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 Post subject: September 27th Tuesday 2011 Emini TF ($TF_F) points +31.60
PostPosted: Tue Sep 27, 2011 6:55 pm 
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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)

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

Trade Performance for Today: +31.60 points or $3160.00 dollars in the Russell 2000 Emini TF ($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 (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=94&t=1011.

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=143&t=1197

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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.

U.S. Stocks Advance, Trim Gains in Final Hour on Greece

Sept. 27 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks rose, with benchmark indexes weathering a final-hour selloff, after Greece made progress in meeting requirements for more international aid and Germany vowed continued support for the country.

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Market Update

4:30 pm : The Dow ended the day with a gain of almost 150 points, but that is actually only half of what it had sported just a couple of hours prior to the close.

Stocks got a nice pop at the open as market participants took their cues from Europe, where the major bourses bounced to gains that ranged from 4% to almost 6% amid hope that plans are being crafted to help restore the region's fiscal and financial conditions. That also helped drive the euro up sharply, although its gain petered out into the close. Still, the euro ended the day 0.6% higher than where it began.

Broad-based buying had the stock market up almost 3% at its session high, but traders began to lean on stocks late in the session. Selling accelerated into the close, but a bit of buying in the final minutes kept stocks from settling at their session lows.

Financials fell the hardest. The sector had been up more than 3% before its break down took it into negative territory. The sector managed to work its way back to a modest gain of 0.4%. Goldman Sachs (GS 99.55, +0.41) managed to eke out such a gain despite word that influential analyst Meredith Whitney cut her earnings estimate on the stock.

Materials managed to hold their position as the day's best performers. The sector scored a 2% gain as traders reacted to a stronger stock market and a jump in commodity prices, which took the CRB Commodity Index to a 2.7% gain.

Walgreen Co. (WAG 33.77, -2.26) was one of only a handful of names making announcements ahead of trade. The company's better-than-expected earnings were shrugged off due to the lack of progress in its negotiations with Express Scripts (ESRX 39.68, +0.36).

Advancing Sectors: Materials +2.1%, Industrials +1.6%, Energy +1.5%, Health Care +1.5%, Telecom +1.2%, Tech +1.1%, Consumer Discretionary +0.8%, Consumer Staples +0.6%, Financials +0.4%, Utilities +0.3%
Declining Sectors: (None)DJ30 +146.83 NASDAQ +30.14 NQ100 +0.9% R2K +2.2% SP400 +3.7% SP500 +12.43 NASDAQ Adv/Vol/Dec 1966/2.10 bln/659 NYSE Adv/Vol/Dec 2510/1.19 bln/552

3:30 pm : Today's pit trade saw precious metals post gains for the first time in four sessions. Specifically, gold prices gained 3.6% to settle the session at $1652.50 per ounce, while silver settled at $31.50 per ounce for a 5.1% gain.

Oil prices closed pit trade at $84.45 per barrel for a 5.2% gain. That marked the commodity's strongest single-session performance in four months. Natural gas prices climbed 1.3% to $3.83 per MMbtu.

Overall strength in the commodity complex helped take the CRB Commodity Index 2.7% higher for the day. Just last week the CRB set a 2011 low. DJ30 +206.43 NASDAQ +39.86 SP500 +18.84 NASDAQ Adv/Vol/Dec 2095/1.50 bln/510 NYSE Adv/Vol/Dec 2725/705 mln/335

3:00 pm : Stocks have eased off of their session highs as they enter the final hour of the session. The major market averages are all still up well in excess of 2%.

Meanwhile, the dollar has drifted deeper into negative territory so that it now trails a basket of major foreign currencies by 0.7%. Participation has been solid this session, based on share volume.

The bump up in trading activity comes as some market participants look to chase the stock market's gains and others move to cover short positions placed when stocks were slumping last week. DJ30 +282.68 NASDAQ +60.82 SP500 +26.42 NASDAQ Adv/Vol/Dec 2175/1.39 bln/395 NYSE Adv/Vol/Dec 2765/650 mln/290

2:30 pm : The Dow is now up more than 300 points. All 30 of its components are sporting gains, but American Express (AXP 47.99, +0.43) is the only name that hasn't managed to advance more than 1%. Among blue chips, Hewlett-Packard (HPQ 24.39, +1.68) is up 7%, making it the top performer.

Strength among stocks continues to weigh on Treasuries. In turn, the benchmark 10-year Note is now down about a full point. DJ30 +310.91 NASDAQ +68.48 SP500 +31.03 NASDAQ Adv/Vol/Dec 2200/1.25 bln/385 NYSE Adv/Vol/Dec 2775/590 mln/270

2:00 pm : A steady, broad-based bid has helped stocks add gradually to their gains so that the major equity averages are now at new session highs. The stock market is now up about 5% over only two days. Although impressive, that's still short of undoing the 6.5% slide that the stock market suffered last week.DJ30 +309.47 NASDAQ +70.46 SP500 +31.19 NASDAQ Adv/Vol/Dec 2175/1.15 bln/390 NYSE Adv/Vol/Dec 2755/545 mln/265

1:30 pm : Treasuries remain under pressure in the wake of results from an auction of 2-year Notes, which saw extremely strong demand. Specifically, the auction drew a bid-to-cover of 3.76, dollar demand of $131.6 billion, and an indirect bidder participation rate of 36.7%. The prior auction drew a bid-to-cover of 3.44, dollar demand of $120.4 billion, and an indirect bidder rate of 31.6%. An average of the past six auctions results in a bid-to-cover ratio of 3.23, dollar demand of $112.9 billion, and an indirect bidder participation rate of 30.6%.DJ30 +288.47 NASDAQ +64.14 SP500 +28.58 NASDAQ Adv/Vol/Dec 2170/1.04 bln/380 NYSE Adv/Vol/Dec 2743/500 mln/275

1:00 pm : The major equity averages are up sharply for the second straight session. The improved sentiment comes amid reports that officials in Europe are planning to shore up the region's fiscal and financial problems.

Traders continue to take their cues from Europe, where the hope for a plan to stabilize conditions took took Germany's DAX up 5.3%, France's CAC up 5.7%, and Britain's FTSE 4.0% higher. Hope continues in the face of word this morning that the European Investment Bank has no plans to establish a special purpose vehicle related to the EFSF.

The notion has also helped the euro continue its climb off of the multi-month low that it set the other day. The euro is currently up 0.7% to $1.360.

Improved sentiment has also helped commodities overcome the downtrend that took them sharply lower last week. The combination of higher commodity prices and a stronger stock market has made energy stocks and materials stocks, up 3.0% and 3.6%, respectively, today's top performers.

Utilities stocks, which are defensive in nature, are in the weakest shape, but the sector has still managed to put together a 0.7% gain.

Walgreen Co. (WAG 34.30, -1.73) has failed to even find positive territory, however. The stock's slide comes as participants shrug off an upside earnings surprise to focus on news that the company has failed to make progress in its dealings with Express Scripts (ESRX 39.89, +0.57). DJ30 +259.60 NASDAQ +55.29 SP500 +25.11 NASDAQ Adv/Vol/Dec 2150/970 mln/390 NYSE Adv/Vol/Dec 2725/465 mln/270

12:30 pm : After easing back a bit, stocks have stretched ahead to extend their gains by a modest margin, which has the major equity averages at fresh session highs.

Amid the strength of the stock market, Treasuries have fallen further out of favor. Just last week the yield on the benchmark 10-year Note was down to a record low beneath 1.70%, but it has since climbed to almost 2.00%. DJ30 +279.27 NASDAQ +60.26 SP500 +27.90 NASDAQ Adv/Vol/Dec 2125/855 mln/370 NYSE Adv/Vol/Dec 2750/420 mln/230

12:00 pm : Today's rally has been broad based in that advancing issues outnumber decliners by more than 12-to-1 on the NYSE, but shares of Walgreen Co. (WAG 34.43, -1.60) have slumped to a loss of more than 4%. The stock's slide comes even though the company posted this morning an upside earnings surprise. However, the company also reported that there has not been any progress related to renewal negotiations with Express Scripts (ESRX 39.99, +0.67).DJ30 +263.19 NASDAQ +53.56 SP500 +26.93 NASDAQ Adv/Vol/Dec 2120/765 mln/365 NYSE Adv/Vol/Dec 2735/375 mln/225

11:30 am : Relative to a basket of major foreign currencies, the dollar is down 0.6%, which puts it on pace for its poorest single-session performance in about two weeks. The dollar's downturn today comes as the euro and sterling pound rally in response to possible plans to help restore fiscal and financial conditions in Europe. The dollar, although still narrowly below the multi-month high that it set late last week, is currently down 1.9% year to date. For comparison, the euro is up 1.7% in 2011, but the sterling pound is up 0.5% for the year.DJ30 +265.61 NASDAQ +57.79 SP500 +26.81 NASDAQ Adv/Vol/Dec 2080/660 mln/370 NYSE Adv/Vol/Dec 2735/325 mln/210

11:00 am : After chopping along in a relatively narrow range, stocks have pressed ahead to set new session highs. All three major equity averages are now up in excess of 2%.

Financials were leaders in the prior session and are up impressively again today. The sector currently sports a 2.9% gain, but that's not the best of the bunch. Instead, natural resource plays like energy stocks and materials stocks are boasting the biggest percentage gains. As a group, energy stocks have climbed 3.4%, while materials stocks have collectively climbed 3.9%.

Utilities are in the worst shape today, but even that sector has managed to advance to a 1.2% gain as the broad market's bounce has lifted a wide range of issues. DJ30 +273.71 NASDAQ +58.97 SP500 +28.74 NASDAQ Adv/Vol/Dec 2035/520 mln/375 NYSE Adv/Vol/Dec 2685/260 mln/225

10:30 am : Commodities are showing strong gains across the board this morning, excluding natural gas futures, aluminum and lumber, on weakness in the dollar index and overall broad market strength.

Crude oil futures traded near the unchanged line for the majority of today's session. It hit a new session high of $83.68/barrel about 30 minutes ago and is currently up 4.2% at $83.65/barrel.

Natural gas is modestly lower this morning and is showing an interest chart. The energy component spiked about 8 cents (or +1.8%) around 8am EST, consolidated, and has recently sold off back into negative territory. Nat gas is now back at the unchange line at $3.84/MMBtu.

Precious metals are showing nice gains this morning, led by silver. Gold futures have been trading in a rather range today, more specifically, trading between ~$1654-1680/oz. over the last six hours. Gold is now up 4.4% at $1665.00/oz.

Silver futures rose as high as $33.55/oz earlier this morning and still showing sharp gains, currently up 9.3% at $32.75/oz. DJ30 +226.71 NASDAQ +41.73 SP500 +23.71 NASDAQ Adv/Vol/Dec 2061/436 mln/330 NYSE Adv/Vol/Dec 2670/227 mln/218

10:00 am : The Conference Board's Consumer Confidence Index for September came in at 45.4, which is barely up from the 45.2 that was posted in the prior month, but below the 46.6 that had been broadly expected among economists polled by Briefing.com. Stocks haven't really reacted to the release. As such, the major equity averages remain at session highs, boasting big gains.DJ30 +245.56 NASDAQ +45.13 SP500 +24.98 NASDAQ Adv/Vol/Dec 1999/140 mln/235 NYSE Adv/Vol/Dec 2615/90 mln/160

09:45 am : Stocks are up sharply this morning. The advance comes amid more broad-based buying. Adding today's move to yesterday's, stocks are already up 4% this week. Although that is a very sharp move in very little time, stocks still have a ways to go before they can fully offset last week's 6% slide.DJ30 +197.16 NASDAQ +35.67 SP500 +20.24

09:15 am : S&P futures vs fair value: +22.70. Nasdaq futures vs fair value: +35.50. Hope for a plan to prop up fiscal and financial conditions in Europe continues to bring buyers back into the market after stocks slumped last week. However, representatives from the European Investment Bank have said that they have not been approached and that they have no plans to be involved in special purpose vehicles connected to the EFSF. Media had been reported otherwise yesterday. Although Europe has played a regular theme in global market activity, it has garnered additional attention in the absence of any meaningful data or market-moving corporate announcements for the past week. Once again, only a dearth of corporate activity has been reported this morning. Data has, so far, been limited to a S&P/CaseShiller 20-City Index for July that slid 4.1% after a 4.5% decline in the prior month. Coming up at 10:00 AM ET is the latest Consumer Confidence Index.

09:05 am : S&P futures vs fair value: +22.50. Nasdaq futures vs fair value: +35.00. Improved sentiment has helped commodities attract renewed buying interest after slumping in recent sessions. In turn, crude oil prices are up 3.0% to $82.65 per barrel in the opening minutes of pit trade. Meanwhile, natural gas prices are up 1.2% to $3.89 per MMbtu. Gold prices are up 3.9% to $1657 per ounce after a near 3% loss in the prior session and a 9% decline last week. Silver is up an even richer 9.0% to $32.70 per ounce, coming off of a 0.6% loss in the prior session and a 25% drop last week.

08:35 am : S&P futures vs fair value: +19.80. Nasdaq futures vs fair value: +30.00. Europe's bourses continue to climb in response to hopes that officials are putting together plans intended to stabilize the region's fiscal and financial conditions. As such, Germany's DAX has advanced 4.3%. Deutsche Bank (DB) and Commerzbank are a couple of top performers, advancing about 11% and 9%, respectively, on the 30-member German bourse. Fresenius Medical and Fresenius SE make up the only two components that have failed to find higher ground. In a recent dose of data, Germany's GfK Consumer Confidence Survey for October came in at 5.2, which is unchanged from what was reported for September. France's CAC has climbed to a 4.2% gain. Societe Generale and BNP Paribas are leading the way. Both currently boast gains of about 12%. There isn't a single stock in the FTSE 100 that has failed to find higher ground. That has helped take Britain's primary Index to a 3.0% gain. Vedanta Resources Plc, up 9%, is the top performer.

In overnight action, Asia's averages joined in the global market rally. Japan's Nikkei climbed to a 2.8% gain amid broad-based buying. Mitsubishi Paper was a top performer with its 7% advance, but Tokyo Electric Power was weak again as it shed another 6%. Hong Kong's Hang Seng surged to a 4.2% gain. Although the advance lifted many names, financial issues staged the strongest gains. Ping An Insurance was a top performer; it rebounded from its slump in the prior session to a 10% gain. Esprit and Li & Fung also stood out as top performers. Mainland China's Shanghai Composite closed with a gain of about 1% gain. Property plays performed well. According to data, 2011 industrial profits in China are up 28.2% through August.

08:05 am : S&P futures vs fair value: +19.70. Nasdaq futures vs fair value: +30.20. Stock futures are up sharply as premarket traders look to extend the prior session's advance. Most participants continue to take their cues from Europe, where aggressive buying has induced a broad-based rally. Improved sentiment there has also helped win support for the euro, which is up 0.6% to $1.359. The idea that plans to stabilize conditions in Europe are coming together has also helped improve the tone surrounding the commodity complex. In turn, oil prices are up more than 3% to almost $83 per barrel ahead of pit trade, while gold prices are up almost 5% to nearly $1670 per ounce. Once again there isn't much in the way of corporate news this morning, although Walgreens (WAG) announced better-than-expected earnings, but there are a couple of doses of data on tap. The latest data on home prices are due with the S&P/CaseShiller Home Price Index at 9:00 AM ET. The Conference Board's Consumer Confidence Index for September is due at 10:00 AM ET.

06:51 am : [BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +22.50.

06:50 am : Nikkei...8609.95...+235.80...+2.80%. Hang Seng...18130.55...+722.80...+4.20%.

06:50 am : FTSE...5209.92...+120.60...+2.40%. DAX...5527.82...+182.30...+3.40%.

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

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