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 Post subject: June 18th Friday 2010 Emini TF ($TF_F) points -0.90
PostPosted: Sun Jun 20, 2010 7:51 am 
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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=548

Quote:
Today's results are 7 wins : 7 losses : 1 breakeven (see above #FuturesTrades log). Tough trading day due too two key missed trades while trading involving the Volatility Trading Report (VTR) at today's key swing points. In contrast, most of the trades were intuition and it was about breakeven amongst the intuition trades.

Trading Tip: If you don't care about what you trade as long as it's one of the most liquid futures...take a look at this list of liquid trading instruments @ http://www.traders.com/Documentation/FEEDbk_docs/content.html?FutLiq


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=115&t=681

Trade Performance for Today: -0.90 points or -$90 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures

1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.
------------------------------

The market summaries below are courtesy of Bloomberg, CNNMoney and Yahoo! Finance. gm


http://www.youtube.com/v/r-elyFlBwuU

Stocks End Higher For Second Week
By Alexandra Twin, senior writer
June 18, 2010: 6:23 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended a choppy session higher Friday, with the market managing to carve out a second consecutive week of gains as buyers dipped back in after the May sell-off.

The Dow Jones industrial average (INDU) added 16 points or 0.2%, the S&P 500 index (SPX) added 1 point or 0.1% and the Nasdaq composite (COMP) added 2 points or 0.1%.

The Dow gained 2.3%, the S&P gained 2.4% and the Nasdaq gained 3%. Stocks rallied last week as well.

Investors contended Friday with the quadruple options expiration, a quarterly event in which stock index future and options and individual stock futures and options were all expiring simultaneously. The process can create increased volatility in the underlying issues, particularly in the last hour of trade.

But stocks were a bit directionless amid a lack of market-moving corporate or economic news - and the fact that it was a Friday before a summer weekend. The direction over the short term is likely to stay volatile.

"It's going to be pretty choppy until the next big monthly jobs report comes out and the second-quarter earnings start in," said Ron Kiddoo, chief investment officer at Cozad Asset Management.

He said that on the upside, the correction that took the S&P 500 down about 14% in six weeks seems to be over for now. However, any gains in the weeks ahead are likely to be tepid amid the summer doldrums and ongoing questions about both Europe and the United States economy.

Worries about the fiscal debt crisis and the fallout from the BP oil spill were among the factors that led to the market's sell-off. Both issues continue to influence markets, but less dramatically than they did a month ago.

COMEX gold for August delivery closed up $9.60 at a record high of $1258.30. Gold hit a trading record of $1,263.70 during the session.

The week ahead brings reports on housing, jobs and the latest policy meeting from the Federal Reserve.
0:00 /1:00New video of BP oil leak

Europe: Stocks managed to rise Thursday at the end of a choppy session in which tepid reports on jobs and manufacturing vied with positive news out of Europe, where an auction of Spanish bonds saw strong demand.

With Greece's fiscal problems well known, the focus of late has turned to Spain and its ballooning debt, amid talk that it might need a bailout from European officials.

On Friday, European officials said Greece was moving forward in its efforts to cut its deficit. Separately, officials said they would release results of bank "stress tests," much as the U.S. did in the aftermath of the bank crisis here.
6 biggest bank blunders

BP: Shares of BP (BP) ended little changed, erasing morning gains.

Investors weighed news that Moody's has downgraded its debt by three notches, but still kept it at investment grade. Fellow ratings agency Standard & Poor's cut BP's debt Thursday as the oil firm continues to struggle in the aftermath of the Gulf spill.

On Thursday, BP's CEO Tony Hayward was grilled by U.S. lawmakers who lambasted him for being oblivious to the risks that led to the spill and for not cooperating fully with investigators in its aftermath.

Earlier this week, BP said it was canceling its quarterly dividend and agreed with President Obama's request that it establish a $20 billion fund to cover Gulf damages.

On the move: Gains petered out with just select shares rising. Among the Dow's movers, Boeing (BA, Fortune 500), Caterpillar (CAT, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wal-Mart Stores (WMT, Fortune 500) all gained.

Market breadth was mixed. On the New York Stock Exchange, winners beat losers eight to seven on volume of 1.77 billion shares. On the Nasdaq, advancers beat decliners seven to six on volume of 1.56 billion shares.

Euro: The euro was barely changed versus the dollar, which fell 0.4% against the yen.

World markets: European markets were little changed. Britain's FTSE 100 ended just below unchanged, Germany's DAX lost 0.1% and France's CAC 40 climbed 0.1%.

Asian markets were mixed. Japan's Nikkei was little changed, Hong Kong's Hang Seng rose 0.7%, China's Shanghai Composite lost 1.8%.

Commodities: U.S. light crude oil for July delivery rose 39 cents to settle at $77.18 a barrel on the New York Mercantile Exchange.

Bonds: Treasury prices tumbled, raising the yield on the 10-year note to 3.22% from 3.19% late Thursday. Treasury prices and yields move in opposite directions.

Image

Yahoo! Finance

4:10 pm : With little leadership, stocks remained near the flat line for most of the session after reaching their highest levels in mid-morning trading. The S&P 500 traded in a seven point range throughout the session with most of the trading occuring between 1115 and 1118.

Energy shares led throughout the session, but received little help from BP (BP 31.77, +0.06) following yesterday's Congressional hearing on Capitol Hill.

Earlier this morning gold hit an all-time high near $1264 per ounce before pulling back and settling at $1258.30 in pit trading. Materials stocks gave back early gains, but were still able to close in positive territory. As expected, SPDR Gold Fund (GLD 122.82, +0.92) benefited from the move higher in the yellow metal.

Shares of Walgreen (WAG 30.05, +0.78) and CVS (CVS 32.45, +0.61) were among the biggest gainers after the two companies announced a new PBM pharmacy agreement.

Next week look for housing data on Tuesday and Wednesday, durable goods and jobless claims on Thursday, and the third estimate for first quarter GDP on Friday. All of those data releases have the potential to move the markets. DJ30 +16.70 NASDAQ +2.64 SP500 +1.48 NASDAQ Adv/Vol/Dec 1435/1.95 bln/1215 NYSE Adv/Vol/Dec 1680/1.75 bln/1336

3:35 pm : The CRB Commodity index closed fractionally lower this session. Strength in precious metals and grains was offset by selling in energy and industrial commodities.

August gold futures reached a new all-time high for the most active contract at $1263.70 per ounce. It also set a new all-time closing high at $1258.02 per ounce. August gold closed 0.7% higher this session.

July silver rose 2.1% to close at $19.17 per ounce. Silver futures are up 11.5% since June 7 and about 30% since early February.

Copper, nickel and aluminum all traded lower in excess of 1%.

Energy commodities were also weak, led by a 3.1% decline in natural gas futures. The July contract closed at $5.01 per MMBtu, erasing most of the prior session's gains. Crude oil was the sole energy commodity to close higher. It finished at $77.18 per barrel, up 0.5%. DJ30 +16.62 NASDAQ +0.60 SP500 +0.58 NASDAQ Adv/Vol/Dec 1248/1.52 bln/1348 NYSE Adv/Vol/Dec 1585/1.12 bln/1422

3:00 pm : Stocks are near their highs of the afternoon, but still remain below this morning's levels. The afternoon highs don't account for much as gains range from 0.1% to 0.2% for the major indices.

Financials are near their highs of the session, up 0.4%, as the sector found a bid about an hour ago. JP Morgan Chase (JPM 39.20, +0.77), US Bancorp (USB 23.51, +0.44), and Genworth Financial (GNW 15.24, +0.32) are all posting solid gains near 2% and outperforming the financial sector. DJ30 +25.69 NASDAQ +2.27 SP500 +1.95 NASDAQ Adv/Vol/Dec 1296/1.37 bln/1306 NYSE Adv/Vol/Dec 1658/1.04 bln/1330

2:30 pm : Stocks remain near the flat line, but have found a small bid over the last half hour with the major indices up fractionally. Although volume appeared strong early in the session, it has been surprisingly weak for an options expiration day. The last hour of trading my experience more volatility as traders jockey for position before expiration. DJ30 +16.17 NASDAQ +1.63 SP500 +1.16 NASDAQ Adv/Vol/Dec 1265/1.29 bln/1315 NYSE Adv/Vol/Dec 1602/983 mln/1376

2:00 pm : With no market moving news, stocks look for leadership in an uneventful Friday trade. All three major indices remain flat.

Shares in CBOE Holdings (CBOE 30.88, -0.62) are trading near their lowest level since Tuesday's IPO. After trading as high as 33.75 on Tuesday, its initial day of trading, the stock has dropped the last three days on extremely light volume. Other stocks in the space are mixed with CME Group (CME 307.78, -1.74) trading lower by 0.4% and NYSE Euronext (NYX 29.77, +0.31) higher by 1.1%. DJ30 +5.67 NASDAQ -2.05 SP500 -0.05 NASDAQ Adv/Vol/Dec 1169/1.20 bln/1391 NYSE Adv/Vol/Dec 1536/943 mln/1443

1:30 pm : Choppy trade continues as the major indices search for direction. All three indices continue to trade near the flat line with the Dow up close to 15 points. The VIX hit its lowest level since early May, before finding support from its 200-day moving average. DJ30 +14.89 NASDAQ +0.31 SP500 +0.72 NASDAQ Adv/Vol/Dec 1231/1.13 bln/1323 NYSE Adv/Vol/Dec 1576/906 mln/1379

1:00 pm : The quarterly expiration of options has caused a surge in trading volume, but a lack of catalysts has made for choppy, range bound trade.

An absence of leadership has made it difficult for stocks to sustain gains this session. In turn, trade has been mostly mixed. At the moment, energy stocks (+0.5%) are in the best shape. The sector has been helped by a bounce in oil prices, which had been down approximately 1% in early pit trade, but have since made their way to a fractional gain at $76.85 per barrel.

Embattled BP (BP 32.03, +0.32) has been a laggard, though market participants were hardly surprised that Moody's downgraded BP after S&P had downgraded the company yesterday.

Walgreen (WAG 30.29, +1.02) and CVS (CVS 32.81, +0.97) are atop this session's list of biggest gainers by percent. Their strength follows news that the pair has reached a new PBM pharmacy agreement.

Gold stocks have also fared well this session. As such, the SPDR Gold Fund (GLD 123.27, +1.37) is up markedly. Strength among gold plays has been underpinned by a strong move in gold prices, which are currently at $1261 per ounce with a 1.1% gain. Gold set a new record high near $1264 per ounce, even though there haven't been any unsettling geopolitical events, renewed sovereign debt concerns, considerable currency swings, or episodes of heightened volatility.

Health care stocks are at the other end of things. The sector is currently down 0.6% amid weakness in health care facilities and services stocks falter.

Though there have been a few pockets of strength, overall trade has been lackluster. Still, there's been plenty of participation this session. The quarterly expiration of options has already sent trading volume on the NYSE toward 900 million shares -- during the past 50 sessions share volume on the NYSE has averaged 1.44 billion shares. The greatest surge in trading volume came in the first hour of the session. Another surge is expected in the final hour of trade. So far, Citigroup (C 3.99, +0.03) and Bank of America (BAC 15.85, +0.03) are atop the list of this session's most actively traded names by volume. DJ30 +1.74 NASDAQ -3.22 SP500 -0.50 NASDAQ Adv/Vol/Dec 1132/1.08 bln/1392 NYSE Adv/Vol/Dec 1458/878 mln/1480

12:30 pm : Persistently choppy trade has taken the stock market back to the neutral line. Still, the choppy action has been confined to a rather narrow trading range. In turn, volatility has cooled, such that the Volatility Index is down nearly 5%. DJ30 +4.00 NASDAQ -3.00 SP500 -0.26 NASDAQ Adv/Vol/Dec 1185/994 mln/1322 NYSE Adv/Vol/Dec 1506/839 mln/1408

12:00 pm : Stocks are still on the slide, but they remain in positive territory. The recent retreat has been generally broad based, but energy stocks are still near their best levels of the session with a 0.7% gain.

The energy sector has been helped by a bounce in oil prices, which are now up 0.5% to $77.20 per barrel after they had been down approximately 1% in early pit trade.

Embattled oil and gas giant BP (BP 31.77, +0.06) has lagged, though. Shares of BP had traded with strength in the early going, but they have been caught in a downdrift more recently. Market participants met news that Moody's issued a ratings downgrade on BP with a muted reaction. The decision came as little surprise given that S&P had downgraded BP yesterday. DJ30 +15.94 NASDAQ +4.75 SP500 +1.37 NASDAQ Adv/Vol/Dec 1412/898 mln/1078 NYSE Adv/Vol/Dec 1682/798 mln/1206

11:30 am : The stock market has handed back a portion of its gain. Still, the mood on trading floors remains more upbeat than the rather subdued mood that was exhibited ahead of the opening bell.

Trading volume is up sharply this session, but that is because of the quarterly expiration of options. Just a couple of hours into the session, share volume on the NYSE is already more than half of the average total trading volume that the NYSE has seen over the past 50 sessions.

Of this session's most actively traded names by volume, diversified financial services stocks of Citigroup (C 3.99, +0.03) and Bank of America (BAC 15.85, +0.03) are atop the list. DJ30 +20.93 NASDAQ +6.59 SP500 +1.58 NASDAQ Adv/Vol/Dec 1466/810 mln/995 NYSE Adv/Vol/Dec 1727/755 mln/1132

11:00 am : Stocks have extended their recent upturn so that they now trade at fresh session highs with modest gains.

Materials stocks have jumped out to a 0.9% gain, which makes it the best performing sector in the S&P 500. The materials sector is currently led by gold stocks (+2.4%) and diversified chemicals stocks (+1.5%). Aluminum plays (-0.6%) are weak, though.

Defensive plays are still under pressure. As such, telecom stocks are down 0.3%, utilities are down 0.2%, and health care stocks are down 0.1%. DJ30 +48.37 NASDAQ +14.43 SP500 +4.88 NASDAQ Adv/Vol/Dec 1600/695 mln/825 NYSE Adv/Vol/Dec 1896/701 mln/928

10:30 am : The stock market has made its way back into higher ground, but underlying action remains a bit mixed.

Commodities are also caught in mixed trade. That has left the CRB Commodity Index to trade with a 0.4% loss.

Oil prices have managed to reverse their losses. They had been down approximately 1% in early pit trade, but now the commodity is up with a fractional gain at $76.85 per barrel.

Natural gas prices are under stiff pressure, though. The commodity is currently being priced at $5.07 per MMBtu, down 1.8%.

Precious metals are another story. Gold prices climbed to a new record high of $1260.90 per ounce earlier this morning. The yellow metal has since eased back to $1256.40 per ounce, where it trades with a 0.7% gain.

Meanwhile, silver prices were last quoted with a 1.6% gain at $19.07 per ounce. DJ30 +21.76 NASDAQ +7.54 SP500 +2.57 NASDAQ Adv/Vol/Dec 1401/566 mln/927 NYSE Adv/Vol/Dec 1637/645 mln/1127

10:00 am : Stocks have slipped into negative territory. The move has been modest, though.

While the broader market has fallen under a fit of selling, consumer staples stocks are up with relative strength for the second straight session. The sector is currently up 0.3% and led by Walgreen (WAG 30.56, +1.29) and CVS (CVS 32.90, +1.06), which have reacted positively to news that the companies have reached a new PBM pharmacy agreement.

Advancing Sectors: Consumer Staples (+0.3%), Materials (+0.1%)
Declining Sectors: Energy (-0.4%), Utilities (-0.3%), Health Care (-0.3%), Telecom (-0.2%), Financials (-0.1%), Industrials (-0.1%), Consumer Discretionary (-0.1%)
Unchanged: Tech DJ30 -7.56 NASDAQ -3.04 SP500 -1.52 NASDAQ Adv/Vol/Dec 985/440 mln/1262 NYSE Adv/Vol/Dec 1158/580 mln/1552

09:45 am : The stock market is up slightly at the moment, but early action has been choppy. Materials stocks (+0.6%) have been a source of support, so far; they are led by Newmont Mining (NEM 60.44, +0.76) for the second straight session. Newmont's move comes after gold prices climbed to new record highs above $1260 per ounce earlier this morning -- gold is currently at $1256 per ounce with a 0.7% gain.

While gold is up, oil is down. The price for a barrel of crude oil currently stands at $76.20, down 0.8%. That has weighed on the energy sector, which is currently down 0.5% to trade with the worst loss of any major sector in the S&P 500. DJ30 +19.65 NASDAQ +1.80 SP500 +1.11 NASDAQ Adv/Vol/Dec 1174/365 mln/1003 NYSE Adv/Vol/Dec 1384/545 mln/1240

09:15 am : S&P futures vs fair value: -1.60. Nasdaq futures vs fair value: -2.00. The stock market heads into Friday with a week-to-date gain of more than 2%, but most of that is owed to a single surge earlier this week. Otherwise, most of this week's action has been both listless and lackluster. Continuing with that theme, index futures point to a flat-to-slightly lower start for the week's final session. The tepid tone comes amid a lack of corporate news items and an absence of economic data. Trade in Europe has also been underwhelming and Asia's markets moved in mixed fashion. There haven't been any meaningful movements in currencies to provide market participants with trading cues, either -- the dollar is currently flat against a basket of foreign currencies, while the euro is down fractionally against the greenback. Despite the lack of action among equity futures, gold futures have garnered considerable support this morning; the yellow metal's price made its way to a new record high above $1260 per ounce earlier and remains just shy of that mark. Gold's gain comes ahead of what could be a session of heightened volume and volatility, given the quarterly expiration of options today.

09:00 am : S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: -1.80. Commodities are a bit mixed in early pit trade. Specifically, oil prices are down 1.0% to $76 per barrel, but gold prices recently pushed past $1260 per ounce to set a new record high. Gold futures prices are currently at $1257 per ounce with a 0.8% gain.

08:30 am : S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -3.80. S&P 500 futures have slipped a bit. Action is also generally lackluster in Europe, where Germany's DAX is currently flat. Its advancers and its declining issues are nearly split evenly. Daimler (DAI) has been a source of support for the second straight session. Meanwhile, E.On AG has been a considerable drag on trade. In France, the CAC is down 0.2%. Financial issues Societe Generale, Credit Agricole, and BNP Paribas have been key sources of support, while Sanofi-Aventis (SNY) acts as a weight. In Britain, the FTSE is up 0.2% at the moment. BP Plc (BP) is a leader as market participants dismiss news that the company's debt was downgraded by Moody's. Many had expected such a decision since S&P had issued a downgrade yesterday. In contrast, GlaxoSmithKline (GSK) has come under a bout of stiff selling. In Asia, China's Shanghai Composite lost 1.8% after an economic advisor on the PBOC's monetary policy committee said that the country's economic growth might slow in the second half of this year. Declining issues outnumbered advancers by more than 13-to-1 in the index. PetroChina (PTR) and Industrial & Commercial Bank were two of the weakest plays. However, Industrial & Commercial Bank was strong on Hong Kong's Hang Seng, which advanced 0.7%. Other banking issues like HSBC (HBC) and China Construction Bank also provided leadership. China Unicom lagged, though. In Japan, the Nikkei was flat. Honda Motor (HMC) was a primary source of weakness, which offset strength in Softbank Corp and Fast Retailing, which advanced for its sixth time in seven sessions.

08:00 am : S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: flat. Stock futures are flat this morning. So is the dollar. The calm comes amid a lack of corporate news items and an empty economic calendar. Despite the absence of such trading catalysts, market participants could see some heightened volume and volatility, given the quarterly expiration of options today. Though the mood among equity futures traders remains subdued, for now, gold futures prices were recently pushed to new record highs of $1260.90 per ounce, up 0.9%. Gold has since eased back to trade at $1256.70 per ounce.

07:00 am : S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -1.50.

07:00 am : Nikkei...9995.02...-4.40...0.00. Hang Seng...20286.71...+148.30...+0.70%.

07:00 am : FTSE...5240.49...-13.40...-0.30%. DAX...6193.71...-30.00...-0.50%.

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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