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 Post subject: November 7th Monday 2011 Emini TF ($TF_F) points +37.90
PostPosted: Mon Nov 07, 2011 10:07 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: +37.90 points or $3,790 dollars in the Russell 2000 Emini TF ($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=96&t=1048.

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=119&t=718.

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=145&t=1269

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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.

Stocks Rise as ECB's Stark Says Crisis to Be Controlled

Nov. 7 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks rose, following the first weekly retreat in the Standard & Poor's 500 Index since September, as the European Central Bank's Juergen Stark said the region's debt crisis will be under control in two years.

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Market Update

4:30 pm : A lack of leadership left stocks to roll over this morning, but buyers provided an afternoon lift that helped the major averages settle near session highs with solid gains.

The mood this morning was relatively mixed as market participants ruminated over the implications of a resignation by Greece Prime Minister Papandreou. Last week the Papandreou unnerved many officials, and markets for that matter, by proposing a referendum for the country's bailout package. It is expected that a new prime minister will be named tomorrow. The future of Italy's prime minister was questioned this morning.

Rumors about his possible resignation came amid concerns about the country's fiscal and financial conditions, which continue to drive yields on the Italian debt to new heights. Italy canceled an auction of short-term Notes that was scheduled for later this week.

Although the primary market averages of Italy and Greece scored gains of 1.3% and 1.7%, respectively, the rest of the region failed to find inspiration from those headlines. In turn, the EuroStoxx 50 fell 0.7% in its first session of the new week. For that matter, many of Asia's major averages were weak in overnight trade.

Despite the generally weak action abroad, domestic stocks attempted to trade higher in the opening minutes of trade. Energy issues offered early leadership, but it proved fleeting as the sector inevitably rolled over alongside the rest of the market.

There wasn't any specific headline that brought buyers back into the fold, but the rally by stocks began around the same time that the euro rebounded against the greenback. Even then there weren't any individual leaders, but the Dow still bounced almost 200 points from its low to its high. Meanwhile, the Nasdaq was able to offset a 1% loss.

Although the climb continued right up until the close, share volume was quite paltry, suggesting that there wasn't a great deal of conviction underlying the bidding. By day's end, less than 800 million shares had been traded on the NYSE. Outside of averages, 1 billion shares often makes for a convenient benchmark for share volume and participation.

Advancing Sectors: Health Care +1.2%, Telecom +0.8%, Materials +0.8%, Energy +0.7%, Consumer Staples +0.7%, Tech +0.7%, Utilities +0.6%, Consumer Discretionary +0.5%, Financials +0.4%, Industrials +0.2%
Declining Sectors: (None)DJ30 +85.15 NASDAQ +9.10 NQ100 +0.6% R2K -0.2% SP400 -0.1% SP500 +7.89 NASDAQ Adv/Vol/Dec 1091/1.71 bln/1437 NYSE Adv/Vol/Dec 1638/783 mln/1329

3:30 pm : The focus of commodity markets was once again the European debt crisis. Focus shifted, momentarily, from Greece to Italy and whether or not the Italian Premier, Silvio Berlusconi, will step down. The continued uncertainty about what is happening in the Eurozone sent precious metals higher in a flight to safety. Gold futures rallied for 1.9% to close at $1791 per ounce, while silver futures ended up 2.2% at $34.83 per ounce.

It was a relatively quiet session for crude oil futures, which settled higher by 1.3% at $95.52 per barrel. Prices traded in a ~50 cent range for a majority of the session, but managed to catch a bid heading into the close to finish with gains of 1.3%. Dec natural gas ended lower by 2.2% at $3.70. DJ30 +37.16 NASDAQ +0.97 SP500 +4.77 NASDAQ Adv/Vol/Dec 1020/1.4 bln/1506 NYSE Adv/Vol/Dec 1485/552.9 mln/1514

3:00 pm : Stocks continue to work their way higher, putting the major equity averages face to face with session highs. The market's move off of session lows has come amid broad-based buying support, rather than any individual form of leadership.

Consumer credit data were just released. According to the numbers, consumer credit climbed by $7.4 billion in September. That exceeded the increase of $5.0 billion that had been broadly anticipated. DJ30 +44.01 NASDAQ +3.34 SP500 +4.05 NASDAQ Adv/Vol/Dec 940/1.23 bln/1570 NYSE Adv/Vol/Dec 1320/480 mln/1620

2:30 pm : Stocks have extended their rebound from session lows. For the Dow, that has made for a bounce of about 100 points. The Nasdaq, although well above its session low, has yet to return to positive territory, however.DJ30 +22.60 NASDAQ -2.38 SP500 +1.66 NASDAQ Adv/Vol/Dec 790/1.10 bln/1715 NYSE Adv/Vol/Dec 1135/425 mln/1790

2:00 pm : A barrage of buying interest has stocks charging higher. Although they aren't yet back to their best levels of the day, stocks are now up nicely from the lows that were set around mid-session.

There hasn't been any headline to account for the stock market's recent upturn, but it has coincided with a bounce by the euro, which is now at $1.376 for only a fractional loss. DJ30 -11.42 NASDAQ -10.83 SP500 -1.23 NASDAQ Adv/Vol/Dec 605/995 mln/1890 NYSE Adv/Vol/Dec 845/380 mln/2080

1:30 pm : Stocks are slowly working their way up from session lows, but losses remain rather marked. The move is causing some to rotate out of Treasuries, which are now pulling back from session highs. Still, the benchmark 10-year Note remains about a half point higher for the session. That's enough to keep its yield just below 2.00%.DJ30 -65.46 NASDAQ -22.31 SP500 -6.64 NASDAQ Adv/Vol/Dec 565/920 mln/1930 NYSE Adv/Vol/Dec 760/350 mln/2140

1:00 pm : Stocks stuck at session lows with sizable losses. Pressure comes amid a lack of positive leadership.

On the heels of last week's slide, early participants initially provided a bid for stocks, but there wasn't much conviction behind the buying effort. In turn, sellers stepped in and sent stocks into the red. Steady pressure has kept the major market averages near session lows.

Energy issues had offered support in early action, climbing to gain of about 1% shortly after the open, but that has been almost completely reversed. Energy plays now trade with a collective loss of about 0.9%.

Financials and tech are trading with similar losses. The two represent the largest sectors by market weight, giving them the most influence over broad market direction.

Every single sector is in negative territory, but health care issues have done the best job of limiting losses -- the sector is presently down just 0.2%. Amgen (AMGN 57.73, +2.56) is a top performer in the space after the company announced plans to issue debt and buy back stock.

Many market participants continue to keep their eyes on Europe, where many of the region's major bourses moved lower in the first session of the new week. Sentiment there remains weak in the wake of the resignation of Greece's prime minister and worries about the state of finances in Italy, where yields on debt continue to climb. DJ30 -79.50 NASDAQ -29.18 SP500 -9.12 NASDAQ Adv/Vol/Dec 550/860 mln/1935 NYSE Adv/Vol/Dec 730/330 mln/2175

12:30 pm : A sudden flurry of selling pressure has knocked stocks another leg lower, leaving the major market averages to trade at new session lows. Of the three primary indices, the Nasdaq remains in the worst shape.

The move by stocks coincides with a decline by the euro, which now trails the greenback by about 0.4% at $1.373. The dollar's strength today adds to its 2.5% climb last week. DJ30 -91.76 NASDAQ -34.32 SP500 -11.49 NASDAQ Adv/Vol/Dec 620/765 mln/1835 NYSE Adv/Vol/Dec 895/290 mln/1990

12:00 pm : Selling pressure against financials has picked up in recent trade. The sector now trades with a loss of nearly 1%, which makes it one of today's worst performing groups.

Within the financial sector, global banking and diversified financial services giant Bank of America (BAC 6.36, -0.13) has been a heavy drag on the space. In contrast, primary competitor JPMorgan Chase (JPM 33.92, -0.05) has managged to limit its loss to only a fraction. DJ30 -60.92 NASDAQ -25.54 SP500 -7.97 NASDAQ Adv/Vol/Dec 595/675 mln/1840 NYSE Adv/Vol/Dec 825/255 mln/2035

11:30 am : Stocks recently attempted to rebound from session lows, but the move has been rebuffed by sellers. Renewed pressure has stocks back near their worst levels of the day.

Energy stocks are no longer providing the support that they did in the first hour of trade. Energy stocks had been up by about 1% at their session high, but the sector has since retreated to a 0.4% loss. Weakness among refiners, including Valero (VLO 25.53, -0.27) and Tesoro (TSO 28.48, -0.32), has proven problematic for the sector. DJ30 -50.10 NASDAQ -25.93 SP500 -7.11 NASDAQ Adv/Vol/Dec 640/605 mln/1765 NYSE Adv/Vol/Dec 940/220 mln/1905

11:00 am : Stocks have slid to session lows in the past few minutes. The Nasdaq's descent has been steeper than that of either of its counterparts. In fact, the Nasdaq's loss is currently twice the size of what the broad market has suffered. Its weakness comes as software-related names like Electronic Arts (ERTS 24.38, -0.82), Take-Two Interactive (TTWO 15.48, -0.42), and Adobe (ADBE 29.29, -0.50) tumble.DJ30 -35.95 NASDAQ -24.98 SP500 -5.00 NASDAQ Adv/Vol/Dec 580/475 mln/1790 NYSE Adv/Vol/Dec 930/170 mln/1880

10:30 am : The dollar index moved into the red about 45 minutes ago, which is helping provide price support to commodities this morning.

Crude oil futures have be trading in positive territory all morning and rose as high as $95.74/barrel. Crude pulled back below the $95 a short while ago and is now at $94.77, up 0.5%. Natural gas is the only energy component in negative territory and is currently down 2.5% at $3.80/MMBtu. Nat gas has been in the red all session and is currently just above its session low of $3.78/MMBtu.

Precious metals have been strong all morning, but copper is showing modest weakness. Platinum is up 1.4% at $1652.20/oz. Gold and silver have been steadily higher this morning and hit session highs of $1783.80/oz and $34.87/oz, respectively. Gold is now sitting at $1779.40, up 1.3% and silver is at 34.59, up 1.5%. Copper is currently down 3 cents at $3.54/lb.

In overnight trade, corn futures fell 1 cent to $3.54/bushel, wheat was unchanged at $6.37/bu and soybeans lost 4 cents at $12.17/bu.DJ30 -4.61 NASDAQ -12.82 SP500 -1.66 NASDAQ Adv/Vol/Dec 728/385 mln/1598 NYSE Adv/Vol/Dec 1162/140 mln/1616

10:00 am : Stocks are starting to pull back after attempting to extend an upward push from opening levels. Energy had been a source of early strength, running ahead to a 1% gain, but the sector has since surrendered more than half of that move.

Tech and financials, which respectively represent the two largest sectors by market weight, are dragging on early trade. Both sectors are down 0.1%. DJ30 +39.40 NASDAQ +0.54 SP500 +2.68 NASDAQ Adv/Vol/Dec 960/110 mln/1060 NYSE Adv/Vol/Dec 1640/50 mln/960

09:45 am : Stocks recently poked into positive territory, but the move has struggled to generate much momentum. In turn, the major equity averages are op only narrowly in the opening minutes of trade.

That said, energy stocks are showing early leadership. The sector has already run up to a 1.0% gain. Of course, that's been made easier by a recent run up in oil prices, which opened pit trade with only modest gains, but have since climbed to $95.35 per barrel for a 1.2% gain. DJ30 +45.75 NASDAQ +3.42 SP500 +4.24 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -3.30. Stock futures are up from their morning lows. They now point to a flat to slightly lower start for the session. The generally lackluster tone ahead of the open comes as market participants monitor the events of Europe, where most of the region's major bourses are down modestly amid news that Greece's prime minister has stepped down from his post, leaving officials there to establish a unified political front while simultaneously wrestling with moribund economic and financial conditions. In a similar vein, concern over the health of Italy's finances has called into question the future of Italy's prime minister.

09:05 am : S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: -7.80. Commodities are mixed this morning, leaving the CRB Commodity Index to trade only fractionally above the flat line. Among the more closely tracked commodities, oil prices are up 0.3% to $94.55 per barrel in the first few minutes of pit trade, but natural gas prices have dropped 2.4% to $3.80 per MMBtu. Meanwhile, gold prices are up 1.2% to $1777.50 per ounce and silver prices are up 1.5% to $34.58 per ounce.

08:35 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -11.30. Overall sentiment in Europe remains relatively weak following the decision by Greece's prime minister to step down from his post. The move has left the country to establish a unified political front while simultaneously wrestling with a flagging economy and moribund financial conditions. On a related note, it has been rumored that Italy's prime minister is considering a resignation, although there are reports refuting such claims. Greece's Athex 20 is currently up 1.6%, while Italy's benchmark average is up 1.7%, but weakness in the rest of the region has the EuroStoxx 50 down 0.8%. Meanwhile, Germany's DAX is down 0.4%, France's CAC is off by 0.6%, and Britain's FTSE has fallen 0.7%.

Overnight action in Japan took the Nikkei down to a 0.4% loss. Mitsumi Electric and Furukawa Electric fell especially hard. Olympus also suffered a precipitous drop. Hong Kong's Hang Seng shed 0.8% amid weakness in financial issues. China Construction Bank was one of the worst performers. Mainland China's Shanghai Composite closed 0.7% lower. Real estate plays were among the poorest performers.

08:05 am : S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -10.50. Trade last week ended on a down note, contributing to a 2.5% weekly loss, which was actually the market's first weekly slide in more than a month. According to stock futures, sentiment didn't improve during the weekend. Market participants are assessing news that Greece's prime minister will step down from his post and rumors about the future of Italy's prime minister has also been questioned. There aren't many corporate reports of consequence out this morning. With fewer blue chips in the bunch the number of positive earnings surprises has waned, making for a more mixed earnings picture than what has been reported in recent weeks. As for data, only monthly consumer credit figures are on tap for today -- they are due at 3:00 PM ET. The flow of data is expected to be light all week.

06:56 am : [BRIEFING.COM] S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: -10.50.

06:56 am : Nikkei...8767.09...-34.30...-0.40%. Hang Seng...19677.89...-164.90...-0.80%.

06:56 am : FTSE...5491.14...-36.00...-0.70%. DAX...5969.37...+3.20...+0.10%.

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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