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 Post subject: September 13th Monday 2010 Emini TF ($TF_F) points +4.00
PostPosted: Tue Sep 21, 2010 6:10 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=78&t=619

click on the below image to view normal size

Trade Performance for Today: +4.00 points or $400 dollars in the ICE Russell 2000 Emini TF ($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.

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=121&t=761

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

Stocks: Investors Find Reason To Cheer
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By Julianne Pepitone, staff reporter
September 13, 2010: 4:31 PM ET

NEW YORK (CNNMoney.com) -- Stocks finished higher Monday as new global banking rules, upbeat economic data from China and some acquisition activity helped boost investor sentiment.

The Dow Jones industrial average (INDU) added 0.8% to end at 10,544.13. The S&P 500 (SPX) rose 1.1% to close at 1,121.90, and the Nasdaq (COMP) led the gains with a 1.9% jump to 2,285.71.

Markets around the world gained on news of the global banking agreement. The historic new reform will force financial institutions to more than double their capital reserves as a cushion protecting against future meltdowns.

Stocks posted modest gains in a light trading session Friday, as ongoing worries about the economy dampened enthusiasm over an increase in wholesale inventories.

Several economic reports are on tap for the week, and investors are also likely to focus on tax policy as lawmakers return from recess. Congress is expected to work on possible legislation to extend the Bush tax cuts.

Banking shares get a boost: The bank reform came after top central bankers met in Basel, Switzerland, over the weekend. The new rules would require financial institutions to increase their core capital cushions to at least 4.5% of assets, up from the current 2%.

Banks will have until 2019 before the rules come into full force -- a longer timeline than some had predicted.

But that relief will likely be short-lived, said Steven Goldman, market strategist at Weeden & Co.

"This is more a help for overseas banks rather than the U.S.," Goldman said. "Our markets are riding global stocks higher today, but it won't be sustained."

Bank stocks rallied, and the KBW Bank Index (BKX) soared to close 3.1% higher.

Shares of JPMorgan Chase (JPM, Fortune 500), PNC Bank (PNC, Fortune 500) and BB&T (BBT, Fortune 500) also surged to end up about 3%. Shares of Marshall and Ilsley (MI), based in Milwaukee, leapt 4.5%.

Companies: Hewlett-Packard (HPQ, Fortune 500) announced it has agreed to acquire cyber-security firm ArcSight (ARST) for $1.5 billion, or $43.50 per share -- a 24% premium over the stock's Friday closing price.

Shares of ArcSight surged to end 25.1% higher.

Rental car company Hertz Global Holdings (HTZ, Fortune 500) said Monday that it had raised its offer for Dollar Thrifty Automotive (DTG), to $50 per share, or $1.56 billion. Dollar Thrifty shares rose to close up 5.4%, while Hertz added 7.8%.

In April, Hertz originally offered to pay $1.2 billion to acquire its rival, but competing car rental company Avis (CAR, Fortune 500) later offered $1.36 billion for the company.

Genzyme said it will sell its genetic testing unit to Laboratory Corp. of America Holdings for $925 million. Last month, Sanofi-Aventis went public with an $18.5 billion cash offer for Genzyme, with the French firm hinting it may consider a hostile takeover if Genzyme refuses to talk.

Genzyme (GENZ, Fortune 500) shares closed down by almost 0.8%, while Laboratory Corp. (LH, Fortune 500) was fell almost 5%.

Xerox (XRX, Fortune 500) shares ended almost 8% higher after a favorable article in Barron's said chief executive Ursula Burns is rebranding the copier giant as a data-services provider.

Economy: In a Saturday report, China reported stronger-than-expected growth in its industrial sector in August. Inflation in the country also accelerated last month, driven by rising food prices.

The data spurred China's central bank on Monday to set the yuan's daily reference rate at its highest level against the dollar since it scrapped its peg against the greenback in 2005.
China's inflation battle intensifies

New pressure has been building on China to let its currency increase in value. Treasury Secretary Timothy Geithner told The Wall Street Journal that China's decision in June to end its peg to the dollar was an "important step ... but they've done very, very little ... in the interim."

The Treasury Department released August budget numbers, which showed a $90.5 billion deficit in the month, following a shortfall of $103.6 billion in July.

World markets: The Basel bank reform helped European markets finish higher. The CAC 40 in France rose 1.1%, the DAX in Germany climbed 0.8% and Britain's FTSE 100 added 1.2%.
0:00 /2:442010: A repeat of 2008 crisis?

Asian markets ended higher. Japan's benchmark Nikkei index rose 0.9%, the Hang Seng in Hong Kong surged 1.9% and the Shanghai Composite ended 0.9% higher.

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

Oil for October delivery rose 74 cents to settle at $77.19 a barrel after a leak forced officials to close a Chicago-area pipeline.

Gold for December delivery gained 60 cents to settle at $1,247.10 an ounce.

Bonds: The yield on the 10-year Treasury note fell to 2.74% from 2.81% late Friday. Bond prices and yields move in opposite directions.

Image

Yahoo! Finance

4:30 pm : Broad-based buying on the back of Basel III boosted stocks to their fourth straight gain, or seventh advance in eight sessions. Still, participation remained unimpressive.

Basel III was released overnight. The international regulatory code dictates that required common equity will increase to 4.5% from 2.0% and that a capital conservation buffer of 2.5% is necessary. The stricter requirements will be phased in over a nine year span.

Since there had been concerns about capital levels among Europe's banks, the absence of negative surprises in Basel III helped European bank stocks bounce in overnight trade. That, coupled with news that the European Commission now expects eurozone GDP to increase 1.7% instead of 0.9% in 2010, drove Europe's major bourses to big gains. Meanwhile, the euro rallied 1.5% against the greenback.

Asia's major equity averages also advanced handsomely. They were helped by news that August industrial production in China grew a stronger-than-expected 13.9% year-over-year and that China's August retail sales grew a stronger-than-expected 18.2% year-over-year. Consumer prices in China increased 3.5% in August, as had been widely expected.

An agreeable Basel III and strong overseas action set the stage for the S&P 500 to make a heady move of its own. It ran into some mild selling pressure midsession, but recovered to book a 1% gain and settle at a one-month closing high. It also broke above its 200-day moving average for the first time in one month.

Banks were among the biggest beneficiaries of this session's bounce. The KBW Bank Index advanced 3.0%, which puts it up 11% from the 2010 low that it set only nine sessions ago.

Semiconductor stocks were also strong. As such, the Philadelphia Semiconductor Index spiked 3.4%.

Of the 10 major sectors, only the consumer staples settled with a loss. They shed 0.1%.

Trading volume failed to break 1 billion shares on the NYSE as many investors continue to sit on the sidelines, skeptical of whether the stock market can sustain its bullish streak now that it is already up about 7% since the start of September.

Commodities pits benefited from the positive tone among traders this session. Specifically, the CRB Commodity Index advanced 0.9% to a new one-month high as oil prices advanced 0.9% to $77.19 per barrel. Their session high of $78.04 per barrel marked a one-month best. Meanwhile, silver settled 1.4% higher at $20.15 per ounce after it traded to a fresh 29-month high.

Merger and acquisition activity were at the center of corporate activity. ArcSight (ARST 43.91, +8.81) will be acquired by Hewlett-Packard (HPQ 38.28, +0.08) for $43.50 per share, Hertz (HTZ 10.84, +0.79) will pay $50 for each outstanding share of Dollar Thrifty (DTG 50.58, +2.57) and 3M (MMM 84.86, +0.92) has offered $10.50 for each outstanding share of Cogent (COGT 10.86, -0.07).

Advancing Sectors: Financials (+2.3%), Tech (+2.1%), Materials (+1.6%), Consumer Discretionary (+1.1%), Industrials (+1.1%), Energy (+0.6%), Telecom (+0.4%), Utilities (+0.4%), Health Care (+0.1%)
Declining Sectors: Consumer Staples (-0.1%)DJ30 +81.36 NASDAQ +43.23 NQ100 +1.6% R2K +2.5% SP400 +1.8% SP500 +12.35 NASDAQ Adv/Vol/Dec 2098/1.97 bln/547 NYSE Adv/Vol/Dec 2297/934 mln/725

3:30 pm : Oct crude oil closed higher by 0.9% to $77.19 per barrel. It put in session highs at $78.04 in mid-morning trade, its best levels in one month. The shut-in oil pipeline that delivers crude to the Midwest as well as better-than-expect econ data in China helped support prices. Oct natural gas finished up 1.2% to $3.94 per MMBtu.

Dec gold finished essentially flat at $1247.10 per ounce as it spent the entire session chopping around the flat line. Dec silver settled higher by 1.4% to $20.15 per ounce after it traded to a fresh ~2.5 yr high DJ30 +66.98 NASDAQ +38.04 SP500 +10.78 NASDAQ Adv/Vol/Dec 2018/1.5 bln/625 NYSE Adv/Vol/Dec 2273/618.7 mln/720

3:00 pm : The S&P 500 continues to oscillate just below the 1120 line. It has been confined to a three-point range for the past two hours.

Micron (MU 7.08, +0.57), Advanced Micro Devices (AMD 6.25, +0.44), NVIDIA (NVDA 10.73, +0.66), Sandisk (SNDK 38.76, +1.82), and Broadcom (BRCM 35.38, +1.51) make up the top seven performers by percent gained this session. Their collective strength has the Philadelphia Semiconductor Index is up 3.4%. DJ30 +62.51 NASDAQ +36.52 SP500 +10.42 NASDAQ Adv/Vol/Dec 1983/1.37 bln/647 NYSE Adv/Vol/Dec 2293/570 mln/711

2:30 pm : The financial sector continues to sport a heady lead over the broader market. It is currently up 2.0%. Within the sector, diversified financial services stocks are up 3.0%, regional banks are up 2.8%, and diversified banks are up 2.5%. Insurance brokers (+0.5%) and property and casualty insurers (+0.6%) are laggards in the sector. DJ30 +54.00 NASDAQ +35.37 SP500 +9.77 NASDAQ Adv/Vol/Dec 1954/1.27 bln/662 NYSE Adv/Vol/Dec 2286/525 mln/716

2:00 pm : The S&P 500 has yet to make its way back above the 1120 line, which it broke above earlier this session for the first time in a month. Still, the broad market measure continues to sport an impressive gain.

Despite this session's advance, the seventh time in the last eight trading days, the lack of participation suggests that many have yet to become believers in the stock market's recent rally. With so many sitting on the sidelines trading volume stands below a half billion shares and just two hours remain before the close. Such unimpressive trading volume has been going on for the past couple of weeks. DJ30 +53.13 NASDAQ +34.06 SP500 +9.55 NASDAQ Adv/Vol/Dec 1961/1.16 bln/631 NYSE Adv/Vol/Dec 2285/474 mln/698

1:30 pm : Stocks have attempted to reclaim a few points by making a modest lift off of their afternoon lows. Gains among the major indices remain varied, however.

The Nasdaq is out in fron of its counterparts as tech plays trade with strength. Semiconductor stocks are in some of the best shape as they sport a 3.3% gain, collectively.

As for the Dow, it has been undermined by weakness among consumer staples plays like Coca-Cola (KO 57.91, -0.17) and McDonalds (MCD 74.31, -0.70). Big pharma play Merck (MRK 36.06, -0.21) and integrated oil giant Exxon Mobil (XOM 60.74, -0.46) are also laggards. DJ30 +50.25 NASDAQ +33.56 SP500 +9.45 NASDAQ Adv/Vol/Dec 1959/1.09 bln/632 NYSE Adv/Vol/Dec 2307/445 mln/667

1:00 pm : A positive reaction to Basel III has stocks up for the seventh time in the eight sessions, though they have surrendered some of this session's gains over the past couple of hours.

The absence of any adverse surprises under Basel III, an international regulatory code on capital requirements for banks, sent Europe's banking issues higher overnight and this morning. Their bounce also reflected relief related to capital concerns.

Buying in Europe was further bolstered by news that the European Commission increased its growth forecast for 2010 eurozone GDP. That headline has helped drive the euro sharply higher, such that the currency is now up 1.5% against the greenback.

Strong economic data out of China further perpetuated a positive tone among traders.

Confidence among market participants has sent the S&P 500 up through its 200-day moving average to a new one-month high.

With banks benefiting from Basel III, the KBW Bank Index was up more than 3% at its session high, which also marked a one-month high, but it has since pulled back to trade with a 2.7% gain.

The banking sector's slip coincided with a broader market pullback, which has come amid some mild profit taking. The decision to take some money off of the table comes as some question whether the stock market can sustain the 6% gain that it has earned over the past couple of weeks.

Still, a broadly positive tone to this session has limited losses. At the moment, only defensive-oriented stocks like consumer staples (-0.3%), telecom (-0.2%), and health care (-0.1%) are in the red.

Corporate headlines have been dominated by merger and acquisition activity. Among the items, ArcSight (ARST 43.92, +8.82) will be acquired by Hewlett-Packard (HPQ 38.03, -0.17) for $43.50 per share. That has made shares of ARST leaders in the Russell 2000, which is currently up 2.0%.

Also, Hertz (HTZ 10.77, +0.72) will pay $50 for each outstanding share of Dollar Thrifty (DTG 50.65, +2.64) and 3M (MMM 84.53, +0.59) has offered $10.50 for each outstanding share of Cogent (COGT 10.84, -0.09). DJ30 +46.24 NASDAQ +33.64 SP500 +9.45 NASDAQ Adv/Vol/Dec 1974/849 mln/614 NYSE Adv/Vol/Dec 2305/400 mln/676

12:30 pm : Stocks have fallen another leg lower. The move has put defensive-oriented sectors like consumer staples (-0.3%), telecom (-0.2%), and health care (-0.1%) into the red -- they had already been lagging through the first half of the session.

Gold prices have turned positive with the stock market's recent slip. The yellow metal is now up $1 to $1246 per ounce. Silver has outshined gold. Silver was last quoted with a 1.6% gain at $20.11 per ounce. DJ30 +30.57 NASDAQ +29.79 SP500 +7.67 NASDAQ Adv/Vol/Dec 1932/914 mln/609 NYSE Adv/Vol/Dec 2260/377 mln/666

12:00 pm : Stocks in the broader market have slid off of their recent highs, but support at the 1120 line has kept the S&P 500 trading with a 1% gain.

Meanwhile, small-cap stocks continue to sport a 2% gain, according to the Russell 2000. ArcSight (ARST 43.92, +8.82) is a primary leader among small-cap issues, thanks to news the company will be acquired by Hewlett-Packard (HPQ 38.19, -0.01) for $43.50 per share.

The 10-year Treasury Note is now at a fresh session high with a gain of about eight ticks. That has trimmed its yield to 2.76%. DJ30 +68.75 NASDAQ +35.84 SP500 +11.33 NASDAQ Adv/Vol/Dec 1991/810 mln/536 NYSE Adv/Vol/Dec 2343/333 mln/578

11:30 am : All 24 members of the KBW Bank Index are in positive territory. Their collective climb has the KBW up 3.1% to trade at a one-month high, well above its 50-day moving average, but just shy of its 200-day moving average. The KBW is now up more than 12% from the 2010 low that it set just nine trading sessions ago.

Such consistent strength among bank stocks in recent sessions has helped drive the financial sector higher in nine of the past 11 trading days. The financial sector now sports a year-to-date gain of 2.8%. Up until the middle of last week it had still been down with a year-to-date loss, which made it one of this year's worst performing sectors. DJ30 +77.57 NASDAQ +38.36 SP500 +12.26 NASDAQ Adv/Vol/Dec 1996/707 mln/512 NYSE Adv/Vol/Dec 2396/292 mln/523

11:00 am : Stocks have resumed their upward climb since a slight pullback about an hour ago. The major equity averages now stand at fresh session highs as they sport their seventh gain in the past eight sessions.

Strength among stocks has caused volatility to cool, such that the Volatility Index (VIX) is currently down nearly 4%. Given its declines over the past couple of weeks, the VIX now sits at its lowest level in four months. DJ30 +90.29 NASDAQ +38.06 SP500 +13.29 NASDAQ Adv/Vol/Dec 1973/565 mln/494 NYSE Adv/Vol/Dec 2409/240 mln/479

10:30 am : The dollar index is near its lowest levels of the session, which is providing price strength to most commodities. In the CRB Commodities Index, 15 of its 19 components are trading higher.

October crude has been in positive territory all session. The energy component rallied when pit trading began and hit session highs of $78.04 per barrel at the top of the hour. Currently, crude is 1.9% higher a $77.92 per barrel.

October natural gas rallied to $3.98 per MMBtu earlier this morning before the open. After losing steam and falling back near the unchanged line, natural gas is sitting back near its morning high, currently trading 1.8% higher at $3.95 per MMBtu.

December gold has chopped around in a tight range near the unchanged line and currently just above the flat line at $1249.60 per ounce. December silver was in positive territory overnight and this morning. The precious metal began to rally around 9:00am ET, gaining approx. 1.5% and hit new session highs of $20.22 per ounce. Silver has pulled back since and is 1.8% higher at $20.21 per ounce.DJ30 +93.39 NASDAQ +34.25 SP500 +12.60 NASDAQ Adv/Vol/Dec 1949/426.3 mln/474 NYSE Adv/Vol/Dec 2363/185.9 mln/475

10:00 am : Stocks have eased off of their highs, but gains remain broad as nine of the 10 major sectors continue to sport gains.

Energy stocks make up the only sector in the red. Though their loss is only fractional, they stand out as laggards.

The decline among energy stocks comes not only in the face of broader market support, but also as oil prices climb 1.4% to $77.50 per barrel. Oil prices set a fresh one-month high of $77.74 per barrel earlier. DJ30 +65.59 NASDAQ +24.90 SP500 +9.51 NASDAQ Adv/Vol/Dec 1777/259 mln/512 NYSE Adv/Vol/Dec 2259/134 mln/514

09:45 am : The stock market is up above its 200-day moving average to trade at a new one-month high on the back of broad-based buying.

Gains are most impressive among financials. The sector is up 2.3% at the moment. Banks have been the biggest drivers of that gain, thanks to a positive response to Basel III.

Despite the stock market's strong start, Treasuries have made a slight tick higher. The yield on the benchmark 10-year Note currently stands at 2.78%. DJ30 +80.67 NASDAQ +28.57 SP500 +11.51 NASDAQ Adv/Vol/Dec 1827/164 mln/402 NYSE Adv/Vol/Dec 2349/93 mln/385

09:15 am : S&P futures vs fair value: +10.10. Nasdaq futures vs fair value: +13.20. Stock futures have been bid higher in response to big gains among Europe's bourses, which have been bolstered by news of an increased eurozone GDP forecast from the European Commission and the absence of adverse capital requirements for banks under Basel III. Meanwhile, the dollar is down sharply against competing currencies as early traders show an increased tolerance for risk. That has also helped drive oil prices to a new one-month high; oil was last quoted with a 1.1% gain at $77.30 per barrel. Merger and acquisition activity has dominated financial media. There have been no earnings announcements of consequence today. The economic calendar is also light, since the Treasury Budget for August (2:00 PM ET) is the only item scheduled for today.

09:05 am : S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +12.00. Stock futures continue to trade with strength. Commodities are a bit mixed, though. In turn, the CRB Commodity Index is up just 0.2%. Oil prices are up 0.8% to $77 per barrel in the first few minutes of pit trade. The move puts the commodity at a one-month high and right near its 200-day moving average. Natural gas prices are down 0.9% to $3.85 per MMBtu, at the moment. Meanwhile, gold prices are down 0.2% to $1242.70 per ounce and silver is up 0.4% to $19.88 per ounce.

08:35 am : S&P futures vs fair value: +9.90. Nasdaq futures vs fair value: +13.50. Domestic index futures continue to trade with strength. Europe's major bourses are also up impressively. Their strength has been underpinned by a broad-based bid in the wake of the European Commission's decision to increase its GDP growth estimate for the eurozone to 1.7% from 0.9%. Action has also been helped by the release of Basel III, which did not contain any unpleasant surprises in terms of capital requirements for banks. Germany's DAX is currently up 0.9%. Of the 30 names in German bourse, only Merck KGAA and Daimler (DAI) are in the red at the moment. Shares of DAI had outperformed last week. In France, the CAC is up 1.3% at the moment. Societe Generale, BNP Paribas, and Credit Agricole are its leaders. Britain's FTSE is up 1.1% amid leadership from HSBC (HBC) and Lloyds Banking Group (LYG). Mining stocks are also strong.

As for Asian stocks, Japan's Nikkei advanced 0.9%. It was led by Fanuc LTD and Kyocera (KYO). Fast Retailing lagged. Hong Kong's Hang Seng spiked 1.9%. It was led by HSBC and China Construction Bank. Cathay Pacific was the only name in the 45-member index that failed to stage a gain. Mainland China's Shanghai Composite closed 0.9% higher. PetroChina (PTR) was its primary leader, while Bank of Communications was the session's primary laggard. Chinese industrial production and retail sales data for August not only proved better than expected, but also showed accelerated growth since the prior month. However, China's CPI also increased at an accelerated rate of 3.5% year-over-year in August.

08:05 am : S&P futures vs fair value: +9.70. Nasdaq futures vs fair value: +12.70. News that capital requirements under Basel III didn't contain any adverse surprises has helped spur buying among European bank stocks and send the continent's major bourses sharply higher. Buying has also been bolstered by an upwardly revised GDP growth estimate for the eurozone from the European Commission. That has helped drive the euro to a 1.0% gain against the greenback. All of that has helped support a positive tone to premarket trade in the U.S. Several new merger and acquisition announcements were made over the weekend. Among them, ArcSight (ARST) will be acquired by Hewlett-Packard (HPQ) for $43.50 per share, Hertz (HTZ) will pay $50 for each outstanding share of Dollar Thrifty (DTG), and 3M (MMM) has offered $10.50 for each outstanding share of Cogent (COGT). The only item on today's economic calendar is the Treasury's monthly budget statement at 2:00 PM ET.

06:55 am : S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +14.50.

06:55 am : Nikkei...9321.82...+82.70...+0.90%. Hang Seng...21658.35...+401.00...+1.90%.

06:55 am : FTSE...5560.03...+58.40...+1.10%. DAX...6273.51...+58.60...+0.90%.

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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