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 Post subject: February 8th Wednesday 2012 Emini TF ($TF_F) points +10.10
PostPosted: Thu Feb 09, 2012 1:13 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:
020812-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1010.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +10.10 points or $1010 dollars in the Russell 2000 Emini TF ($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=101&t=1137.

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 price action 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 price action 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=149&t=1370

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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.

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Market Update

4:30 pm : For the second straight session a dearth of headlines left stocks to slog along in mixed fashion, but the broad market still mustered a modest gain, which marked its fifth advance in six sessions and its best close in seven months.

Stocks gave up early gains to trade with modest losses, but they were able to gradually battle their back into positive territory. Financials and tech issues, arguably the two most influential sectors, traded out in front of the action. Strength in the two sectors resulted in gains in 0.8% and 0.7%, respectively.

Ralph Lauren (RL 171.49, +14.42) was a top performer by percent gained. The stock's surge to a record high followed an upside earnings surprise. Dow component Walt Disney (DIS 41.27, +0.29) also posted better-than-expected earnings, as did Time Warner (TWX 38.54, +0.44). Time Warner complemented its report with strong guidance and a dividend hike, but the stock failed to sustain an early advance. Sprint (S 2.41, -0.04) rebounded from an early slump that came in response to an earnings miss, but the stock ultimately returned to the red.

There wasn't a single dose of data released today. And although headlines suggested that the Troika is looking for Greece to pledge permanent spending cuts, terminate government jobs, trim its minimum wage, and increase sales tax, market participants also continue to await official developments from the flagging country.

Both the dollar and the euro had a relatively quiet day of trade. As of the closing bell, both were essentially flat for the session.

Treasuries also traded quietly. Not even strong demand at an auction of 10-year Notes drove traders to action. The auction drew a bid-to-cover of 3.05, dollar demand of $73.2 billion, and an indirect bidder participation rate of 38.9%. For comparison, an average of the past six auctions results in a bid-to-cover of 3.10, dollar demand of $67.9 billion, and an indirect bidder rate of 43.4%.

The lack of headlines and action continues to make for paltry participation. That left share volume on the NYSE below 800 million once again.

Advancing Sectors: Financials +0.8%, Tech +0.7%, Industrials +0.2%, Materials +0.2%, Consumer Discretionary +0.2%
Unchanged: Telecom, Utilities, Consumer Staples
Declining Sectors: Health Care -0.1%, Energy -0.6%DJ30 +5.75 NASDAQ +11.78 NQ100 +0.5% R2K +0.1% SP400 +0.1% SP500 +2.91 NASDAQ Adv/Vol/Dec 1428/1.97 bln/1099 NYSE Adv/Vol/Dec 1741/765 mln/1257

3:30 pm : Oil prices pressed sharply higher in early pit trade, but ultimately the move proved unsustainable. As a result of the pullback oil settled with a narrow gain of only 0.2% at $98.70 per barrel. Elsewhere in the energy complex, natural gas prices fell to $2.44 per MMBtu for a 1.2% loss.

Precious metals were clipped for sharp losses after they had been only narrowly lower in the early going. Silver settled with a 1.4% loss at $33.76 per ounce, while gold gave up 1.0% to close pit trade at $1731.40 per ounce. DJ30 +1.40 NASDAQ +10.03 SP500 +2.44 NASDAQ Adv/Vol/Dec 1400/1.57 bln/1120 NYSE Adv/Vol/Dec 1675/525 mln/1285

3:00 pm : Stocks have moved up to afternoon highs as they enter the final hour of the session. Overall gains are only modest, though.

So far this week market participants have gone without any data to trade on, but tomorrow brings the latest weekly initial jobless claims count. The European Central Bank and the Bank of England are also expected to make announcements regarding their respective monetary policies.

After the close, Akamai Tech (AKAM 34.28, +0.63), News Corp (NWSA 19.57, +0.07), Prudential (PRU 60.11, -0.32), Visa (V 107.75, +0.77), Whole Foods (WFM 77.87, +2.07), and Dow component Cisco (CSCO 20.32, +0.11) are slated to announce earnings results. PepsiCo (PEP 66.76, +0.00) reports tomorrow morning. DJ30 +4.12 NASDAQ +10.43 SP500 +2.63 NASDAQ Adv/Vol/Dec 1260/1.39 bln/1220 NYSE Adv/Vol/Dec 1545/465 mln/1415

2:30 pm : Stocks continue to listlessly slog along. The action, or lack thereof, has made for some rather unexciting theatre.

Meanwhile, the dollar has been caught in a sideways drift along the unchanged line for the past couple of hours. Treasuries have also spent the session holding close to the neutral line. DJ30 -5.56 NASDAQ +5.78 SP500 +1.00 NASDAQ Adv/Vol/Dec 1180/1.28 bln/1300 NYSE Adv/Vol/Dec 1405/430 mln/1545

2:00 pm : Stocks continue to trade along the neutral line. The listless drift comes amid a dearth of headlines. Such was also the case in the prior session.

Semiconductor stocks are displaying strength in the face of the lackluster action. That has the Philadelphia Semiconductor Index sporting a gain greater than 1%. The move precedes the latest quarterly report from Cisco (CSCO 20.20, +0.00), which is scheduled to announce after the close. DJ30 -16.92 NASDAQ +2.02 SP500 -0.33 NASDAQ Adv/Vol/Dec 245/1.20 bln/1225 NYSE Adv/Vol/Dec 1490/400 mln/1560

1:30 pm : Results from an auction of 10-year Notes proved extremely strong. The auction drew a bid-to-cover of 3.05, dollar demand of $73.2 billion, and an indirect bidder participation rate of 38.9%. For comparison, the prior auction drew a bid-to-cover of 3.29, dollar demand of $69.1 billion, and an indirect bidder rate of 38.3%. Meanwhile, an average of the past six auctions results in a bid-to-cover of 3.10, dollar demand of $67.9 billion, and an indirect bidder rate of 43.4%.

Despite the strong demand at the auction, the benchmark 10-year Note remains mired near the neutral line. That's kept its yield just below 2.00%. DJ30 -17.29 NASDAQ +3.74 SP500 -0.05 NASDAQ Adv/Vol/Dec 1220/1.13 bln/1250 NYSE Adv/Vol/Dec 1385/380 mln/1530

1:00 pm : Stocks have spent the session muddling along in mixed fashion. The listlessness has kept the broad market near the neutral line.

The major equity averages mustered modest gains in the early going, but the move proved unsustainable. As sellers applied pressure each of the three major indices slipped into the red, but they have all spent the past hour recovering gradually.

Although not exactly leaders, financials have been a source of support. The sector currently trades with a 0.3% gain. In contrast, a 0.8% loss among energy plays is dragging on broad market trade.

Quarterly reports have spurred some stock-specific swings, but they've generally had little influence over broad market trade. Ralph Lauren (RL 170.70, +13.63) shares have surged to a record high following an upside earnings surprise. Dow component Walt Disney (DIS 41.32, +0.34) and fellow media play Time Warner (TWX 38.54, +0.44) are sporting solid gains following upside earnings surprises of their own. Meanwhile, Sprint (S 2.42, -0.03) is down markedly following its earnings miss. DJ30 -15.10 NASDAQ +1.96 SP500 -0.32 NASDAQ Adv/Vol/Dec 1155/1.01 bln/1280 NYSE Adv/Vol/Dec 1360/345 mln/1545

12:30 pm : The top of the hour brings results from an auction of 10-year Notes. The benchmark 10-year is currently down only fractionally for the day. As a result, its yield is still narrowly beneath 2.00%. Just one week ago the yield on the benchmark Note was at a multi-month low near 1.80%.DJ30 -28.95 NASDAQ -2.53 SP500 -1.62 NASDAQ Adv/Vol/Dec 1060/900 mln/1366 NYSE Adv/Vol/Dec 1270/315 mln/1625

12:00 pm : Stocks are trying to work their way up from session lows, but the three major equity averages remain in the red with modest losses.

The dollar has been experiencing a some minor swings in recent trade. Following an upward move off of the flat line, the greenback is now back to the unchanged mark against a basket of major foreign currencies. Measuring the greenback against that basket, the Dollar Index is currently down about 0.5% for the week. Most of that decline is owed to a stronger euro, which is flat today, but up 0.8% against the greenback week to date. DJ30 -36.71 NASDAQ -5.49 SP500 -2.46 NASDAQ Adv/Vol/Dec 995/815 mln/1405 NYSE Adv/Vol/Dec 1185/285 mln/1705

11:30 am : Stocks have fallen another leg lower in recent trade. The decline has all three major equity averages at new session lows. Overall losses remain modest, however.

Europe's bourses are in the process of settling for the day. As things currently stand, both Germany's DAX and France's CAC are expected to close near the neutral line. Britain's FTSE is facing a modest loss.

The lackluster action across the Atlantic comes as traders there continue to await progress in Greece's negotiations with creditors and officials looking to establish and implement new austerity measures that will ultimately go toward protecting against bankruptcy. DJ30 -46.13 NASDAQ -8.08 SP500 -3.51 NASDAQ Adv/Vol/Dec 1115/690 mln/1260 NYSE Adv/Vol/Dec 1420/245 mln/1430

11:00 am : Stocks recently ran into a flurry of selling pressure, which dropped the Dow into the red. The S&P 500 was able to find support at the flat line, while the Nasdaq tested its morning low narrowly above the neutral line.

As was the case in the prior session, stocks are without any clear source of leadership. That said, financials have held up relatively well in the face of the broad market's recent slip; the sector is currently up 0.5%. DJ30 -17.94 NASDAQ +0.53 SP500 +0.83 NASDAQ Adv/Vol/Dec 1320/535 mln/1000 NYSE Adv/Vol/Dec 1695/195 mln/1105

10:40 am : The dollar index recently hit a new session low, but just climbed back into positive territory, which is adding some selling pressing of select commodities.

In energy, Mar crude oil has been in positive territory all session and just broke through the $100 mark about 9 minutes after floor trading began, which pushed crude to a new session high of $100.05. Following inventory data, which showed a build of 0.3 mln vs consensus which called for a build of 2.5 mln, crude moved lower, but is still 0.6% higher in current trade at $99.02/barrel./

Feb natural gas, on the other hand, has spent most of the morning in the red, but just moved back to the unchanged line and is now up 2 cents at $2.49.

In metals, Apr gold and March silver selling off and are hitting new session lows. Gold is now down0.4% at $1741.00/oz and silver is down 0.4% at $34.05/oz.DJ30 +4.54 NASDAQ +12.40 SP500 +2.88 NASDAQ Adv/Vol/Dec 1379/486 mln/940 NYSE Adv/Vol/Dec 1762/186 mln/1042

10:00 am : Stocks have attemted to trade slightly higher, but overall gains remain only modest.

Consumer discretionary stocks are showing strength. The sector's 0.6% gain has put it neck-and-neck with materials stocks. Consumer discretionary plays are currently led by the likes of Ralph Lauren (RL 175.83, +18.76), which has surged to a new 52-week high following its latest quarterly report. DJ30 +10.60 NASDAQ +9.07 SP500 +3.29 NASDAQ Adv/Vol/Dec 1215/130 bln/880 NYSE Adv/Vol/Dec 1685/70 mln/920

09:45 am : The major stock averages are currently oscillating narrowly above the neutral line amid mixed underlying action.

Materials stocks have put together a strong start, however. The sector is up 0.4% with help from Agrium (AGU 83.69, +2.49), which posted an upside earnings surprise for its latest quarter.

Utilities stocks were the strongest performers of the prior session, but today they're down with a modest loss of 0.2%. DJ30 +6.70 NASDAQ +5.39 SP500 +2.41 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +2.50. Stock futures suggest that the cash market will open on a flat note. The neutral tone comes amid an absence of official reports detailing new developments in Greece, although most overseas markets are displaying strength. Market participants enter today's trade without a single dose of economic data. There isn't any scheduled for later either. Quarterly reports from Walt Disney (DIS 41.47, +0.49), CVS Caremark (CVS 43.75, +0.67), and Time Warner (TWX 38.95, +0.85) are in the mix this morning, but their announcements hardly make for a full list of heavy hitters. Note: ticker quotes reflect premarket prices. The dearth of headlines is likely to perpetuate depressed trading volume, which has been a recurring theme over the past few months.

09:05 am : S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +2.30. Oil rallied in the prior session and has extended that move into today's trade. The energy component was last quoted with a 1.4% gain at $99.80 per barrel. Weekly oil inventory numbers are due at 10:30 AM ET. Natural gas prices are presently off by 0.6% at $2.46 per MMBtu. Precious metals are under only modest pressure this morning, such that gold was last quoted with a 0.3% loss at $1743 per ounce, while silver is off by 0.1% at $34.15 per ounce. Overall action in the commodity complex has the CRB Index up 0.3% this morning.

08:35 am : S&P futures vs fair value: +2.70. Nasdaq futures vs fair value: +4.80. Europe's bourses are displaying strength today, although there are still no new official reports on the status of Greece. Germany's DAX is currently on pace for a 0.7% gain. Strength is broad there, but Commerzbank currently boasts the top position among the best performers. The country's trade balance for December totaled 12.9 billion euros, which is down from the balance of 15.9 billion euros booked in the prior month. Financial outfits in France like Credit Agricole, BNP Paribas, and Societe Generale have helped the country's CAC climb to a 0.6% gain. Britain's FTSE is presently flat. Lloyds Group (LYG 2.25) is a leader there; its efforts have been complemented by Royal Bank of Scotland (RBS 9.27, +0.17), even though shares of RBS were downgraded by analysts at Citigroup. Vodafone (VOD 27.64, -0.30) has been a heavy drag. Meanwhile, BP Plc (BP 46.46, -0.14) is down modestly after analysts at Societe Generale downgraded the stock.

Overnight action in Asia was broadly positive. Japan's Nikkei put together a 1.1% gain that took it to a new multi-month closing high. Kubota Corp and Mazda Motor were top performers there; both spiked in excess of 7%. Toyota Motor (TM 81.50, +1.89) also impressed by staging a 5% gain. Hong Kong's Hang Seng scored a 1.5% gain, which gave the Index its highest finish in six months. Property plays outperformed after they had traded with weakness in each of the two previous sessions. Mainland China's Shanghai Composite slid in the prior session, but rallied in the latest round of trade for a 2.4% gain. Energy stocks showed considerable strength amid the decision by officials to raise gasoline and diesel prices. The country's central bank stepped in to provide support to the real estate market by instructing lenders to accommodate first-time homebuyers. The country is scheduled to make its monthly report on consumer prices tomorrow.

Note: all ticker quotes reflect premarket prices.

08:05 am : S&P futures vs fair value: +2.70. Nasdaq futures vs fair value: +4.80. Stocks drifted to narrow gains yesterday. The crawl has extended into premarket trade so that broad market futures barely lead fair value. In the backdrop, overnight action in Asia was generally strong, and Europe's bourses are currently up with modest gains.

Earnings results last evening featured an upside surprise from Walt Disney (DIS 40.41, -0.57), but that hasn't been enough to keep away sellers ahead of today's open. Earlier this morning Time Warner (TWX 39.10, +1.00) served up an upside surprise of its own and issued strong guidance. The company also increased its annual dividend by 11% to $1.04 per share. Meanwhile, CVS Caremark (CVS 44.02, +0.94) posted in-line earnings results and Sprint (S 2.45, +0.00) came short of the consensus. Note: ticker quotes reflect premarket prices.

No economic reports are scheduled for release today, but the calendar does include a weekly oil inventory report at 10:30 AM ET and results from an auction of 10-year Treasury Notes at 1:00 PM ET.

06:29 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +4.50.

06:29 am : Nikkei...9015.59...+98.10...+1.10%. Hang Seng...21018.46...+319.30...+1.50%.

06:29 am : FTSE...5903.08...+12.80...+0.20%. DAX...6795.70...+41.50...+0.60%.

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)
Image@ http://twitter.com/wrbtrader, http://stocktwits.com/wrbtrader and http://chart.ly/users/wrbtrader

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