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 Post subject: August 15th Monday 2011 Emini TF ($TF_F) points +11.20
PostPosted: Tue Aug 16, 2011 1:58 am 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
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click on the above image to view today's trading summary

Trade Performance for Today: +11.20 points or $1120.00 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.

In addition, all trades were posted real-time in the free #FuturesTrades chat room. Today's #FuturesTrades trading chat room logs provides details about each one of my trades from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=93&t=971.

To join our free chat room...registration instructions located at a different forum @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=5&t=630

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/viewtopic.php?f=5&t=180.

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=142&t=1168

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Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events that had an impact on today's price action. Simply, I'm a strong believer that many variables (key market events) causes key changes in supply/demand and volatility that results in swing points and strong continuation price actions. Thus, I pay attention to these key market events from one trade to the next trade to give me the market context for my technical analysis. Just as important, these summaries becomes my archives to allow me to understand what was happening on any given trading day in the past...something I can not get from my broker statements alone.

'Merger Monday' Boosts Dow 214 Points

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click on the above image to view today's price action of key markets

By Hibah Yousuf and Julianne Pepitone August 15, 2011: 5:05 PM ET

NEW YORK (CNNMoney) -- U.S. stocks moved solidly higher Monday, with major indexes rising about 2%, as merger activity set a positive tone on Wall Street.

The Dow Jones industrial average (INDU) rose 214 points, or 1.9%, to end at 11,482.90. The S&P 500 (SPX) added 26 points, or 2.2%; and the Nasdaq (COMP) gained 47 points, or 1.9%.

The return of "Merger Monday" boosted investor sentiment. Google agreed to buy Motorola Mobility for $12.5 billion, the two companies said Monday.

Shares of Motorola Mobility (MMI) surged 56%, leading the gains on the S&P 500. The merger also helped boost shares of BlackBerry maker Research in Motion (RIMM) as well as Nokia Corp (NOK).

Bank of America's (BAC, Fortune 500) stock spiked 7.9% after the bank said it is selling its credit card business in Canada to TD Bank Group for $8.6 billion, and is exiting its credit card businesses in the U.K. and Ireland.

Shares of offshore drilling contractor Transocean (RIG) rose 3% after it announced plans to buy Norway's Aker Drilling for $1.4 billion.

"Companies have been hoarding cash since 2008 due to the uncertainty of the economic climate, so the fact that they're putting that cash to work is a huge positive," said Peter Tuz, president of Chase Investment Counsel. "It shows that managements are optimistic."

Stocks ended one of the biggest roller-coaster weeks ever on a relatively quiet note Friday, with the Dow climbing 126 points to post its second gain in a row. Earlier last week, the indexes swung wildly between gains and losses of 4% to 5% a day.

But on Monday, Wall Street's key measure of volatility slipped. The CBOE Volatility index, or the VIX (VIX), fell about 12.5% to 31.8. A VIX reading higher than 30 is considered a sign that investors are getting worried -- but Monday's reading was much lower than last week's levels.

* Computers rule Wall Street

The market turmoil was sparked by fear among investors that Europe is heading toward a financial catastrophe, and that the U.S. is slipping into another recession.

While those fears haven't completely disappeared, investors are seeking bargains in stocks following three weeks of losses, said Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors.

Companies: Second-quarter results for home improvement chain Lowe's (LOW, Fortune 500) fell short of expectations. The company also trimmed its forecast for the year. Lowe's shares slipped 1.6% earlier in the session, but recovered to rise 0.9% by the end of the day.

After the bell, retailer Urban Outfitters (URBN) reported second-quarter earnings that topped Wall Street estimates. Shares gained nearly 6% in after hours trading.

World markets: European stocks finished with modest gains. Britain's FTSE (FTSE) 100 rose 0.6%, Germany's DAX (DAX) added 0.4% and France's CAC (CAC) 40 edged up 0.8%.

Investors welcomed news Monday morning that the Japanese economy contracted during the second quarter by much less than economists were expecting, following the devastating earthquake that hit in March.

* Video - Google gobbles up Motorola Mobility

Japan's gross domestic product shrunk by 0.3% last quarter, or 1.3% on an annualized basis.

Asian markets ended with solid gains. The Shanghai Composite rose 1.3%, the Hang Seng in Hong Kong jumped 3.3.% and Japan's Nikkei climbed 1.4%.

Economy: The positive news about mergers and Japan's economy helped offset a disappointing report on regional manufacturing activity.

The Empire State manufacturing index showed that factory activity contracted for a third straight month in August. The figure fell to minus 7.72 from minus 3.76 the prior month. The reading was worse than the minus 0.4 economists surveyed by Briefing.com were expecting.

Currencies and commodities: The dollar was lower against the euro and the British pound, but it advanced slightly versus the Japanese yen.

Oil for September delivery rose $2.50 to settle at $87.88 a barrel.

Gold futures for December delivery added $15.40 to settle at $1,758 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell slightly, pushing the yield up to 2.28%.

Image

Market Update

4:30 pm : Broad-based buying not only gave stocks their third straight gain, but helped the S&P 500 close at a session high above 1200.

Stocks started the session sharply higher. Participants showed little regard for an Empire State Manufacturing Index that fell to -7.7, which contrasts with the consensus -0.4 reading. The reading suggests that regional activity contracted further since July, when a -3.8 had been posted.

The positive tone to early trade was partially supported by buying abroad. Asia's major averages all advanced markedly amid news that Japan's economy contracted by 1.3% in the second quarter. The drop in GDP wasn't as bad as what some had feared, though. Europe's bourses staged varied gains ahead of a meeting between officials from France and Germany. The notion that the fiscal and financial challenges facing the region will be addressed helped the euro maintain a lead of more than 1% over the dollar during most of the trading day. The yen surrendered its gain against the greenback.

Early strength attracted additional buyers into the fold, but conviction was tested when the S&P 500 reached the 1200 line. Hesitation there opened the door to some selling, but stocks gradually battled back in afternoon trade. Steady, broad-based buying eventually pushed the broad market measure past the psychologically-significant line to close at a session high. Some traders believe the market's ability to close above 1200 and remain there could go toward helping the stock market stage a longer-term recovery after the steep losses suffered in recent weeks. The S&P 500 is already up more than 100 points, or plus 9%, from the intraday low that it set last Tuesday.

While an improved tone to broad market action typically encourages participants to trade and invest in riskier issues, stodgy and defensive-oriented utilities stocks were today's top performers. As a group, utilities climbed 3.5%, even after many market analysts gave sector members a nod for their steady business models and relatively robust dividend yields during the volatility of the past few weeks.

Energy stocks weren't far behind, however. Collectively, they climbed 3.4%. Drillers were especially strong after Transocean (RIG 57.27, +1.66) announced plans to acquire Norway-based Aker Drilling. Higher oil prices helped the sector, too; the energy component closed pit trade almost 3% higher just shy of $89 per barrel.

Google (GOOG 552.79, -10.98) helped heat up the handset and telecommunications space with a deal of its own. The tech giant announced that it will pay $40 per share for Motorola Mobility (MMI 38.21, +13.74). The offer represents a premium of more than 60% above MMI's closing price last week.

Advancing Sectors: Utilities +3.5%, Energy +3.4%, Financials +3.2%, Telecom +2.3%, Industrials +1.8%, Health Care +1.8%, Tech +1.8%, Materials +1.5%, Consumer Staples +1.4%, Consumer Discretionary +1.4%
Declining Sectors: (None)DJ30 +213.88 NASDAQ +47.22 NQ100 +1.5% R2K +3.0% SP400 +2.7% SP500 +25.68 NASDAQ Adv/Vol/Dec 2132/1.94 bln/499 NYSE Adv/Vol/Dec 2838/1.11 bln/270

3:30 pm : Sept crude oil ended higher by 2.9% to $87.88 per barrel, aided by the rally in equities. Today's highs, at $88.05, mark crude oil's best in five sessions. Sept natural gas finished lower by 0.9% to $4.02 per MMBtu, in what was an uneventful session.

Dec gold gained 0.9% to settle at $1757.90 per ounce, while Sept silver rallied for 0.7% to finish at $39.38 per ounce. Gold futures snapped a two session losing streak, while silver futures extended its move higher to second consecutive session. Weakness in the dollar aided the precious metal's moves to the upside. DJ30 +172.45 NASDAQ +32.05 SP500 +22.68 NASDAQ Adv/Vol/Dec 1979/1.5 bln/612 NYSE Adv/Vol/Dec 2763/735.5 mln/333

3:00 pm : The S&P 500 continues to dance along the 1200 line, trying to decide which direction it should it should take into the close. With the S&P 500 sitting at 1200, it is now up approximately 99 points from the intraday low that it set last Tuesday. That makes for a 9% move from intraday low to high in less than five sessions. Prior to that, though, the stock market fell 18% from a three-week intraday high to that intraday low last Tuesday.DJ30 +176.04 NASDAQ +35.25 SP500 +21.41 NASDAQ Adv/Dec 1986/605 NYSE Adv/Dec 2772/326

2:30 pm : Stocks have worked their way out of their recent trading range. The effort has enabled the S&P 500 to make an incremental push past the 1200 line, which was a point of resistance this morning.

So far, though, stocks haven't backed down from the psychologically significant line. That said, many market watchers want to see the stock market confirm the move not just by climbing above the 1200 line, but by actually closing above it. Such a feat could go toward helping the stock market build a base to begin a longer-term climb after suffering such harsh losses during the past couple of weeks. DJ30 +175.55 NASDAQ +31.23 SP500 +21.20 NASDAQ Adv/Dec 1965/620 NYSE Adv/Dec 2740/345

2:00 pm : Stocks have spent the past hour in a relatively narrow trading range near afternoon highs. Despite the stock market's strong gains this session, Treasuries really haven't suffered from much selling pressure. In fact, only recently has the benchmark 10-year Note made anything more than a slight slip into the red. Even still, its yield remains below 2.30%.

The dollar has been dogged all day, though. As was the case earlier this morning, it trails a basket of major foreign currencies by 0.9%. Its slide has come mostly because of a bounce by the euro, but the sterling pound and Japanese yen are also stronger today. DJ30 +156.25 NASDAQ +26.31 SP500 +18.86 NASDAQ Adv/Dec 1915/662 NYSE Adv/Dec 2697/378

1:30 pm : Stocks have wavered a bit since working their way up to afternoon highs. Overall gains remain strong, though, as the stock market makes its way toward its third straight gain. At its current level, the stock market is up more than 6% from its close three sessions ago.DJ30 +140.01 NASDAQ +23.06 SP500 +16.65 NASDAQ Adv/Dec 1874/685 NYSE Adv/Dec 2660/403

1:00 pm : Stocks are still shy of their session highs, but the general tone of trade remains upbeat. That has stocks headed for their third straight gain, which hasn't happened in six weeks.

Stocks staged a strong, broad, upward push in the early going, but the move succumbed to selling pressure once the S&P 500 failed to push through 1200. Although the major equity averages have worked to reclaim gains, the Nasdaq has had a harder time doing so.

The Nasdaq surrendered more than half of its gain amid the broad market's mid-morning pullback, but it has since bounced back to a 1% gain. However, Google (GOOG 552.79, -10.98) remains a source of weakness for the tech-rich Nasdaq following news that the company has proposed to pay $40 per share for Motorola Mobility (MMI 38.21, +13.74). Not only has that news sent MMI surging, it has also given a lift to other handset makers. That has helped the over telecom sector put together a 1.9% gain.

Energy stocks are up 3%, collectively. Drillers have been especially strong following news that a Norwegian drilling outfit, Aker Drilling, will be acquired by Transocean (RIG 57.27, +1.66). Of course, a 2% jump in oil prices above $87 per barrel has helped the sector's prospects.

Consumer staples stocks and consumer discretionary stocks have lagged in recent trade. Both sectors are up a relatively tame 0.6%. Staples have been hampered by Estee Lauder (EL 93.53, -7.32) following the personal care and product player's latest quarterly report. The discretionary space has been hampered by retailers, although home improvement retailer Lowe's (LOW 19.54, +0.06) has managed to rally out of the red despite its downside guidance this morning. DJ30 +161.62 NASDAQ +27.62 SP500 +18.78 NASDAQ Adv/Dec 1942/592 NYSE Adv/Dec 2672/390

12:30 pm : Utilities stocks have extended their rally in recent trade. As a group, utilities are now up 3.1%, which is more than double with the broad market has acheived today. Favor for the defensive-oriented sector flies in the face of the generally improved tone of trade, which most often favors relatively riskier, cyclical plays. That said, telecom stocks are also outperforming this session, although not as substantially. The telecom sector's 1.7% gain comes in the wake of news that Google (GOOG 547.40, -16.37) has offered to pay $40 in cash for each share of Motorola Mobility (MMI 38.30, +13.83). The offer represents a premium of more than 60% above where shares of MMI closed last week's trade.DJ30 +122.42 NASDAQ +18.19 SP500 +14.70 NASDAQ Adv/Dec 1847/680 NYSE Adv/Dec 1594/449

12:00 pm : The broad averages are reclaiming their gains. They still have a ways to go before they will have returned to session highs, however.

Discretionary plays have been unable to recover from the recent downturn. As such, the sector has been left to trade near the neutral line -- it is currently up only 0.1%. Retailers have been a particularly heavy drag on the discretionary space. Pressure against retailers has the SPDR S&P Retail ETF (XRT 46.74, -0.41) down nearly 1% to a session low. DJ30 +115.87 NASDAQ +20.21 SP500 +14.43 NASDAQ Adv/Dec 1857/638 NYSE Adv/Dec 2609/425

11:30 am : Selling pressure has intensified, especially among tech stocks, which are now up just 0.5% for the session. That has taken an even greater toll on the Nasdaq Composite, which has surrendered more than half of the gain that it had sported at its session high.

The selling effort hasn't come as a result of any particular headline or catalyst, but follows the failure of the S&P 500 to extend its morning climb above 1200. Tech stocks, which are collectively the largest sector in the broad market, haven't offered much leadership today, or in recent sessions for that matter. DJ30 +97.48 NASDAQ +11.41 SP500 +11.50 NASDAQ Adv/Dec 1744/726 NYSE Adv/Dec 2538/465

11:00 am : Stocks set session highs about 30 minutes ago, but have since slid off of that mark. The three major equity averages all remain up by more than 1%, though.

Utilities stocks have staged an impressive climb this session. Despite their relatively stodgy make up and defensive positioning, the sector has ascended to a 2.4% gain. That ties them with financials for the second-best performing sector behind energy, which is up 2.8%. Among utilities, electric plays like Duke (DUK 18.27, +0.45), American Electric (AEP 36.83, +1.07), and Constellation Energy (CEG 36.63, +0.98) are the top performers. DJ30 +134.26 NASDAQ +28.27 SP500 +16.06 NASDAQ Adv/Dec 1968/481 NYSE Adv/Dec 2679/309

10:30 am : Oil prices have pulled back a bit in recent trade, but they remain on track for a strong start to the week. The energy component was last quoted with a 1.8% gain at $86.90 per barrel. It had been at about $87.50 per barrel at its morning high. Elsewhere in the energy complex, natural gas prices are moving in the opposite direction. They were last priced at $3.98 per MMbtu, down 2.0%, which actually makes for a morning high.

Precious metals are also seeing mixed interest. Specifically, gold prices are unchanged at $1742 per ounce while silver is up 0.8% to $39.40 per ounce. At their respective highs, gold traded at almost $1746 per ounce and silver was at about $39.50 per ounce. DJ30 +161.32 NASDAQ +35.68 SP500 +19.60 NASDAQ Adv/Dec 1989/404 NYSE Adv/Dec 2711/250

10:00 am : Stocks have eased off of their early morning high, but the three major equity averages are still up in excess of 1% as market breadth remains decidedly positive.

The dollar has descended deeper into negative territory as the euro continues to climb. Strength in the euro has taken the Dollar Index down to a 0.9% loss. The Dollar Index, which weighs the greenback against a basket of major foreign currencies, is down 6.5% this year. DJ30 +144.82 NASDAQ +30.23 SP500 +17.01 NASDAQ Adv/Dec 1912/399 NYSE Adv/Dec 2584/283

09:45 am : Stocks are staging a strong climb in the first few minutes of trade. The effort has been broad based, but energy plays are out in front with a collective gain of 2.4%. Drillers are attracting considerable buying interest following news that Transocean (RIG 56.85, +1.24) has made an all cash offer to acquire Norway-based Aker Drilling.

Consumer staples stocks are struggling to garner support. The sector is up only 0.1% as Estee Lauder (EL 91.33, -9.52) slides sharply in the wake of its latest quarterly report, which actually featured an upside earnings surprise and in-line forecast. DJ30 +132.60 NASDAQ +29.45 SP500 +14.83 NASDAQ Adv/Dec 1899/339 NYSE Adv/Dec 2540/283

09:15 am : S&P futures vs fair value: +8.30. Nasdaq futures vs fair value: +6.50. Stock futures have oscillated in a relatively narrow trading range this morning, but all the while remained in positive territory with a modest lead over fair value. As such, the cash market is expected to open with modest gain. Some rather disappointing regional manufacturing data (the Empire State Survey) has been offset by a positive tone abroad, where strong gains that were staged overnight in Asia and Europe's bourses are showing strength ahead of a meeting between officials from France and Germany. The positive tone to trade in Europe has also helped the euro climb sharply against the greenback -- the currency was last quoted with at $1.440 for a 0.9% gain.

09:05 am : S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +4.70. Europe's major bourses are off of their session highs, but still sporting gains during the first day of the new week. Support has come amid an absence of negative headlines related to the region's fiscal and financial challenges ahead of a meeting between officials from France and Germany on Tuesday. Germany's DAX is currently up 0.4%. Commerzbank and Deutsche Bank (DB) are among the bourse's top performers, but automakers Volkswagen and Daimler have encountered selling pressure. In France, the CAC currently sports a 0.3% gain. Alcatel-Lucent (ALU) and AXA (AXA), both up in excess of 4%, are leaders there. In Britain, the FTSE is up 0.4%. BP Plc (BP), Amec Plc, and Fresnillo Plc are top performers there. Banking plays like Barclays (BCS), Lloyds Group (LYG), and Royal Bank of Scotland (RBS) are among the poorest performers.

Overnight action in Asia was broadly upbeat. Specifically, Japan's Nikkei swung to a 1.4% gain. The country reported that its economy, as measured by GDP, contracted by 1.3% during the second quarter. That was generally considered to be less than what had been feared, however. Fanuc Corp., Furukawa Co., and Sony (SNE) were primary leaders in the broad-market advance. Hong Kong's Hang Seng swung to a 3.3% gain. Ping An Insurance was a primary driver of the move. China's Shanghai Composite put together a 1.3% gain. Bank stocks were the primary backers of the advance.

08:35 am : S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +3.00. Support for stock futures has faded a bit in recent trade. A disappointing Empire State Manufacturing Index hasn't exactly helped support the positive tone. The Index for August showed further contraction by falling to -7.7 from about -3.8 in July. The consensus among economists at Briefing.com had called for the Index to improve to -0.4. Outside of stock futures, gold prices are still slightly negative at about $1740 per ounce. The dollar is down about 0.4% against a basket of major foreign currencies.

08:05 am : S&P futures vs fair value: +8.60. Nasdaq futures vs fair value: +6.00. Stocks ended last week with back-to-back gains. The underlying positive tone has carried over into today's premarket trade. Varied gains abroad have helped support buying interest ahead of the open. The number of notable corporate news items has picked up a bit. Among them, Google (GOOG) has offered to use cash to purchase Motorola Mobility (MMI) for $40 per share, which makes for a premium of more than 60% over MMI's closing price last week. In other merger and acquisition activity, Transocean (RIG) has made a cash offer to acquire Norway-based Aker Drilling. On the earnings front, Lowe's (LOW) lowered its outlook so that earnings are projected to come short of the current consensus forecast. There isn't a great deal of data on tap for today, but the Empire State Manufacturing Survey is due at the bottom of the hour, followed by Treasury International Capital data at 9:00 AM ET.

06:46 am : [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +1.80.

06:46 am : Nikkei...9086.41...+122.70...+1.40%. Hang Seng...20260.10...+640.10...+3.30%.

06:46 am : FTSE...5333.99...+14.00...+0.30%. DAX...6041.95...+44.20...+0.70%.

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 Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
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