 798.6 --> + 8 11:00

oops again

Exited all ER2 Long @ 789.6 --> - 1

done for today
<eminitrader> later guys11:01
* Stowe adds to long ym 13522
<szubaark>  Covered 1/2 Short ES at 1505 --> + 3 «« paper »» 11:04
tough to stay in a trade, frikin every move retraces11:06
quants doing their job LOL11:07
<Tim_a> market's in a pretty precarious place technically11:09
<Dmi76> Niha can ask a question11:11
<NihabaAshi>  Long ER2 @ 789.60 -> small size

trying something new here11:12
<szubaark>  Buys ES @ 1508 «« paper »» 11:17
<Tim_a> aug-oct low to high was nearly equal to feb-jul low to high on spx11:18
<szubaark> expecting Volatility spike soon, hopefully to upside, im Long.
<Stowe> i like precarious
<Tim_a> higher lows and highs are stalling
<Stowe> and dangerous

danger zone11:19

"flying mach2 with your hair on fire
<szubaark>  Exited 1/2 Long ES at 1509.50 --> + 1.5 «« paper »» 11:20
exit stop moved to breakeven ES @ 1508 «« paper »»
<Stowe> ofc that was classified
<szubaark>  Exited all Long ES at 1508 --> 0 «« paper »» 11:21
tough to stay in a trade
<Stowe> CNBC: "$1000 oil...nothing to fear"

oh sorry lol

CNBC: "$100 oil...nothing to fear"11:22

million dollar oil
<NihabaAshi> The U.S. Dollar is doing so poorly that many key currencies, Gold and Oil is seeing money flow into them.
This week I'll be switching my website services from U.S. Dollar to Canadian Dollar.11:23
Gotta go with the flow :)
<Tim_a> being world's policeman we end up prtecting other people's property, property that we sold to pay our bills11:24
<Guest35179>  Shorts ER2 @ 797.9
Covered all ER2 Short @ 790.4 --> + 7.5
<Nesi> nice11:25
<Guest35179> that was late post as i closed position from last night
<Stowe> [July 03, 2006]

Are Global Supply Chains Too Risky? A Practitioner's Perspective

Escalating Transportation Costs.11:26

We have just lived through a period of $70-per-barrel oil. While there appears to be some short-term relief in sight, some have predicted that the price will hit $100 a barrel. Still others, looking out 1520 years, are predicting $300 oil. What's clear is that a severe oil shortage is likely to occur as production approaches its maximum and demand peaks near that same level.
<NihabaAshi> tough price action right now
<Stowe> highest predicted oil price yet11:27

so...at $300 oil...gas is about $14/gal?11:28
<NihabaAshi> Support just showed up for my Long position.
<Stowe> "nothing to fear"
<NihabaAshi> Lets see it ER2 can now go higher above the 791.00 price area
Exited 1/2 ER2 Long @ 791.10 --> + 1.5
<cmr>  Shorts ER2 @ 791 «« paper »» 11:30
<Stowe> so it would cost about $168 to fill a tank?---well...at $300/oil, the dollar would be worth 25 cents, so seems reasonable11:31
<NihabaAshi> I'm going to roll the dice here and try to capture an exit around 797.60 with my trailing stop moved up now to 789.70

exit stop raised ER2 @ 789.70
<szubaark>  Shorts ES @ 1507.50 «« paper »» 11:32
<NihabaAshi> Meant 797.60 - 794.8011:33
<szubaark> short lived volatility spike to downside so far11:38
<NihabaAshi> Got rudely pick pocketed :(11:39
<szubaark>  exit stop moved to breakeven ES @ 1507.50 «« paper »»
<NihabaAshi>  Trailing Stop Hit ER2 @ 789.70 --> + 0.1
<szubaark>  Covered all Short ES at 1507.50 --> 0 «« paper »»
<Tim_a> spx is sitting one point above 20 week ma, that could make things jittery11:40
<Stowe> you mean make futures rally?11:41
hope you're right, cause we need that reasonable ym 13630 target11:42
<Tim_a> i mean it could be jumpy in the resolution of it - trend is bull, but that trend is in question, imo

bulls dont end until all the bears are broke11:44
<Stowe> maybe bears don't end until the bulls are broke11:46
maybe chickens run for cover and pigs get slaughtered
maybe there's a santa claus11:47
<Brutus> you must trade alone :))11:48
<Stowe> it's a lonely dirty job
but there are people who'll do it11:49
heck, there are people who catch alaskan crab in the winter in the berring sea and live to tell about it
<X>  #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)12:01
<cmr>  Covered all ER2 Short @ 788 --> + 3 «« paper »» 12:02
<NihabaAshi>  Long ER2 @ 785.90 -> small size 12:31
<cmr>  Long ER2 @ 786 «« paper »»
<NihabaAshi> order problem on the entry and order problem on the exit attempt...12:34

I'm still long :(
<codehead> nice crude drop12:36
a point and half fast
<NihabaAshi>  Exited ER2 Long @ 785.60 --> - 0.3 12:37

Reverse and Enter Short ER2 @ 785.60
<Brutus> 11/07/2007 12:33 *DJ OIL FUTURES: Nymex Crude Turns Negative, Falls Below $96/Bbl12:38
<ItalianSharp> we got a few FED men speeches in a little bit12:42
<Nesi> thanks
<szubaark>  Shorts ES @ 1503 «« paper »» 12:43
<NihabaAshi>  Covered all ER2 Short @ 785.40 --> + 0.2
<szubaark> expecting Volatility spike soon, hopefully to upside, im Long.12:45
<codehead> YM indecisive here on cci
might hook up if it doesn't drop soon12:46
<NihabaAshi> volatility contracted for some time now in ER2...

Gold and Oil now contracted.
<szubaark>  Covered all Short ES at 1503.75 --> - 0.75 «« paper »»
Buys ES @ 1503.75 «« paper »» 12:47
<NihabaAshi>  Shorts ER2 @ 784.50 -> small size 12:49
<szubaark>  Exited all Long ES at 1500 --> - 3.75 «« paper »»
:((
Shorts ES @ 1500 «« paper »»
took wrong direction bet.
<NihabaAshi>  Covered 2/3 ER2 Short @ 783.20 --> + 1.3
<codehead> oil dropping again12:52
<Brutus>  Long ES @ 1498 «« paper »» 12:53

got a feeling on LOD or a good bounce 2pt stop12:54
<marrt> brutus good call
also went long 1498
<NihabaAshi>  Covered Remainder ER2 Short @ 784.30 --> + 0.2 12:55
<Brutus>  Exited 1/2 ES Long @ 1500.5 --> + 2.5 «« paper »»
thx 0
thx m
<NihabaAshi> Geeesh...having a lot of trouble keeping my remainders in a position.

#FuturesTrades Purpose -> No gurus, no head traders...you're here to document your own trades and thoughts as you traverse from one trade to the next trade because it provides critical information you cannot get from your broker statements (real money or simulator)...use this room as your trade journal.12:59
<Nesi> nice shuttle landing
<Brutus> ES pattern? bullish I hope13:00

sorry Stowe got me in the mood
<szubaark> that was nice bounce play Brutus13:01
<Nesi> shuttle touch down

clap clap
<NihabaAshi>  Shorts ER2 @ 783.40 -> small size
<szubaark> need NQ and ER catch up with NQ13:02
<NihabaAshi> 1 only because I'm in profit protection mode after reaching my profit goal for the trading day.
<Brutus> thx szu
<szubaark> see some LOD hunters stepping in, lets see if they get Flushed out13:03
<Brutus> 2 es 5min hammers
<Trader222> still short from yesterday; and pondering.... SPX cash 1490 has been major major support; and bearish thoughts are if that 1490 spx level is taken out; major sell prg could hit
<Brutus>  Long ES @ 1499 -> Add «« paper »»
<Trader222> the contration in me : many are expecting CSCO tonight to 'save the market' with techs again leading higher13:04
<szubaark>  Covered all Short ES at 1500 --> 0 «« paper »» 13:05
<NihabaAshi>  Covered ER2 Short @ 784.70 --> - 1.3
<szubaark>  Buys ES @ 1500 «« paper »»
<Brutus>  Exited 1/2 ES Long @ 1500 --> + 1 «« paper »»
* sep34- is now known as SEP34
* SEP34 is now known as sep3413:06
<NihabaAshi>  Shorts ER2 @ 784.70 -> small size 13:07

starting to look a little like the market is searching for a support level to try and spring higher13:08
<ItalianSharp> agree
<codehead> szu--vegas on ym 5 min at trigger13:09
<szubaark> code, yes13:10
<Nesi> this can also get uglier..
<codehead> 5 min bar jsut closed right at the trigger, didn't go off
<Tim_a> dow is right on the 'zero line' going back to august13:11
<NihabaAshi>  Covered ER2 Short @ 784.40 --> + 0.3
<Stowe> time to buy

he said13:12
<Brutus>  Exited all ES Long @ 1498 --> 0 «« paper »»
<szubaark> tough battle going on here
<Trader222> keep watching spx 1490ish
<NihabaAshi>  Long ER2 @ 784.60 -> small size 13:13
* Stowe adds to long ym 13484
<szubaark> Nice Niha.
<NihabaAshi> Looks like the FED speech is causing the choppy price action :(13:14
volatility contracting
<szubaark>  Exited all Long ES at 1597 --> + 97 «« paper »» 13:15
<NihabaAshi> Not anymore :(
<szubaark>  Exited all Long ES at 1497 --> - 3 «« paper »»

:((
<Tim_a> a 'box range' break of the last 4 days would drop us down 175 points, to the 200 day ma on the dow
<szubaark>  Shorts ES @ 1497 «« paper »»

Wants more DOWN
<Brutus> 11/07/2007 13:15 *DJ Fed's Poole: Implications Of Mkt Upset On Economy `Unclear'
<szubaark> stalling again :((13:16
<Tim_a> i dont care what it does, as long as im on the right side of it13:17
<NihabaAshi>  Exited ER2 Long @ 782.60 --> - 2

Reverse and Enter Short ER2 @ 782.60
<szubaark> yup, i ate some Stops on that Chop zone
<Brutus>  Long ES @ 1494 «« paper »»
* Stowe sells all longs 13470 to 13465 -84,-87,-90,-85,-92,-89,-81,-94,-95,-98, -78,-68,-56,-63,-62,-52,-14 from 13573 to 13484 longs13:18
<Brutus>  Exited ES Long @ 1494 --> 0 «« paper »»
<NihabaAshi> geeesh
<szubaark>  Covered 1/2 Short ES at 1591.75 --> - 94.75 «« paper »»

Covered 1/2 Short ES at 1491.75 --> + 5.25 «« paper »» 13:19
<Trader222> yea
big sell prgs on losin SPX 1490
<NihabaAshi> The way price has been jerky...
<Tim_a> 294 target on ym
<Brutus>  Long ES @ 1488.25 «« paper »»
<NihabaAshi> I'm surprised this has turned into a "directional price action".
Covered ER2 Short @ 780.90 --> + 1.7 13:20
<Brutus>  Exited 1/2 ES Long @ 1491 --> + 2.75 «« paper »»
<szubaark> yes but its TOUGH to catch these Volatility Bursts as they shakin good.
<NihabaAshi> Hammer line...don't want to do battle with that.
<Brutus>  Exited 1/4 ES Long @ 1492.5 --> + 4.25 «« paper »» 13:21
* Trader222 covers 1/2 of last nite's / yesterday short 1490 +28ave
<szubaark> Again, nice Brutus
<Trader222> bigtypo, +23.8ave
<Stowe> excellent 22213:22
<Brutus> thx szu
<codehead> crude dive
<Trader222> when I saw that china plans on selling USD and buying Euro; knew today would be big red
<Stowe> excellent brut
like the gum?13:23
<Brutus> drop like this sometimes causes a very good reversal
<Stowe> ym 13365 seems like a good entry target13:24
<Trader222> next lower support imo is dow cash 13,350
<Brutus> that China official has made those comments before
<szubaark> yes that was Violant drop
<Brutus> Chinese will never show there hand
shrewed
<Trader222> i'd love a close Under spx149013:27
* Trader222 tells self ; ok, control that Greed factor
<Stowe> control your greed factor
<NihabaAshi>  Shorts ER2 @ 781.00 -> small size
<Stowe> oh...you already told yourself13:28
<szubaark> er and es not following nq
<Stowe> i need a bag of potato chips

bbiab
<NihabaAshi>  Covered ER2 Short @ 782.40 --> - 1.4 13:29
Reverse and Enter Long ER2 @ 782.40
Exited ER2 Long @ 784.00 --> + 1.6 13:32
<Brutus>  Exited all ES Long @ 1494.5 --> + 6.25 «« paper »» 13:33
<szubaark> last drop on es almost all of it retraced, impossible to hold onto remainders :((
<NihabaAshi> volatility contracting13:36
<szubaark> 1497 is where that drop occured, lets see if they tag it :(13:38
<NihabaAshi> more contraction13:39
<Brutus> be 10 pts but looks weak, NQ is not moving although it never fell as much13:40
<NihabaAshi>  Long ER2 @ 785.00 -> small size 13:41
<szubaark> Bastids
<Brutus> dax close - .35%
<NihabaAshi> That was more than just a volatility spike...13:42
It was a volatility breakout.
Easy reversal opportunity if my Long doens't go as plan.
* Trader222 covers more ES from yesterday 149613:43
<NihabaAshi> volatility contracting13:44
<Trader222> sorta early in day though for day-low
<NihabaAshi>  Exited ER2 Long @ 784.40 --> - 0.6 13:46
Reverse and Enter Short ER2 @ 784.40
volatility contracting13:48
Covered ER2 Short @ 785.30 --> - 0.9 13:49
Reverse and Enter Long ER2 @ 785.30
It's stuck in a 1.5 point mud
<szubaark>  Covered all Short ES at 1497 --> 0 «« paper »» 13:50

Buys ES @ 1497 «« paper »»
<teresa> SS ES 149613:53
<NihabaAshi>  Exited ER2 Long @ 785.50 --> + 0.2

It's pulling back into the mud.13:54
<teresa> Es half off 1494.5 +1.513:55
1496 stop
and flat 2nd half13:56
<Trader222> back to spx 1490
<NihabaAshi>  Long ER2 @ 785.70 -> small size 13:57
<teresa> long ES 1496.5

out -1.2514:00
<NihabaAshi> tough price action due to above normal number of volatility breakouts
More importantly...they retrace a prior volatility breakout14:01
Exited ER2 Long @ 783.70 --> - 2 14:02
<jperl> ER2 at 1std dev below VWAP for yearly chart, 783.7814:04

as seen here on the far right....14:05

http://charts.dacharts.com/2007-11-07/JP ERL_0111.jpg14:06
<NihabaAshi> Dark Hammer line14:07
<X>  #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)
<Trader222> Esignal: wish they had decent VWAP; or do they in the new version and I missed it?14:08
<NihabaAshi>  Long ER2 @ 784.10 -> small size
<Brutus> I read new ver has it14:09
<NihabaAshi> volatility spike

lets see if I get support or it breaks down again to take me out with a loss.

Actually its a volatility breakout.
<Tim_a> i just use ib with medved quoteracker, ib's charts have 3 second delay to price14:10
medved's free
<NihabaAshi>  Exited ER2 Long @ 784.20 --> + 0.1 14:11

got nailed agai

volatility contracting14:13

Long ER2 @ 785.50 -> small size

geeesh

tough

Exited ER2 Long @ 785.70 --> + 0.2 14:14

FED must be still speaking14:17

Long ER2 @ 786.20 -> small size 14:19

spiking again and then the quick pullback :(

Exited ER2 Long @ 785.50 --> - 0.7 14:21

Reverse and Enter Short ER2 @ 785.50

Covered ER2 Short @ 785.50 --> 0 14:24
<ItalianSharp> poole still speaking14:25
<NihabaAshi> thanks

I'll change my trade management because they are still speaking late in the afternoon.14:26
<ItalianSharp> bear in mind we have the consumer credit report at 3pm14:27
<jperl> Thanks for the reminder IT
<ItalianSharp> np
<jperl> I'm done for the day then....P/L here....

http://charts.dacharts.com/2007-11-07/JP ERL_0112.jpg14:28
<NihabaAshi>  Shorts ER2 @ 787.60 -> small size
Decided to play their game "retrace the spike".
Covered ER2 Short @ 787.00 --> + 0.6 14:29
Shorts ER2 @ 787.00 -> small size 14:33
Covered ER2 Short @ 786.70 --> + 0.3 14:35
contracting volatility
<Nesi> buy YM 47714:36

stop hard at 465

out -1314:37
<szubaark>  Exited 1/2 Long ES at 15 --> - 1482 «« paper »» 14:41
Exited 1/2 Long ES at 1500 --> + 3 «« paper »»
<NihabaAshi>  Shorts ER2 @ 787.50 -> small size 14:44
<Nesi> my read as a newbie...this looks like the real spike ..imo..in progress
<NihabaAshi>  Covered ER2 Short @ 785.70 --> + 1.8 14:46
<Nesi> nice one, Niha
<NihabaAshi> When you can't beat em with the entries on the spike...14:47

Join em by fading it too :)
* Stowe short ym 13466 to 1346414:49
adds to short ym 13467 to 1347014:50
adds to short ym 13464
adds to short ym 13460 to 1345814:51
<szubaark>  Exited all Long ES at 1497 --> 0 «« paper »»
<NihabaAshi>  Shorts ER2 @ 783.30 -> small size 14:53
<Stowe> ym 13365 seems like a reasonable target
<NihabaAshi>  Covered ER2 Short @ 784.00 --> - 0.7 14:54
Reverse and Enter Long ER2 @ 784.00
come on...push back up...you guys been fading this all afternoon so far.14:55
Exited ER2 Long @ 782.80 --> - 1.2 14:56
Long ER2 @ 783.20 -> small size 14:57
<Tim_a> i really think it wants the 200 day ma's now, but it will take the trickiest path too it

whatever path forces the most shorts to cover, and keeps the most longs in14:58
<NihabaAshi>  Exited ER2 Long @ 783.70 --> + 0.5 14:59
Long ER2 @ 784.30 -> small size 15:00
A few ticks higher and this thing risk being faded.15:01
Exited ER2 Long @ 784.60 --> + 0.3 15:02
volatility spike15:05
Long ER2 @ 785.00 -> small size 15:06
<rainer>  Long YM @ 13445
<NihabaAshi> no fading this time for me
<rainer>  Exited all YM Long @ 1355 --> - 12090

Exited all YM Long @ 13455 --> + 10 15:07
<NihabaAshi> come one...every thing is setup just right for some continuation upwards
<Nesi> nice again15:09

wow
* Stowe adds to short ym 13472
<NihabaAshi>  Exited ER2 Long @ 786.40 --> + 1.4
* Stowe adds to short ym 1347915:11
adds to short ym 1347615:12
<NihabaAshi>  Shorts ER2 @ 786.60 -> small size 15:16
* Stowe adds to short ym 13473
<NihabaAshi>  Covered ER2 Short @ 786.40 --> + 0.2 15:18

A 2 tick better entry would have given me the wiggle room to stay in that trade because I was late by 2 ticks in getting short :(15:19
<Tim_a> pressed entries always burn me15:20
<Stowe> you mean when foxnews barges in and asks all the family values questions?15:21
<NihabaAshi> volatility spike15:24
lets see if the retrace it back up15:25
Long ER2 @ 784.00 -> small size
I got in trouble before on a similar like down movement fade15:26
<Trader222> back under spx 1490
<Brutus> 11/07/2007 15:24 *DJ Bush: Downplays Impact Of US-Iran Tension On Oil Prices15:27
<NihabaAshi>  Exited ER2 Long @ 783.10 --> - 0.9

Reverse and Enter Short ER2 @ 783.10
<Stowe> dick cheney---big oil15:28
<Trader222> I'll always wonder what woulda happened if we spent $500b on alt energy r&D vs. war funding
<Stowe> obsene profits
<Nesi> nice read on YM Stowe
<Stowe> yeah or socialized healthcare for everyone15:29
ty nes
<NihabaAshi>  Covered ER2 Short @ 781.50 --> + 1.6

Better result because I didn't hesitate this time on the reversal
<Stowe> what i want is free everything for everyone...if you need a million bucks...just show up at hillary's cash-keosk15:30
  
WRB Analysis
  
* Trader222 cover more ES short from yesterday 1490s +23s
<Stowe> 222 burnin' rubber with those excellent trades man15:31
<Tim_a> both parties are completely irresponsible
<Trader222> Stowe thanks
<Stowe> lets get 13365 ym15:32
<Trader222> easiest trade this week was bearish on C monday morning via options after that shocking 11b$ writedown news came out on Sunday
<NihabaAshi> big Dark Hammer line a few intervals ago
<Stowe> i know...and i didn't hold enuf
<Trader222> Stowe: u do options? I am more of a fan of credit spreads vs. pure long calls/long puts15:33
* sep34 is now known as sep34_away
<Stowe> no

only ym
<Tim_a> bid ask spread on options is brutal
<Stowe> it's impossible

like maffia takin their cut
<Trader222> lol Tim, I take it you didn't do options in 1999 when the bid/ask might be 18x20
spreads these days with the pennies is fine15:34
and I do credit spreads, I SELL the time decay, I SELL the prem; via spred
so time works in my favor
<Tim_a> they make sense for someone who wants to hedge a large portfolio without generating taxable gains, that's it
<Trader222> sorry TIm, couldndt disagree more15:35
<Stowe> 222 is right tim
<Tim_a> if you're a seller, it's a different story
* Trader222 cover more ES short from yesterday 1488+2515:36
<Tim_a> speaking of sellers....
<NihabaAshi> Price action just below the long lower shadow of the prior Dark Hammer line I mentioned

Long ER2 @ 780.30 -> small size 15:37

looking for a retracement back upwards within that long lower shadow of the Dark Hammer line15:38

got it

Exited ER2 Long @ 781.00 --> + 0.7
<Nesi> YM at low15:39
new low
* Stowe covers some ym 13365 to 13362 +101,+103,+100,+102,+99,+102,+104,+103,+ 105,+104,+102,+99 from 13470 to 13464 shorts15:40
<Nesi> good trading, Stowe15:41
<Stowe> i needed that today
<Nesi> wrong print on ER?15:42
anyone see it ?
<Trader222> Stowe : nice
<codehead> yeah wow15:44
<NihabaAshi> I didn't se it15:45
* Stowe covers remaining ym 13385 to 13400 +79,+75,+74,+73,+72,+79,+76,+73, +73,+73,+73,+73 from 13464 to 13479 shorts
<Nesi> a print above 790 on my chart
<Stowe> i needed that today too
<NihabaAshi> charting and broker are normal for ER2...no crazy prints

Their trying to fade another volatility spike15:46
<Stowe> i'm outta potato chips15:47
<NihabaAshi> I have one bag left :)

Missed the entry around 782.40...got caught reading an email :(15:49

I'm done trading...15:51

I have a ton of trading notes to go thru involving a lot of trades this afternoon concerning a new volatility breakout method for possible scalping.15:52

Take care all and see all tomorrow.15:53
* NihabaAshi is now known as NihabaAshi_away
<werner> dito niha
<Tim_a> that 294 ym target looks a little closer now15:55
dow 200 ma only 110 points down15:56
<ItalianSharp> wow, they shaking them good15:57

very bad close for the markets today

this may carry over thru tomorrow15:58

gonna keep a bearish bias for tomorrow's open unless the overnight session provides some major bullishness
* Trader222 cover more ES short from yesterday 1480+33 : a very happy wow15:59
<ItalianSharp> let's see if we get some short covering at 4pm
<Nesi> geezz16:01
<Stowe> what are you ...?...some kinda vol-tone?
<Trader222> my bearish side wanted a close Under SPX 1490; never thought 1475
<Stowe> from space?
<Trader222> coffee ahead of csco/aig
<Brutus>  ============ U.S. MARKETS ACTION ===========16:03

DJIA down 371.40 points to 13289.54

NASDAQ down 76.86 points to 2748.32

S&P 500 down 45.23 points to 1475.04

10-year T-note up 77/32 at 103 7/32 yield 4.338

NYMEX Spot Crude down $0.46 at $95.91/bbl

Dollar/Euro up 0.0071 at 1.4634
<Stowe> vol-tones were "geniuses from the space of the future" who landed on earth in 1947....they knew stuff before it happened...seems like that's what you did today 22216:04
<Brutus>  http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={44652 483-690b-4622-a10b-c5fc45172ffb}16:05

11/07/2007 16:05 *DJ Cisco Systems 1Q Sales $9.55B Vs $8.18B, +17% >CSCO
<X>  #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, 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, XLE, QQQQ, SPY)16:13
<Trader222> odd that NQ didn't sell after CSCO came out16:26
<Stowe> nq isn't the thing it used to be16:30
alas and alack
it used to be a good thing to trade
smooth and unicumbered16:31
* DisconnectedSession Close: Wed Nov 07 16:39:11 200716:39
  
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