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 Post subject: August 9th Monday 2010 Emini TF ($TF_F) points +5.80
PostPosted: Thu Aug 12, 2010 12:19 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=77&t=592

Quote:
Today's results are 4 wins : 0 loss (see above #FuturesTrades log). No personal commentary today about my trading of Emini TF of the general market itself. However, you can still read my trades and commentary that were posted in real-time in #FuturesTrades chat room at the above link.


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=120&t=731

Trade Performance for Today: +5.80 points or $580 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures
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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.

U.S. Stocks Advance; S&P 500 at Highest Level Since May: Video
Aug. 9 (Bloomberg) -- Bloomberg's Courtney Donohoe reports on the performance of the U.S. equity market today. U.S. stocks climbed, with the Standard & Poor's 500 Index reaching its highest level in more than two months, amid speculation the Federal Reserve may introduce measures to stimulate economic growth tomorrow.

Stocks Hold Gains Ahead Of Fed
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By Julianne Pepitone, staff reporter
August 9, 2010: 4:37 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended higher Monday as investors signaled modest optimism in the economic recovery, ahead of a highly anticipated statement from the Federal Reserve.

The Dow Jones industrial average (INDU) rose 45 points, or 0.4%, to close at 10,698.75. The S&P 500 (SPX) gained 6 points, or 0.6%, to end at 1,127.79, and the Nasdaq (COMP) added 17 points, or 0.8%, to close at 2,305.69.

Stocks got a boost from expectations that the Fed would strike a more dovish tone after its meeting Tuesday. "Following the payrolls report on Friday, we may see a softer approach from the Fed," said David Jones, chief market strategist at IG Markets in London.

But trading remained quiet as the summer doldrums kicked in. August is historically a down month for the market with low trading volume and many market participants staying on the sidelines.

NYSE volume was only 640 million shares in late trade Monday, with advancers topping decliners about five to two. By comparison, daily volume in July averaged about 950 million shares.

"We've seen some moves up and down but very little in the way of direction," said Jones.

Wall Street ended last week on a negative note, after the government said the economy lost 131,000 jobs last month. But all three major indexes managed to eke out gains for the week.

While the overall jobs number was dismal, a "positive but overlooked" part of the report was also supporting stocks Monday, said Paul Radeke, wealth advisor at KDV Wealth Management.

"After a long time unemployed, the data show some people are starting to consider taking jobs below their old pay scales," Radeke said. "That should help the numbers in the short term."

Eyes on the Fed: With no major economic reports on Monday, investors were already looking toward Tuesday's Federal Reserve meeting on interest rates.

The central bank is widely expected to hold interest rates at historic lows near 0%, a policy that has been in place since December 2008. Investors are eager to see what additional steps the Fed is willing to take to help support the economic recovery, which is turning out to be weaker than many analysts had expected earlier this year.
How rich is rich?

Companies: HP (HPQ, Fortune 500) shares fell Friday after chief Mark Hurd resigned in the wake of a harassment claim was made against him and the company. Shares ended 8% lower Monday.

Apple (AAPL, Fortune 500) confirmed over the weekend that Mark Papermaster, the former IBM executive in charge of the iPhone division, has been replaced by Bob Mansfield. Shares were flat Monday.

Skype, the Internet calling service, announced early Monday that it had filed for a $100 million initial public offering. Skype separated from eBay (EBAY, Fortune 500) in September 2009.

Goldman Sachs (GS, Fortune 500) lost more than $100 million on three separate days during the April to June quarter, according to documents the Wall Street giant filed with the Securities and Exchange Commission, after posting a remarkable "perfect" quarter in the previous three months. But shares stayed flat Monday.

Chrysler said Monday that its its net loss was $172 million in the second quarter, but the company expects to raise guidance for 2010.

Google (GOOG, Fortune 500) and Verizon (VZ, Fortune 500) unveiled a joint proposal for an open Internet standard known as "Net neutrality" on Monday. The proposal would give the Federal Communications Commission authority to regulate wired broadband Internet providers to ensure consumers have access to all legal content and applications on the Internet.
0:00 /3:05Apple sets sights on Exxon value

World markets: European markets rallied, with Britain's FTSE 100, France's CAC 40 and Germany's DAX all ending about 1.5% higher.

In Asia, Japan's Nikkei finished the session 0.7% lower. The Shanghai Composite and Hang Seng both gained about 0.5%.

Currencies and commodities: The dollar gained slightly against the British pound, but weakened against the euro and Japanese yen.

Oil futures for September delivery rose 79 cents to settle at $81.48 a barrel.

Gold futures for December delivery gained $3.40 to $1,208.70 an ounce.

Bonds: Prices for U.S. Treasurys were little changed. The yield on the 10-year note was 2.83%. The government is auctioning $74 billion worth of 3-, 10- and 30-year debt this week as part of its quarterly refunding.

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Yahoo! Finance

4:25 pm : There weren't any catalysts for trade this session, but stocks still made their way solidly higher. Participation was paltry ahead of the FOMC rate decision, though.

Stocks spent the session in the green, but there was never really a leader among them. Instead, gains were broad and varied.

Telecom made the best move. It finished 1.1% higher, though the sector's lack of market weight meant that its strength had little influence on overall trade.

Tech stocks, which is the largest sector by market weight, struggled in the early going, but eventually caught up with the broader market. The sector settled with a 0.5% gain, but computer giant Hewlett-Packard (HPQ 42.60, -3.70) remained near 52-week lows following news that the company's CEO will step down amid sexual harassment claims. The ignominy of situation completely overshadowed the company's upside guidance.

Stocks encountered some choppy price action into the close, such that the major indices finished shy of their session highs. Despite that, stocks were still able to book their best closing levels of the past month. The improvement was fractional, though.

Trade also lacked conviction. That was made evident by the paltry 790 million shares that exchanged hands on the NYSE today. It was the lowest share count all year.

Many point to tomorrow's FOMC decision as a primary reason that traders opted to stay on the sidelines. The consensus is that the FOMC will keep its target interest rate in a range of 0.00% to 0.25%, but many are concerned that the Fed might change the verbiage in its directive.

The greenback gained 0.3% against a basket of foreign currencies ahead of the FOMC decision. Most of that move came at the euro's expense, which directly dropped 0.4% against the dollar.

Advancing Sectors: Telecom (+1.1%), Consumer Discretionary (+0.9%), Energy (+0.6%), Financials (+0.6%), Industrials (+0.6%), Tech (+0.5%), Consumer Staples (+0.5%), Utilities (+0.4%), Materials (+0.4%), Health Care (+0.3%)
Declining Sectors: (None)DJ30 +45.19 NASDAQ +17.22 NQ100 +0.7% R2K +1.4% SP400 +1.0% SP500 +6.15 NASDAQ Adv/Vol/Dec 1763/1.62 bln/880 NYSE Adv/Vol/Dec 2199/789 mln/830

3:30 pm : Commodities were largely mixed this session. As such, the CRB Commodity Index closed flat.

Action among precious metals saw silver prices slide 1.2% to $18.24 per ounce, but gold prices limited their downside to just a 0.2% loss that left prices to settle at $1202.60 per ounce.

As for energy, oil prices pushed 1.0% higher to $81.48 per barrel, but natural gas prices dropped 3.4% to $4.32 per MMBtu. DJ30 +47.12 NASDAQ +17.80 SP500 +5.63 NASDAQ Adv/Vol/Dec 1736/1.27 bln/890 NYSE Adv/Vol/Dec 2146/512 mln/870

3:00 pm : Though still without leadership, stocks recently broke free from their afternoon trading range. The move has taken all three major equity averages to their highest level of the day. What's more, the move has the Nasdaq near its July high and the Dow to its best level in three months. Meanwhile, the S&P 500 is near the one-month highs that it set last week. DJ30 +65.21 NASDAQ +20.69 SP500 +7.53 NASDAQ Adv/Vol/Dec 1732/115 bln/873 NYSE Adv/Vol/Dec 2168/462 mln/813

2:30 pm : Trade remains range bound, but gains among the major indices are still solid. The sideways drift has lasted for the past couple of hours. DJ30 +40.57 NASDAQ +14.52 SP500 +5.07 NASDAQ Adv/Vol/Dec 1619/1.05 bln/974 NYSE Adv/Vol/Dec 2048/417 mln/911

2:00 pm : Stocks continue to chop along in a relatively tight trading range. Though that has made for poor theatre, gains remain steady and solid.

Trading volume has been pathetic this session. Just a couple of hours remain in this session and fewer than 400 million shares have traded hands on the NYSE. The apathy on the part of traders comes as many express uncertainty about what the FOMC will have to say when it issues its latest policy decision tomorrow afternoon. Participation was also restrained last week as participants awaited the monthly jobs report. DJ30 +37.32 NASDAQ +12.81 SP500 +4.64 NASDAQ Adv/Vol/Dec 1564/968 mln/1014 NYSE Adv/Vol/Dec 2054/384 mln/911

1:30 pm : Stocks have eased into a narrow trading range since slipping from their session highs, which were reached around noon ET. The action has kept the stock market's modest gains intact.

Treasuries have had a quiet session amid the listless action of the stock market. Specifically, the benchmark 10-year Note is down just a single tick at the moment. That has kept its yield just a couple of basis points above 3.8%. DJ30 +26.80 NASDAQ +10.33 SP500 +3.43 NASDAQ Adv/Vol/Dec 1570/898 mln/998 NYSE Adv/Vol/Dec 2019/350 mln/921

1:00 pm : Stocks recently chopped their way to session highs, where they sported solid gains, but the move failed to hold amid a lack of leadership.

An absence of domestic data ahead of tomorrow's FOMC decision and a limited number of corporate announcements has left participants without any clear trading cues. In turn, action has generally been choppy and there hasn't been any form of concerted leadership.

Tech stocks, the largest sector by market weight, struggled in the early going, but it has since made its way to a modest gain of 0.3%. However, Hewlett-Packard (HPQ 42.89, -3.41) remains under pressure following news of CEO Mark Hurd's resignation amid sexual harassment claims. HP also issued upside guidance, which may have tempered the negative reaction to the loss of the company's leader.

Financial stocks continue to trail. The sector is currently up just 0.1% as diversified financial services plays succumb to selling.

Telecom has been strong all session, but the sector's lack of weight gives it little sway with the overall trade. Nonetheless, the sector is up 1.3% as Dow components AT&T (T 26.95, +0.41) and Verizon (VZ 29.98, +0.43) test their best levels of the past seven months.

Without any drivers to keep stocks propped up, the stock market has handed back some of its gains in recent trade. The overall mood remains moderately positive, though.

This session's overall gains remain modest, but they are impressive in that they come in the face of a weaker euro. The euro has lagged the dollar all day and recently retreated to a fresh session low, where it now trades with a 0.4% loss against the greenback. In contrast, the yen remains strong, such that the currency is near its best levels of the past decade. Its strength weighed on shares of exporters in Japan's Nikkei, which was the only major average in either Europe or Asia to log a loss. DJ30 +33.00 NASDAQ +11.00 SP500 +3.87 NASDAQ Adv/Vol/Dec 1559/830 mln/993 NYSE Adv/Vol/Dec 2031/316 mln/892

12:30 pm : Stocks have had some trouble holding steady at their recent highs. In turn, the major equity averages have started to hand back some of their gains. Stocks are still generally up modestly for the session, though.

While the broader market is up with mixed gains, airline shares are outperforming. The group, according to the Amex Airline Index, has ascended to a 2.0% gain. DJ30 +35.05 NASDAQ +10.72 SP500 +3.84 NASDAQ Adv/Vol/Dec 1555/754 mln/995 NYSE Adv/Vol/Dec 2031/288 mln/885

12:00 pm : Stocks recently worked their ways to session highs. The move was generally broad based as all 10 major sectors are in the green, but the stock market still lacks any clear form of leadership.

Nonetheless, recent gains come in the face of a stronger dollar. The greenback had dropped to multimonth lows last week, but it has worked its way to a 0.3% gain today.

Despite a seemingly positive tone to trade, volatility is up this session. Specifically, the Volatility Index has climbed 3%. DJ30 +39.70 NASDAQ +11.31 SP500 +3.88 NASDAQ Adv/Vol/Dec 1570/684 mln/944 NYSE Adv/Vol/Dec 2052/256 mln/860

11:30 am : Shares of computer hardware outfit Hewlett-Packard (HPQ 42.90, -3.40) are near the 52-week lows that they set this past Friday. Volume behind the weak price action has already surpassed 100 million shares, which is more than double the next highest volume total for any given session in the past year.

The high volume slide comes in response to news that HP's CEO, Mark Hurd, will resign amid sexual harassment claims. While some analysts argue that the culture of HP will remain strong, others are concerned that the loss of leadership will leave the company vulnerable. As a sign of strength, HP issued upside guidance following last week's close, which was also when news of Hurd's departure began to make its rounds. DJ30 +41.10 NASDAQ +11.76 SP500 +4.48 NASDAQ Adv/Vol/Dec 1496/596 mln/978 NYSE Adv/Vol/Dec 2056/225 mln/818

11:00 am : The broader market has chopped its way back to a modest gain, although there isn't much in the way of leadership at the moment.

While it lacks any real sway with the overall market, telecom has put together an impressive advance so that it is now up 1.1%. The sector's relative strength is underpinned by integrated telecom giants and Dow components AT&T (T 26.88, +0.34) and Verizon (VZ 29.93, +0.38). There are no news items surrounding the two stocks, but shares of the two companies are testing their best levels of 2010. DJ30 +33.46 NASDAQ +8.57 SP500 +3.34 NASDAQ Adv/Vol/Dec 1393/499 mln/1022 NYSE Adv/Vol/Dec 1926/188 mln/882

10:35 am : Strength in the dollar index has pushed most commodities to new session lows in morning trade. Overall, the CRB Index remains in positive territory, but well off today's highs.

September crude oil was trading near morning highs of $81.76 per barrel before quickly reversing around 9:00am back to the flat line of around $80.70. Currently, crude is trading 0.7% higher at $81.26 per barrel. September natural gas was having an uneventful morning, trading near the unchanged line. In recent action though, natural gas fell into the red around 9:30am ET and just hit new session lows of $4.41 per MMBtu. Natural gas is currently 1.6% lower at $4.40 per MMBtu.

Precious metals followed the energy market lower this morning, but gold is back near the unchanged line. Earlier this morning, less than two hours ago, gold initially dipped into negative territory and to new morning lows of $1201.40 per ounce, but rose back into positive territory within the hour and is currently up $1.60 at $1203.70 per ounce. Silver, on the other hand, fell around the same time, but posted larger losses, finally hitting morning lows of $18.26 per ounce. Silver has recovered a portion of its losses, but still remains in the red, down 0.9% at $18.31 per ounce.DJ30 +14.69 NASDAQ +6.45 SP500 +0.96 NASDAQ Adv/Vol/Dec 1333/370.4 mln/1019 NYSE Adv/Vol/Dec 1742/141.9 mln/1010

10:00 am : The stock market's choppy start has given way to a minor slide that has taken the Dow and S&P 500 down to the neutral line.

Tech stocks and financial stocks have been a negative influence in the early going and health care stocks haven't helped. The three sectors, which are the largest by market cap and represent almost half of the weight in the S&P 500, are all in the red.

Advancing Sectors: Telecom (+0.7%), Consumer Discretionary (+0.5%), Consumer Staples (+0.4%), Utilities (+0.3%), Energy (+0.2%), Industrials (+0.2%), Materials (+0.1%)
Declining Sectors: Financials (-0.3%), Tech (-0.2%), Health Care (-0.1%)DJ30 +5.26 NASDAQ +3.03 SP500 -0.02 NASDAQ Adv/Vol/Dec 1189/220 mln/1045 NYSE Adv/Vol/Dec 1665/94 mln/1003

09:45 am : The major equity averages are up just modestly at the moment. Underlying action is a bit mixed.

Financials are under an early bout of pressure. As such, the sector is down 0.3% amid weakness in diversified financial services plays like Citigroup (C 4.03, -0.04), JPMorgan (JPM 39.90, -0.54), and Bank of America (BAC 13.82, -0.14).

In contrast, retailers are solid. The group is up 1.1%, which has been enough to boost the consumer discretionary sector to a 0.8% gain. DJ30 +12.57 NASDAQ +6.21 SP500 +1.36 NASDAQ Adv/Vol/Dec 1279/138 mln/891 NYSE Adv/Vol/Dec 1785/67 mln/820

09:15 am : S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +7.30. Stock futures suggest that the week is set to make a solid start. The positive tone comes amid strong gains among Europe's major bourses and solid advances by the Shanghai Composite and Hong Kong's Hang Seng, though Japan's Nikkei was weakened shares of exporters that were hurt by strength in the yen. Continued strength in the Japanese yen has the currency near its best levels of the past decade. In contrast, the euro is down against the dollar after setting a fresh three-month high this past Friday. Earnings season has started to slow, so there are fewer corporate headlines of consequence this morning. However, Hewlett-Packard (HPQ) has been thrown into the center of business media's attention due to the resignation of company CEO Mark Hurd amid sexual harassment claims. Despite the ignominy of the situation, the company also came out with upside guidance. There hasn't been any domestic economic data put out this morning, so participants are putting their focus on the fact that tomorrow brings the the latest FOMC policy decision.

09:00 am : S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +7.50. The dollar is up just 0.1% against a basket of major foreign currencies this morning. Most of the move comes at the expense of the euro, which has shed 0.2% to now trade at $1.325, which is just shy of the three-month high of $1.333 that was registered this past Friday. Meanwhile, the yen has made its way to almost 85.7 yen per dollar. That puts it just shy of the decade-high of 84.8 that was seen in November. In commodities trade, oil prices are up 1.0% to $81.50 per barrel during the first few moments of pit trade. Gold prices have gained just 0.1% to trade at $1205 per ounce.

08:35 am : S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +7.50. U.S. stock futures continue to trade with relative strength. Meanwhile, Germany's DAX is up 1.3% following news that the country's exports for June increased a stronger-than-expected 3.8% month-over-month and its imports made a surprise 1.9% month-over-month increase. Given the size of the country's economy, the data is thought to portend positive things for economic activity in Europe. Industrial stocks have seen the strongest response. The group is up 2.2% in the German bourse. In France, the CAC is up 1.6%. Oil and gas plays are its strongest as they climb to a 2.2% gain. Financials aren't far behind; they are up 2.0%. Britain's FTSE has made its way to a 1.5% gain. Broad-based buying has 95% of its holdings in positive territory and all 10 major sectors up markedly, but the best gains are coming from financials (+1.7%) and oil and gas plays (+1.6%). BP (BP) has been an individual leader amid broad market support and news that it continues to progress in its efforts to plug its problematic Gulf oil well.

In Asia, Japan's Nikkei surrendered 0.7% as the yen climbed against the greenback back toward multiyear highs. Of the Nikkei's major sectors, only utilities (+0.6%) and consumer services (+0.2%) advanced. In Hong Kong, the Hang Sang advanced 0.6%. Consumer goods stocks and consumer services plays were led by Li & Fung LTD and MTR Corp, respectively. Mainland China's Shanghai Composite climbed 0.5%. Zhongjin Gold and Shandong Gold were primary sources of strength, but banking issues faltered as Industrial & Commercial Bank and Bank of China fell.

08:00 am : S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +7.80. Stock futures are up markedly amid strength in Europe, where the major bourses are all up in excess of 1% following news that Germany's June exports increased a stronger-than-expected 3.8% month-over-month and its imports made a surprise 1.9% month-over-month increase. There are no U.S. economic items scheduled for release today, but data picks up tomorrow with second quarter productivity figures, monthly wholesale inventories, and the FOMC rate decision. Corporate news flow is light, but many are still abuzz about the resignation of Hewlett-Packard (HPQ) CEO Mark Hurd. The company announced the resignation late Friday and simultaneously issued upside guidance.

07:26 am : S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.30.

07:26 am : Nikkei...9572.49...-69.60...-0.70%. Hang Seng...21801.59...+122.80...+0.60%.

07:26 am : FTSE...5408.22...+75.80...+1.40%. DAX...6339.65...+80.00...+1.30%.

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
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