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 Post subject: October 31st Monday 2011 Emini TF ($TF_F) points +25.90
PostPosted: Mon Oct 31, 2011 10:38 pm 
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Joined: Sat Jan 10, 2009 1:06 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: +25.90 points or $2590.00 dollars in the Russell 2000 Emini TF ($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=95&t=1039.

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=144&t=1237

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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 Decline Amid Concern About European Funding

Oct. 31 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks slumped, giving the Standard & Poor's 500 Index its biggest decline in almost a month, amid concern European leaders will struggle to raise funds to contain the region's sovereign debt crisis.

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Market Update

3:30 pm : It was a relatively quiet start to the week for commodities. Strength in the dollar, stemming from a Japanese intervention on the yen, pressured prices. .. Precious metals traded sideways. Gold prices traded in a ~10 point range, while silver futures traded in a ~20 cent range. On the session, gold shed 1.2% to finish at $1725.20 per ounce, while silver ended lower by 2.7% at $34.36 per ounce. With today's losses, silver closed lower for the first time in seven sessions.

Crude oil ended lower by 0.1% at $93.32 per barrel. Futures managed to rally heading into the close to recoup most of their overnight losses. Natural gas finished higher by a penny at $3.94.DJ30 -219.18 NASDAQ -43.94 SP500 -20.45 NASDAQ Adv/Vol/Dec 638/1.3 bln/1886 NYSE Adv/Vol/Dec 639/587.8 mln/2417

3:00 pm : Stocks continue to slog along with substantial losses and now enter the final hour of the session. Although trade today has been far from positive, stocks are still on track to close out October with a 12% monthly gain, which would be the best monthly performance for the S&P 500 since a 13.2% climb in January 1987.DJ30 -161.59 NASDAQ -28.12 SP500 -17.87 NASDAQ Adv/Vol/Dec 775/1.11 bln/1725 NYSE Adv/Vol/Dec 795/500 mln/2190

2:30 pm : Stocks have been unable to extend a recent upturn that took stocks to session highs. In turn, losses have been retraced as sellers redouble their efforts. Persistent pressure comes amid a lack of legitimate positive leadership.DJ30 -155.64 NASDAQ -27.37 SP500 -16.94 NASDAQ Adv/Vol/Dec 795/1.03 bln/1690 NYSE Adv/Vol/Dec 830/460 mln/2130

2:00 pm : The Nasdaq has moved up to a session high. In doing so, it has reduced its loss to less than 1%, making it the best performing index. Apple (AAPL 407.55, +2.60) has been a big help in the effort. Still, names like Sohu.com (SOHU 60.71, -8.29) are weighing heavily on the Nasdaq. The Chinese media and games company missed profit expectations this morning.DJ30 -139.71 NASDAQ -21.23 SP500 -14.96 NASDAQ Adv/Vol/Dec 740/940 mln/1735 NYSE Adv/Vol/Dec 820/420 mln/2150

1:30 pm : The tone of trade today has been negative since the start. As such, stocks continue to slog along in negative territory as sellers exert their control.

Commodities continue to come under pressure, too. That has the CRB Commodity Index down 1.4%.

Amid all of the negativity today, the Volatility Index has spiked more than 12% after it set a two-month low last week. DJ30 -169.95 NASDAQ -32.68 SP500 -18.62 NASDAQ Adv/Vol/Dec 650/850 mln/1805 NYSE Adv/Vol/Dec 740/385 mln/2220

1:00 pm : Euphoria related to Europe's plans to tackle its financial problems appears to have faded. That has turned many market participants into sellers.

Stocks have put together four straight weekly gains, the latest of which was underpinned by plans made in Europe to shore up the continent's financial conditions. However, participants and pundits await details pertaining to Europe's plan. Skepticism about Europe's ability to not only agree to specific plan features, but also implement them has prompted many to pare their positions. That took many of Europe's major bourses sharply lower. Domestic issues have followed suit.

Selling pressure is most acute among natural resource plays. In turn, energy stocks and materials stocks are leading losses. The two sectors are down 3.2% and 3.1%, respectively. Utilities make up the only sector that has managed to find positive territory, but they are only up 0.1% for the session.

Even though stocks have spent the entire session wrestling with widespread weakness, they remain almost 12% higher for October. That still makes for one of the stock market's best monthly performances on record.

Amid the market's weakness, Treasuries are up sharply. Buying in the benchmark 10-year Note has its price more than a point higher and its yield back below 2.20%.

The greenback has also attracted buyers, although most of its advance is owed to a dramatic downturn by the yen after Japan's officials intervened in the currency so as to curb its strength. Just last week the yen had traded at post-WWII record levels. DJ30 -171.84 NASDAQ -31.07 SP500 -18.68 NASDAQ Adv/Vol/Dec 570/785 mln/1875 NYSE Adv/Vol/Dec 665/355 mln/2295

12:30 pm : STocks have turned lower in recent trade. That puts the S&P 500 at a new session low. Among its components, MEMC Electronic Materials (WFR 5.99, -0.65), AK Steel (AKS 8.37, -0.80), and Valero (VLO 24.50, -2.23) are posting the worst losses by percent.DJ30 -193.63 NASDAQ -37.57 SP500 -21.30 NASDAQ Adv/Vol/Dec 610/695 mln/1805 NYSE Adv/Vol/Dec 710/315 mln/2225

12:00 pm : Choppy action has kept the major market averages stuck in negative territory with losses greater than 1%.

There wasn't a great deal of earnings announcements this morning, but Loews Corp (L 40.45, -0.83) and Humana (HUM 86.82, +6.47) were among the more widely held names that issued reports ahead of the open. Participants have responded negatively to the latest from holding company Loews Corp, but a much better-than-expected bottom line from managed care play Humana has sent its shares shaeply higher in the face of today's broad market slide. In other corporate news, MF Global (MF 1.20, +0.00) has reportedly filed for bankruptcy, but its shares remain halted. DJ30 -151.03 NASDAQ -29.47 SP500 -17.08 NASDAQ Adv/Vol/Dec 605/620 mln/1785 NYSE Adv/Vol/Dec 700/280 mln/2205

11:30 am : Both the Dow and the S&P 500 recently slipped back to session lows.

Natural resource plays continue to act as the heaviest drags on trade. Pressure in that space has the energy sector down 3.0% and materials stocks down 2.6%.

Even though many defensive-oriented stocks are doing a decent job of limiting their losses, telecom stocks, which often attract many investors for their stable businesses and relatively robust dividend payments, are having difficulty keeping sellers at bay. As such, the sector has fallen to a 1.4% loss, which is in step with what the broad market has suffered. DJ30 -151.52 NASDAQ -30.89 SP500 -17.97 NASDAQ Adv/Vol/Dec 550/500 mln/1800 NYSE Adv/Vol/Dec 680/235 mln/2195

11:00 am : Stocks have worked their way off of session lows, but weakness remains widespread with all 10 major sectors still in negative territory. Energy (-2.5%), materials (-2.3%), and financials (-2.1%) continue to weigh most on the broad market.

Treasuries have made a strong move higher in response to the equity market's weakness. The benchmark 10-year Note is now up nearly one full point. That has its yield back near 2.20%.

Weakness among stocks and an intervention into the yen by Japan's officials have prompted many currency traders to rotate into the dollar. The dollar is currently up 1.2% against a basket of major foreign currencies, but it is up 2.9% against the yen, which was last quoted at 77.96 yen per dollar. DJ30 -133.21 NASDAQ -26.77 SP500 -15.74 NASDAQ Adv/Vol/Dec 495/405 mln/1830 NYSE Adv/Vol/Dec 580/190 mln/2270

10:35 am : The dollar index is trading over 1% higher this morning after Japan intervened in the market to curb the strength of the yen. This drove the dollar to a 3-month high against the yen and is a key driver in today's broad market weakness.

Overall, commodities are in the red with only a couple in positive territory such as lean hogs (+1%) and lumber futures (+0.5%).

Crude oil has been in negative territory all session and hit a new session low of $91.40/barrel just under an hour ago. In current activity, crude is down 1.3% at $92.07/barrel Natural gas futures are 1.2% lower at $3.99/MMBtu.

Metals are taking a hit today on the strength in the dollar index, led by copper futures. Copper futures fell as low as $3.57/lb. during today's session and are currently down 2.8% at $3.60/lb. Gold and silver futures are lower along with copper and all three have been trading in a rather tight range so far during today's session. Gold is currently 1.2% lower at $1725.90/oz and silver is down 2.5% at $34.40/oz.DJ30 -135.25 NASDAQ -29.18 SP500 -16.16 NASDAQ Adv/Vol/Dec 461/357 mln/1849 NYSE Adv/Vol/Dec 539/173 mln/2292

10:00 am : Stocks have had no real reaction to the Chicago PMI for October. The reading slipped to 58.4 from 60.4 in September. It had been expected to come in at 58.9.

With pressure staying steady, all three major equity averages -- the Dow, Nasdaq, and S&P 500 are down well in excess of 1%. Meanwhile, small-caps in the Russell 2000 are down almost 2%, as are mid-caps in the S&P 400. DJ30 -152.60 NASDAQ -39.96 SP500 -18.63 NASDAQ Adv/Vol/Dec 270/85 mln/1830 NYSE Adv/Vol/Dec 360/60 mln/2330

09:45 am : Stocks are down sharply in the first few minutes of action. Pressure is broad in that all 10 major sectors are in the red.

Materials stocks, down 2.3%, are under the most pressure. Financials and energy plays aren't far behind, however; both of those sectors are down 2.0%.

Utilities stocks and consumer staples stocks, both defensive in nature, have done the best job of limiting losses. The two sectors are down 0.3% and 0.4%, respectively. DJ30 -150.88 NASDAQ -39.18 SP500 -17.73 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -14.90. Nasdaq futures vs fair value: -22.50. The stock market has staged heady gains this October. In fact, four straight weekly advances have the S&P 500 on pace for a monthly gain in excess of 13%, which stands as one of the broad market's best monthly performances on record. However, that has attracted some selling interest this morning. As such, stock futures point to a markedly lower start to trade. But given that stock futures are imperfect indicators, it's too early to tell if the market will trick those skeptical of its strength by treating bullish investors to another bounce.

09:05 am : S&P futures vs fair value: -15.50. Nasdaq futures vs fair value: -23.50. Commodities are being clipped aggressively this morning. That has the CRB Commodity Index down 1.3%. Driving action to the downside, crude oil prices are down 1.6% to $91.85 per barrel in the first few minutes of pit trade. As for natural gas, the energy component is currently down 1.3% to $3.99 per MMBtu. Among precious metals, gold prices have been dropped to $1722 per ounce for a 1.5% loss. Silver prices have fallen 2.8% to $34.30 per ounce. In the backdrop, the dollar has rallied 1.1% against a basket of major foreign currencies. Most of its gain is owed to a sharp drop by the yen after the country's officials intervened in the currency so as to curb its strength. For the past week the yen traded at post-WWII record highs.

08:35 am : S&P futures vs fair value: -15.30. Nasdaq futures vs fair value: -23.50. Europe's major bourses are under pressure in the first session of a new week and the final session of October. Selling pressure comes after global market participants applauded the efforts of Europe's leaders to establish a comprehensive plan aimed at shoring up financial conditions in the continent. Germany's DAX is currently down 1.6%. Deutsche Bank (DB) and Commerzbank have been a couple of heavy drags on trade. France's CAC has fallen to a 1.5% loss. Financial outfits BNP Paribas, Societe Generale, and Credit Agricole are among the poorest performers in the CAC. Britain's FTSE is currently off by 1.1% as banking plays Royal Bank of Scotland (RBS) and Lloyds Group (LYG) are battered. Barclays (BCS) has also been hit by sellers in the wake of the firm's latest report. Metals and mining plays Xstrata, BHP Billiton (BHP), and Rio Tinto (RIO) are also under heavy pressure.

Overnight action in Asia took Japan's Nikkei down 0.7%. Honda Motor (HMC) was one of its worst performing components ahead of its quarterly report. Officials in Japan intervened in the yen so as to curb its recent climb. Hong Kong's Hang Seng fell to a loss of 0.8%. Real estate plays were weak, as were financial issues like Bank of China and China Construction Bank. Real estate issues also undermined mainland China's Shanghai Composite, which closed with a more modest loss of 0.2%.

08:05 am : S&P futures vs fair value: -12.60. Nasdaq futures vs fair value: -19.80. Just as Europe's major bourses have come under pressure with the start of the new week, domestic stock futures are down this morning. That suggests that stocks could experience a weak conclusion to an otherwise very strong month. In fact, the S&P 500 is on pace to finish with October a monthly gain on the order of about 13%, which makes for one of its best monthly performances on record. The flow of earnings announcements has slowed since last week's flood. Overall results have been a bit more mixed this morning than in recent days. MF Global (MF) remains in foucs as participants await the firm's fate. The brokerage outfit received a letter that it has been suspended from conducting new business with the NY Fed. Only a small dose of data is on tap for today. The monthly Chicago PMI will be posted at 9:45 AM ET.

06:53 am : [BRIEFING.COM] S&P futures vs fair value: -11.70. Nasdaq futures vs fair value: -18.00.

06:53 am : Nikkei...8988.39...-62.10...-0.70%. Hang Seng...19864.87...-154.40...-0.80%.

06:53 am : FTSE...5642.82...-59.40...-1.00%. DAX...6247.55...-98.60...-1.60%.

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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