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 Post subject: August 25th Wednesday 2010 Emini TF (No Trades)
PostPosted: Mon Aug 30, 2010 6:53 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3202
Location: Canada
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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=604

Quote:
Today's results are NO TRADES (see above #FuturesTrades log). On vacation (no trading) from Aug 23rd Mon - Aug 25th Tues. Then will only trade the first hour of trading on Aug 26th Thurs and Aug 27th Fri because I have personal appointments that includes getting the kids ready for their first week of school.

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 and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=119. However, you must join the TSL Support Forum to access the free study guide. To register...click here.

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

------------------------------

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

U.S. Stocks Advance Despite Housing, Durable Goods Data: Video
Aug. 25 (Bloomberg) -- Bloomberg's Courtney Donohoe reports on the performance of the U.S. equity market today. U.S. stocks rose, with the Dow Jones Industrial Average recovering from an early 102-point slide, as investors speculated that recent declines in equities overshot the potential damage from a slowdown in the economy.

Stocks Recover From Housing Blues
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By Blake Ellis, staff reporter
August 25, 2010: 4:51 PM ET

NEW YORK (CNNMoney.com) -- Stocks finished higher Wednesday after spending most of the day in the red, following another round of dismal housing news.

The Dow Jones industrial average (INDU) gained 20 points, or 0.2%, the S&P 500 (SPX) rose 3 points, or 0.3%, and the Nasdaq (COMP) composite climbed 18 points, or 0.8%.

Stocks sold off sharply immediately after the housing data but managed to recoup some losses as homebuilding and housing material stocks crept higher.

Lennar Corp., (LEN) KB Home (KBH) and Toll Brothers (TOL) all gained more than 3%.

"[It's] a sign that they had priced in the bad news, and this has allowed the rest of the market to come back," said Peter Boockvar, chief market strategist with Miller Taback & Co.
Housing's a wreck. Builders rally. Huh?

But the same news that lifted homebuilding stocks battered the financial sector, with big names like Wells Fargo (WFC, Fortune 500) and Citigroup (C, Fortune 500) edging lower.

"[Banks] have given back the entire year of gains because they are holding mortgage-related debt," said Boockvar. "House prices have taken a leg down because of this data, and if a person pays less for a home, this hurts a bank's balance sheet."

On Tuesday, stocks sank after a 27% plunge in existing home sales fueled worries about an economic slowdown, sending the Dow 134 points lower on the day.

Last week, the Dow and S&P ended down for a second straight week as disappointing economic reports slammed investor confidence.

"It's been a brutal few weeks," said Phil Orlando, chief equity market strategist at Federated Investors. "Stocks are extraordinarily cheap and oversold at this point, but the question is, are they sufficiently cheap to discount the economic weakness?"

Economy: New home sales unexpectedly plummeted to the lowest level on record in July, dropping 12.4% in July, the government reported. Economists had expected sales to bump higher.
The best moves for home buyers and sellers

The disappointing data comes right on the heels of another dismal housing report on Tuesday, which showed a sharp drop in existing home sales.

Meanwhile, new orders for long-lasting goods fell short of forecasts, edging up a modest 0.3% in July. Economists had expected the government report to show a 3% jump.

Companies: Homebuilder Toll Brothers (TOL) booked its first quarterly profit in three years on Wednesday, thanks largely to a boost from the homebuyer tax credit.

The company said net income was $27.3 million in the quarter, or 16 cents per share, after posting a loss of $472.3 million, or $2.93 a share, a year ago. Shares of Toll Brothers rose 6%.
0:00 /1:16Toll Brothers' tax boost

World markets: European shares slumped. The CAC 40 in France sank 1%, Britain's FTSE 100 lost 0.9%, while the DAX in Germany ended 0.6% lower.
0:00 /37:05'Uncertainty' threatens U.S. economy

Late Tuesday, Standard & Poor slashed Ireland's sovereign debt rating to double-A-minus due to the massive cost of bailing out the nation's banks.

Asian markets also ended lower. Japan's benchmark Nikkei index dropped 1.7%, hitting a 16-month low. The Hang Seng in Hong Kong shed 0.1%, and the Shanghai Composite sank more than 2%.

Currencies and commodities: The dollar fell against the euro and the British pound, but firmed versus the Japanese yen.

Oil futures for October delivery gained 89 cents to settle at $72.52 a barrel. Gold for December delivery rose $7.90 to settle at $1,1241.30 an ounce.

Bonds: The yield on the 10-year note rose to 2.54%, bouncing off a 19-month low of 2.49% on Tuesday.

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)
Skype Messenger: kebec2002
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