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 Post subject: June 11th Friday 2010 Emini TF ($TF_F) points +15.10
PostPosted: Mon Jun 14, 2010 11:12 pm 
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Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, this public trade journal contains useful trading tips a few times per week to encourage readers to return for more information and to help ensure I myself don't forget the importance of basic concepts within my own trading plan. Further, there are market summaries from Youtube Bloomberg, CNNMoney and Yahoo Finance as a quick archive of what happened in the markets on a particular day of trading. Thus, if you're looking for trading tips and market summaries that can improve your trading and/or understanding of what happen on a particular day that involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=75&t=542

Quote:
Today's results are 5 wins : 3 losses (see above #FuturesTrades log). It's been tough trading lately with all the family sickness. I myself have been more sick this year than all of the past 30 years. It's crazy...so weird that I'm now wondering if there's something in the environment (house, outside) that's causing the illness. Also, will take Monday off (no trading) just to get some rest. As for my trading today, the first trade of the day was my best trade via the Advance Price Action Only Report (APAOR) in combo with intuition/market experience.

Trading Tip: Health comes 1st, family comes 2nd and trading comes 3rd.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about any thing related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader


In addition, posted below are direct links about my trade methodology or trading approach that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body analysis).

Image WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm

Image Daily Trade Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=109&t=652

Trade Performance for Today: +15.10 points or $1,510 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures
Attachment:
061110_wrbtrader_PnL_Blotter_Profit.png
061110_wrbtrader_PnL_Blotter_Profit.png [ 32.28 KiB | Viewed 1669 times ]

1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.
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The market summaries below are courtesy of Bloomberg, CNNMoney and Yahoo! Finance. gm


http://www.youtube.com/v/1KuF5lkv-G4

Dow Posts 1st Weekly Gain In A Month
By Hibah Yousuf, staff reporter
June 11, 2010: 4:52 PM ET

NEW YORK (CNNMoney.com) -- Stocks turned up during the last hour of trade Friday after a choppy session, erasing deep losses triggered by a disappointing retail sales report, and the Dow posted its first weekly gain in a month.

The Dow Jones industrial average (INDU) added 39 points, or 0.4%. The index was down as much as 90 points earlier in the session, with pressure from a decline in the consumer sector and energy shares.

The S&P 500 index (SPX) rose 5 points, or 0.4%, and the Nasdaq composite (COMP) gained 25 points, or 1.1%. Like the Dow, the other indexes started sharply lower and bounced between negative and positive territory throughout the session. Both indexes finished higher on the week.

U.S. stocks rallied Thursday, with the three major indexes rising 3%, as concerns about Europe's debt crisis eased, supporting gains in the region's shared currency. The euro climbed against the dollar to its highest level in a week, rising above $1.21.

Stocks sank at Friday's open as investor digested an unexpected 1.2% drop May retail sales, but trimmed those losses following a report that showed a rise in consumer confidence.

The University of Michigan's consumer sentiment index rose to 75.5 in June, up from 73.6 in May. Economists were expecting the figure to rise to 74.5.

"Consumer confidence won out over retail sales," said Dan Alpert, managing partner at Westwood Capital. "Even though stocks were still flowing mostly in negative territory through the day, the downslide would have been sharper without that boost in consumer confidence."

Despite two straight days of gains, analysts said the markets will remain choppy, as Europe's debt crisis, BP's oil mess, stubbornly high unemployment and recent volatility weigh on stocks.

"There's not a whole lot of good news and investors are standing on the sidelines waiting for the smoke to clear," said Kenny Landgraf, principal and founder of Kenjol Capital Management. "We need to see some stability, but we're not likely to get it until the quarter ends and earnings season begins. But that's still a few weeks away."

Economy: A report from the Commerce Department showed that business inventories increased 0.4% in April, missing economists' expectations of a 0.5% rise.

Companies: Dell said late Thursday it is nearing a resolution with the Securities and Exchange Commission on a mysterious case linked to a government investigation into the computer giant launched in August 2005. The company said it has set aside $100 million for a potential fraud settlement. Shares of Dell (DELL, Fortune 500) were down 0.4%.

BP's (BP) stock was 3% higher as reports said the company might defer or decrease its second-quarter dividend, due to pay out next month, as political pressure mounts over the Gulf oil spill.

Shares of Wendy's/Arby's Group (WEN) jumped 4% after hedge fund manager Nelson Peltz of Trian Fund Management, the fast-food company's largest shareholder, said an unnamed group expressed interest in acquiring the Wendy's/Arby's.
0:00 /4:20Analyst: Oil spill could cost up to $30Bn

World markets: European markets ended mixed. France's CAC 40 climbed 1.1% and Britain's FTSE 100 rose 0.6%, while the DAX in Germany closed down 0.1%.

Stocks in Asia closed higher. Japan's benchmark Nikkei index rose 1.7% and the Hang Seng in Hong Kong finished the session up 1.2%.

Dollar and commodities: The dollar gained ground against other major currencies. The greenback rose 0.3% on the euro and climbed 1.3% against the British pound. The dollar was 0.4% higher against the Japanese yen.

U.S. light crude oil for July delivery fell $1.70 to $73.78 a barrel, and gold for August delivery rose $8.00 to $1,1230.20 an ounce.

Bonds: Treasury prices were higher, pushing the benchmark 10-year note's yield down to 3.23%. Bond prices and yields move in opposite directions.

Market breadth. On the New York Stock Exchange, winners topped losers by a almost three to one on trading volume of 1 billion shares. On the Nasdaq advancers topped decliners five to two on 1.8 billion shares.

Image

Yahoo! Finance

4:30 pm : Stocks finished the week on a strong note after a disappointing monthly retail sales report had initially dampened hope for an extension to the prior session's surge.

The S&P 500 rallied 3% on Thursday, but action in the early going suggested that participants were interested in pocketing some of that gain. The worst Advance Retail Sales Report in months provided the excuse. Many had expected a modest increase in May retail sales, but they got a 1.2% drop instead. Sales less autos had also been expected to make a slight increase, but they fell 1.1% in their worst drop in over one year.

Stocks got some relief from the preliminary Consumer Confidence Survey for from University of Michigan. The survey exceeded expectations for a reading of 74.5 by improving to a two-year high of 75.5.

Business inventory data for April had little impact on trade. As had generally been expected, inventories increased 0.4% for the month.

Given the lack of corporate news flow, market participants were left to take their cues from the economic data. However, the conflicting nature of those reports left stocks to trade in a relatively tight range in lackluster fashion for most of the session.

The major averages were pushed higher in the final few minutes to settle at session highs, though. The move was likely helped by the light volume, which often makes for more exaggerated swings among stocks.

Nonetheless, the Nasdaq netted a gain of more than 1%. That helped it secure weekly gain of just over 1%. For comparison, the S&P 500 tacked on a 2.5% weekly gain and the Dow added a 2.8% weekly gain, even though their gains were moderate this session.

Underlying gains were varied. Microsoft (MSFT 25.66, +0.66) was a steady source of strength for the Nasdaq, while better-than-expected earnings and upbeat guidance made National Semiconductor (NSM 14.21, +0.68) a leader in the broader S&P 500. Strength in MSFT and NSM helped drive the overall tech sector to a 1.1% gain, which was second only to the materials sector's 1.2% advance.

Health care stocks also saw strong support. They advanced 0.8% as pharmaceutical plays found favor following Citigroup's upgrade of Bristol-Myers Squibb (BMY 25.08, +0.44). The stock was also named a top pick among pharmaceutical plays by Barclays.

Airline stocks saw some of the best gains. As such, the Amex Airline Index ascended to a 2.5% gain. The index is now up more than 16% year-to-date, while the S&P 500 is down more than 2% since the start of 2010.

Consumer staples stocks lagged for the entire session. They closed with a 0.8% loss. Tobacco stocks (-1.3%), household products (-1.1%), and soft drinks (-0.9%) were among the sector's worst performing plays.

Advancing Sectors: Materials (+1.2%), Tech (+1.1%), Health Care (+0.8%), Industrials (+0.5%), Energy (+0.4%), Financials (+0.4%), Telecom (+0.2%), Consumer Discretionary (+0.2%)
Declining Sectors: Consumer Staples (-0.8%)
Unchanged: Utilities DJ30 +38.54 NASDAQ +24.89 NQ100 +0.9% R2K +1.4% SP400 +1.1% SP500 +4.76 NASDAQ Adv/Vol/Dec 1888/1.81 bln/752 NYSE Adv/Vol/Dec 2212/1.04 bln/805

3:30 pm : Soft commodities (+2.1%) led the CRB Commodities Index higher today. Coffee futures were the largest contributor to that move; they closed 5.3% higher.

Energy futures finished lower by 0.2%, as a group. Individually, July crude oil fell 2.2% to $73.78 per barrel. Worse-than-expected economic data set the commodity's direction of trade.

Meanwhile, July natural gas prices gained 2.2% to close at $4.78 per MMBtu. Reports cited forecasts for warm weather across the Midwest and East as sources of strength. This was the first session in four that natural gas gained.

As for precious metals, gold prices closed higher by 0.6% to $1230.20 per ounce. July silver shed 0.6% to finish the week at $18.23 per ounce. DJ30 -16.02 NASDAQ +11.80 SP500 -1.24 NASDAQ Adv/Vol/Dec 1396/1.42 bln/1207 NYSE Adv/Vol/Dec 1523/709 mln/1449

3:00 pm : Action has slowed as market participants enter the final hour of trade. In turn, trading volume has decelerated from the first part of the session. At the current pace of trade, it is unlikely that share volume on the NYSE will meet its recent average of roughly 1.4 billion shares per session.

With the final hour of trade at hand it appears that the stock market is on track for a weekly gain of 1.8%. However, that could always change with a late session swing, which has become a common occurrence in recent weeks. DJ30 -28.91 NASDAQ +6.99 SP500 -2.78 NASDAQ Adv/Vol/Dec 1385/1.32 bln/1202 NYSE Adv/Vol/Dec 1542/657 mln/1433

2:30 pm : Stocks have drifted to afternoon lows, but they are still above the depths that were registered in the opening minutes of trade. Nonetheless, the slide has been broad based.

Consumer staples stocks remain under the most pressure. The sector is now down 1.6%. Health care stocks have held on to a 0.2% gain, thanks to continued leadership among pharmaceutical plays like Bristol-Myers Squibb (BMY 24.99, +0.35), which was upgraded by analysts at Citigroup and also named a top pick among pharmaceutical plays at Barclays. DJ30 -48.41 NASDAQ +0.81 SP500 -3.57 NASDAQ Adv/Vol/Dec 1296/1.23 bln/1269 NYSE Adv/Vol/Dec 1390/605 mln/1575

2:00 pm : The major equity averages continue to oscillate, though their range of trade has been relatively narrow.

Airline stocks have fared well, however. Specifically, the Amex Airline Index is up 1.3%. That move has helped lift the Airline Index to a 15% year-to-date gain, which is far better than that of the S&P 500 (-2.8% year-to-date) or any individual sector (consumer discretionary sector has been the strongest in 2010 with a 7.0% year-to-date gain). DJ30 -42.85 NASDAQ +2.70 SP500 -4.23 NASDAQ Adv/Vol/Dec 1354/1.13 bln/1177 NYSE Adv/Vol/Dec 1444/560 mln/1509

1:30 pm : Stocks recently caught a modest bid that helped swing the S&P 500 up toward the neutral line. However, sellers continue to stand as a formidable guard against any gains. In turn, mixed trade persists.

Though the action on Wall Street generally remains lackluster, downtown Chicago is lively and hearty as the Blackhawks parade the city's streets with a big, old silver cup. It has been nearly 50 years since the Stanley Cup was last in Chicago. DJ30 -22.75 NASDAQ +9.27 SP500 -1.37 NASDAQ Adv/Vol/Dec 1528/1.03 bln/982 NYSE Adv/Vol/Dec 1675/518 mln/1266

1:00 pm : Disappointing monthly retail sales numbers gave stocks a weak start, but an upbeat consumer sentiment survey helped improve the tone. Overall action remains lackluster, though.

Coming off of a 3% surge in the prior session, market participants looked poised to sell after the Advance Retail Sales Report for May showed a 1.2% drop in total retail sales and a 1.1% drop in sales less autos. Not only did those readings come in stark contrast to expectations for increases, but they were also the worst readings in months.

Stocks got a lift from an upbeat preliminary June Consumer Confidence Survey from University of Michigan. The survey improved to 75.5 from 73.6 and was also above the expected reading of 74.5.

Business inventory data for April had little impact on trade. Inventories increased 0.4% for the month. That was about what many had expected.

Trade has settled into a rather lackluster rut, however. That has left the broader market mired in negative territory with a modest loss.

Renewed selling pressure against the euro has acted as an overhang on broader market trade. The euro had extended a sharp gain from the prior session into overnight trade, but it is now down 0.4% to $1.207.

Consumer staples stocks have had to contend with a steady, stiff bout of selling. The sector is currently down 1.2%, more than any other major sector.

Tech stocks have ticked higher, however. The sector is up 0.4% with Microsoft (MSFT 25.43, +0.43) providing the most leadership. Microsoft has also helped prop up the Nasdaq, which has managed to hold on to a modest gain. DJ30 -19.12 NASDAQ +9.60 SP500 -2.29 NASDAQ Adv/Vol/Dec 1478/955 mln/1008 NYSE Adv/Vol/Dec 1628/488 mln/1312

12:30 pm : Trade has become both choppy and listless. The lackluster action has left the major averages to trade in a relatively narrow range with mixed results. DJ30 -41.34 NASDAQ +3.68 SP500 -4.73 NASDAQ Adv/Vol/Dec 1341/858 mln/1121 NYSE Adv/Vol/Dec 1448/441 mln/1476

12:00 pm : The Nasdaq has pulled itself back into positive territory to trade with a modest gain. The broader S&P 500 and blue chips in the Dow remained mired in the red with a modest loss, though.

Though its influence over the price-weighted Dow has been less pronounced, Microsoft (MSFT 25.49, +0.49) has provided leadership to the Nasdaq. The stock's strength this session comes on top of a solid performance in the prior session. However, weakness in the first part of the week has left the stock on track for a weekly loss of almost 2%. DJ30 -22.52 NASDAQ +7.94 SP500 -3.12 NASDAQ Adv/Vol/Dec 1421/778 mln/1036 NYSE Adv/Vol/Dec 1525/402 mln/1374

11:30 am : Stocks have bounced back a bit after they had extended their slide. Still, the tone to trade remains one of general weakness.

Consumer staples stocks continue to come under selling pressure. The sector is down 1.2%, worse than any other major sector. Of the sector's 41 members, only a handful have managed to make gains. Constellation Brands (STZ 16.81, +0.39), Tyson Foods (TSN 18.40, +0.27), and Kroger (KR 20.05, +0.28) are among the advancers, but Walgreen (WAG 29.29, -0.67), Philip Morris International (PM 43.94, -1.17), and Supervalue (SVU 12.26, -0.23) are at the bottom of the bunch. DJ30 -36.50 NASDAQ +0.68 SP500 -4.47 NASDAQ Adv/Vol/Dec 1339/688 mln/1086 NYSE Adv/Vol/Dec 1414/355 mln/1466

11:00 am : The Nasdaq has been able to put together a modest a gain, but both the Dow and S&P 500 recently ran into a bit of resistance at their respective neutral lines. That resistance has given way to some renewed selling, which has knocked the broader market a leg lower.

Treasuries trade with strength. More specifically, the benchmark 10-year Note is up 18 ticks so that its yield now stands at 3.25% and the 30-year Bond is up a full point so that its yield is down to 4.17%. DJ30 -27.81 NASDAQ +4.41 SP500 -3.88 NASDAQ Adv/Vol/Dec 1370/542 mln/1000 NYSE Adv/Vol/Dec 1466/286 mln/1321

10:30 am : A handful of key commodities are caught in mixed trade this morning. Specifically, oil prices are down 0.8% to $74.85 per barrel, but natural gas prices have been propeled to a 2.9% gain at $4.78 per MMBtu.

In the precious metals space, gold prices are up incrementally to $1223 per ounce. Silver was last quoted with a 0.8% loss at $18.20 per ounce.

Despite the assorted action, the CRB Commodity Index is up 0.5% at the moment. That helps put it on track for a weekly gain of 3.0%, which makes for its best weekly performance since early April. DJ30 -3.40 NASDAQ +13.26 SP500 +0.59 NASDAQ Adv/Vol/Dec 1502/407 mln/812 NYSE Adv/Vol/Dec 1718/221 mln/1018

10:00 am : Stocks have trimmed their losses, such that the Nasdaq now flirts with a gain. The improved tone to trade follows the preliminary Consumer Confidence Survey for June. The survey came in at 75.5, which is up from the prior month reading of 73.6 and above the expected reading of 74.5.

Business inventory data for April was just released. Inventories saw a 0.4% increase during the month, though many had expected it to increase 0.5%. Inventories for March were revised upward to reflect a 0.7% increase. DJ30 -40.51 NASDAQ -0.20 SP500 -3.93 NASDAQ Adv/Vol/Dec 1144/223 mln/1031 NYSE Adv/Vol/Dec 1285/130 mln/1368

09:45 am : Widespread weakness has left the major equity averages to contend with losses in the opening minutes of trade. Selling pressure is most pronounced among defensive-oriented plays like consumer staples stocks (-1.4%), utilities (-1.2%), and telecom (-1.1%).

Of the major sectors in the S&P 500, only health care is higher. The sector currently sports a 0.5% gain as pharmaceutical plays (+0.9%) and health care services stocks (+1.5%) attract buyers. DJ30 -68.40 NASDAQ -9.78 SP500 -6.66 NASDAQ Adv/Vol/Dec 664/126 mln/1443 NYSE Adv/Vol/Dec 649/83 mln/1952

09:15 am : S&P futures vs fair value: -11.30. Nasdaq futures vs fair value: -21.30. A tepid tone in the wake of a strong performance during the prior session has worsened in the wake of a disappointing retail sales report for May. Total retail sales saw their worst slide since September 2009, while sales less autos had their worst drop since March 2009. Both came in the face of a consensus that called for an increase. A retreat by the euro hasn't helped the tone of premarket trade either. The euro had initially extended its recent run against the greenback, but it is now down nearly 0.3% to $1.209. Coming up is the preliminary Consumer Confidence Survey for June from University of Michigan (9:55 AM ET). Business inventory data for April follows (10:00 AM ET). Market participants will take most of their early cues from the reports, given the lack of corporate news flow.

09:00 am : S&P futures vs fair value: -11.60. Nasdaq futures vs fair value: -22.10. Sellers have redoubled their efforts to send U.S. stock futures to morning lows. The weakened tone has imbued action in Europe, where Germany's DAX is now down 0.6% amid weakness in consumer goods stocks (-1.3%), health care stocks (-1.0%), and industrial stocks (-1.0%). Consumer services plays (+0.9%) have provided support, though. France's CAC was up more than 1%, but that has been cut to a 0.3% gain. Still, there is strength in bank stocks (+4.5%). Banking plays have benefited from comments from officials of Banco Santandar (STD) that the crisis in Spain has been blown out of proportion and that the Spanish bank will maintain its dividend. Spain's bank stocks (+6.1%) have lifted the IBEX to a 3.0% gain. Britain's FTSE has managed to hold on to a 0.1% gain, thanks to BP Plc (BP), which continues to rebound from its recent rout. The newfound strength flies in the face of upwardly revised estimates on the flow of leaked oil in the Gulf. In Asia, Japan's Nikkei was pushed 1.7% higher after participants were motivated by a surge on Wall Street Thursday. Advancing issues outnumbered decliners by almost 7-to-1 in the Nikkei. Fast Retailing provided some of the strongest leadership, while KDDI Corp. lagged. Hong Kong's Hang Seng made its way to a 1.2% gain. Global banking outfit HSBC (HBC) was one of its best performers and a primary leader. In contrast, China Unicom (CHU) was the only name in the 43-member index to log a loss. Mainland China's Shanghai Composite only managed to make a modest gain of 0.3%. Its moves were somewhat limited by a barrage of reports, including a reading that showed consumer prices climbed 3.1% and a 7.1% spike in producer price inflation. Industry output was up 16.5% and new lending hit $639.4 billion yuan, which matched data that had been previously leaked. Data leaks earlier this weak had sent the Shanghai Composite up sharply. That move helped the index preserve a weekly gain, which came in at 0.6%.

08:35 am : S&P futures vs fair value: -9.60. Nasdaq futures vs fair value: -20.30. Stock futures have fallen under a sharp flurry of selling following the release of the latest monthly retail sales figures. Advance retail sales for May fell 1.2%, which is a negative surprise since many had expected an increase of 0.2%. Excluding autos, retail sales fell 1.1% in May, though a 0.1% increase had been expected. Figures for the prior month were revised upward to show a 0.6% increase in both total retail sales and retail sales less autos. Still on tap is the preliminary Consumer Confidence Survey for June from University of Michigan at 9:55 AM ET, followed by April business inventory at 10:00 AM ET.

08:00 am : S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: -7.10. Stock futures are flat at the moment. The tepid tone comes after the S&P 500 had surged 3% in the prior session. Those gains helped spur markets in Asia higher overnight, but Europe has only managed mixed gains. The euro continues to climb against the greenback so that it is now at $1.215, up 0.2% this morning. The Advance Retail Sales Report for May is due at the bottom of the hour. The preliminary Consumer Confidence Survey for June from University of Michigan is due at 9:55 AM ET. Business inventory data for April immediately follows at 10:00 AM ET.

06:28 am : S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -4.80.

06:28 am : Nikkei...9705.25...+162.60...+1.70%. Hang Seng...19872.38...+239.70...+1.20%.

06:28 am : FTSE...5173.41...+40.90...+0.80%. DAX...6063.12...+6.60...+0.10%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
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