TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 10:53 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: November 11th Thursday 2010 Emini TF ($TF_F) points -1.60
PostPosted: Fri Nov 12, 2010 10:29 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Only Trading (no indicators)

Attachment:
111110_wrbtrader_PnL_Blotter_Profit.png
111110_wrbtrader_PnL_Blotter_Profit.png [ 76.28 KiB | Viewed 271 times ]

click on the above image to view normal size

Quote:
I will update later on Friday.

Trade Performance for Today: -1.60 points or ($160) dollars in the ICE Russell 2000 Emini TF ($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.

In addition, today's #FuturesTrades chat room logs provides details about each trade from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=83&t=677

Also, posted below are direct links to information about my trade methodology and trading plan (there's a difference between the two) 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/bar 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 Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=125&t=825

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

Image Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED actions, global economics that had an impact on today's price action. Simply, I'm a strong believer that many variables causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis.

Image

Image Yahoo! Finance - Market Update

3:35 pm : Commodities were mixed today, with precious metals rallying for 1.9% while soft commodities fell 3.2%. March sugar futures plunged 9.6% to finish at 29.66 cents a pound following news that India could produce a bigger-than-expected surplus.

Dec gold finished higher by 0.6% to $1403.30 per ounce, while Dec silver gained 3% to settle at $27.41 per ounce. Both metals finished higher despite a stronger dollar.

Dec natural gas extended its sell off to a second session after it shed 2.9% to end at $3.93 per MMBtu. Forecasts for milder-than-usual temps weighed on prices. Dec crude oil finished flat on the session at $87.81 per barrel. DJ30 -105.80 NASDAQ -27.01 SP500 -7.75 NASDAQ Adv/Vol/Dec 39/2.2 bln/1662 NYSE Adv/Vol/Dec 958/687.5 mln/1990

3:00 pm : Stocks have pulled back a bit since setting a fresh session high about a half an hour ago. Failure to push into positive ground would give the S&P 500 its third loss in four sessions. What's more, at its current level, the S&P 500 is on pace for a weekly loss of little more than 1%, which would be its worst weekly performance since a 3.8% loss for the week that ended August 13. DJ30 -78.63 NASDAQ -23.52 SP500 -5.67 NASDAQ Adv/Vol/Dec 989/2.01 bln/1610 NYSE Adv/Vol/Dec 1066/617 mln/1873

2:30 pm : The stock market continues to gradually trim its loss. From its session low to its current point the S&P 500 has climbed about 0.8%. It is still down modestly for the session, however.

Energy and materials continue to outperform. The two sectors are now up 0.8% and 0.9%, respectively. Despite such enviable gains, the other sectors have been slow to catch up. For instance, the next best performing sector -- consumer discretionary -- is up 0.4%, or half of what the energy sector has managed to make. DJ30 -58.99 NASDAQ -19.87 SP500 -3.58 NASDAQ Adv/Vol/Dec 1022/1.80 bln/1555 NYSE Adv/Vol/Dec 1124/575 mln/1797

2:00 pm : Stocks have broken free from their recent trading range to set a fresh session high. Though the stock market is still in the red, it has successfully cut its losses for the session in half.

Tech stocks continue to trail. They are collectively down 1.9%. The sector had been down close to 3% at its session low.

Despite lingering weakness, Viacom (VIA.b 39.44, +1.34) has put on a strong performance. The stock is up 3.5% following the company's top and bottom line beat. DJ30 -78.26 NASDAQ -21.96 SP500 -6.04 NASDAQ Adv/Vol/Dec 973/1.72 bln/1584 NYSE Adv/Vol/Dec 997/525 mln/1897

1:30 pm : Overall action remains weak as the stock market continues to chop along in negative territory with a marked loss. Still, stocks are up from their session lows.

The dollar continues to sport an impressive gain. It is currently up 0.7% against competing currencies. The dollar is now up about 3% over the course of the past five sessions. That makes for its longest and richest streak of gains in months. Most of the dollar's gain in recent trade has come against the euro, which is currently down 1.0% to $1.365. DJ30 -92.11 NASDAQ -28.37 SP500 -7.95 NASDAQ Adv/Vol/Dec 892/1.60 bln/1672 NYSE Adv/Vol/Dec 859/481 mln/2040

1:05 pm : Another gain by the greenback and disappointing guidance from Dow component Cisco brought about a broad selling effort this morning. Stocks have been slow to recover.

The dollar has extended its recent run to a fifth straight session. Its 0.6% gain today takes the Dollar Index to the top end of its one-month range and up about 3% from the multi-month low that it set just last week. The greenback's gains come amid ongoing concerns about sovereign debt from eurozone countries like Ireland, Portugal, Spain, and Italy. Yields on the debt of such peripheral countries of the EU are on the rise in response.

After several days of modest corporate news flow, Cisco (CSCO 20.71, -3.78) announced its latest quarterly results. The company posted an upside earnings surprise, but issued downside guidance during its conference call. The disappointing forecast was blamed on softer spending in the public sector.

Cisco's outlook made its report one of the worst of any bellwether or stalwart from the tech sector. That has prompted its shares to suffer their worst single-session percentage drop of the year. Such weakness has imbued shares of other tech equipment plays.

While Cisco has been the heaviest drag on the Nasdaq, Amazon.com (AMZN 170.08, -3.25) has also been a notable laggard. Its shares have been hit following word that WalMart (WMT 54.13, -0.38) will offer free shipping on some online purchases this holiday season.

Resource-linked stocks have managed to attract support in the face of widespread weakness. That has the materials sector up 0.4% and the energy sector up 0.2%. While neither the energy sector nor materials have offered any legitimate form of leadership for the broader market to rally around, stocks have been able to work their way off of their session lows. DJ30 -104.37 NASDAQ -31.06 SP500 -9.43 NASDAQ Adv/Vol/Dec 853/1.52 bln/1692 NYSE Adv/Vol/Dec 813/455 mln/2079

12:30 pm : The stock market has gradually grinded its way to a session high. Still, it remains well into the red. DJ30 -87.49 NASDAQ -27.89 SP500 -7.70 NASDAQ Adv/Vol/Dec 877/1.40 bln/1647 NYSE Adv/Vol/Dec 829/416 mln/2045

12:00 pm : Stocks continue to chop along in negative territory. Action has been weak since the start of trade.

While Cisco (CSCO 20.78, -3.71) is still by far the worst performing issue in the Nasdaq, Amazon.com (AMZN 170.28, -3.05) has been under a stiff bout of pressure of its own. Many reports attribute the drop in AMZN's shares to word that WalMart (WMT 54.13, -0.38) will offer free shipping to home this holiday season with no minimum purchase requirement online at WalMart's website. DJ30 -91.69 NASDAQ -33.01 SP500 -9.04 NASDAQ Adv/Vol/Dec 762/1.28 bln/1742 NYSE Adv/Vol/Dec 776/370 mln/2093

11:30 am : Trade is choppy and there really hasn't been a concerted display of leadership for the broader market to rally around -- only materials, which make up less than 4% of the market's weight, have mustered a modest gain (currently just 0.2%).

Volatility is up again this session. That has the Volatility Index up 3.5%. It set a multi-month low just two days ago. DJ30 -100.05 NASDAQ -37.31 SP500 -10.20 NASDAQ Adv/Vol/Dec 690/1.16 bln/1790 NYSE Adv/Vol/Dec 677/328 mln/2186

11:00 am : The Nasdaq has managed to cut into its loss, although it is still down sharply for the session. Baidu.com (BIDU 114.53, +2.84) and Level 3 Communications (LVLT 1.19, +0.16) currently atop the list of leaders in the Nasdaq, but their efforts continue to be offset by Cisco (CSCO 20.90, -3.59) in the wake of its weak forecast.

Though the broad-based S&P 500 remains under a stiff spell of pressure as well, materials stocks have actually attracted some solid support. In turn, the sector has made its way to a 0.3% gain. Materials make up the only sector currently in higher ground. Diversified metals and miners like Freeport McMoRan (FCX 106.27, +1.94) have provided the impetus for the move. DJ30 -94.38 NASDAQ -34.32 SP500 -9.59 NASDAQ Adv/Vol/Dec 673/998 mln/1772 NYSE Adv/Vol/Dec 656/275 mln/2165

10:30 am : The CRB Commodity Index is down 0.2% as commodities trade in mixed fashion. The CRB's slip marks an extension of its prior session loss of 0.6%, which made for the CRB's first decline in 10 sessions.

Oil has had a quiet session thus far. The commodity is currently unchanged at $87.82 per barrel. Natural gas prices have pared some of their earlier losses to trade at $4.03 per MMBtu, down 0.2% for the session.

As for precious metals, gold is up 0.2% to $1402.00 per ounce and silver is up 1.3% at $27.18 per ounce. Their highs were at $1417.60 per ounce and $27.84 per ounce, respectively. DJ30 -94.34 NASDAQ -35.20 SP500 -9.77 NASDAQ Adv/Vol/Dec 648/830 mln/1747 NYSE Adv/Vol/Dec 653/219 mln/2135

10:00 am : The dollar has added to its gain. It is now up 0.6% against competing currencies. That puts it back at the prior session's high, which also makes for its best level in little over a week.

The dollar's advance sent stocks even lower, but the major averages have since moderately improved their position. Still, weakness among stocks remains widespread with all 10 major sectors in the red.

Of the major sectors, resource-linked plays in the materials and energy sectors have managed to best limit their losses. Both sectors are down just 0.1%. Tech continues to trail with a 2.6% loss amid disappointment over the outlook from Cisco (CSCO 20.51, -3.98).

Advancing Sectors: (None)
Declining Sectors: Tech (-2.6%), Financials (-1.2%), Industrials (-0.9%), Consumer Discretionary (-0.6%), Telecom (-0.6%), Ealth Care (-0.4%), Consumer Staples (-0.3%), Utilities (-0.3%), Energy (-0.1%), Materials (-0.1%)DJ30 -97.82 NASDAQ -42.69 SP500 -10.70 NASDAQ Adv/Vol/Dec 490/525 mln/1824 NYSE Adv/Vol/Dec 466/144 mln/2260

09:45 am : Stocks are under sharp pressure in the first few minutes. That has taken both the S&P 500 and Dow down about 1%. The Nasdaq Composite is in even worse shape with its near 2% loss.

The outsized loss by the Nasdaq comes in the wake of disappointing guidance from Cisco (CSCO 20.64, -3.85). A raft of communication equipment, software equipment, and semiconductor equipment names have been implicated by the company's outlook. In turn, the overall tech sector is down 2.7%. Tech stocks collectively represent the largest sector by market weight. DJ30 -111.52 NASDAQ -49.56 SP500 -12.94 NASDAQ Adv/Vol/Dec 410/337 mln/1829 NYSE Adv/Vol/Dec 374/95 mln/2285

09:15 am : S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -33.00. Stock futures are under some relatively stiff pressure this morning, such that a decidedly lower start to trade looks to be in order. The weak tone comes as the dollar continues its climb into a fifth straight session -- its longest streak in months. The greenback is currently up 0.3% against a basket of major foreign currencies, namely the euro, which has been hurt by lingering concerns regarding the sovereign debt of some of the more fiscally challenged eurozone countries. Additionally, Cisco (CSCO) served up the first major quarterly announcement in several days, but it was a big disappointment. The report featured better-than-expected earnings, but that has been marred by a weak outlook. That has put added pressure on stock futures, especially those for the Nasdaq. Overseas trade has offered little direction to U.S. participants -- Europe's major bourses are down with varied losses following varied gains by Asia's major averages. Data out of China indicated that inflation picked up a bit more than expected in October, but China's debt was also upgraded by Moody's. As an aside, the observance of Veterans Day has left the domestic economic calendar empty and the U.S. bond market closed.

09:05 am : S&P futures vs fair value: -10.30. Nasdaq futures vs fair value: -34.00. Stock futures are at their morning lows. Early trade in the commodity pits has been mixed. Oil prices are currently down fractionally to $87.75 per barrel. Natural gas prices are off by 0.6% at $4.02 per MMBtu. Gold has gained some support, though. The yellow metal is currently priced at $1407.80 per ounce, up 0.6%. Silver has rebounded from its 7% slide in the prior session to trade with a 2.1% gain at $27.43 per ounce.

08:35 am : S&P futures vs fair value: -8.10. Nasdaq futures vs fair value: -29.30. Futures for the S&P 500 are still under pressure. Europe's major bourses are also catching some heat from sellers. Germany's DAX is down 0.1% at the moment. K+S AG and Deutsche Bank (DB) have hampered action, though Siemens (SI) has been a source of support. France's CAC has fallen to a 0.5% loss after it opened in positive territory. BNP Paribas and Societe Generale have undermined broader trade. Britain's FTSE is down 0.3%. Banking issues HSBC (HBC) and Barclays (BCS) have been primary culprits behind the loss. Natural resource plays Xstrata (XTA), BP Plc (BP), and Anglo American have helped limit the move lower, though.

Overnight action in Asia was much stronger. Specifically, Japan's Nikkei advanced 0.3%. Chiyoda, Fanuc, and Toyota Motor (TM) were primary leaders. According to data, machine orders for September fell 10.3% after rising 10.1% in August. Domestic corporate goods prices increased 0.2% in October after a flat reading in September. Mainland China's Shanghai Composite climbed 1.0%. PetroChina (PTR) and China Petroleum (SNP) led the advance. According to data, China's CPI for October increased 4.4%, which is considerably more than the 3.6% increase registered in the same period one year ago. Producer prices increased 5.0% after a 4.3% increase in October 2009. Industrial production during October spiked 13.1% after a 13.3% increase in October 2009. Retail sales for October were up 18.6%, which is essentially on par with the 18.8% increase registered in the same month one year ago. In Hong Kong, the Hang Seng advanced 0.8%. CNOOC (CEO), Industrial & Commercial Bank, and HSBC provided the most leadership.

08:05 am : S&P futures vs fair value: -9.30. Nasdaq futures vs fair value: -30.80. TThe dollar is up for the fifth straight day. Such a streak has not been seen in months. Stocks were able to book varied gains during the prior session as the dollar pulled back from its intraday peak, but renewed support for the greenback has put pressure on stock futures. Dow component Cisco (CSCO) is the first widely held name to report earnings in several days. Its downside outlook has overshadowed its upside earnings surprise and, in turn, exacerbated the weak tone of premarket trade. Shares of CSCO have been downgraded by several analysts in the wake of the company's report. There are no economic items on today's calendar and the U.S. bond market is closed in observance of Veterans Day.

06:57 am : S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -25.50.

06:57 am : Nikkei...9861.46...+30.90...+0.30%. Hang Seng...24700.30...+199.70...+0.80%.

06:57 am : FTSE...5813.21...-3.80...-0.10%. DAX...6719.30...-0.70...0.00.

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/bar analysis)
Price Action Only Trading (no indicators)
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
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr