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 Post subject: April 10th Tuesday 2012 Emini TF ($TF_F) points +25.10
PostPosted: Tue Apr 10, 2012 8:21 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)

Attachment:
041012-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-2510.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +25.10 points or $2510 dollars in the Russell 2000 Emini TF ($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. You can read today's #FuturesTrades trading chat room logs for 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 in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=103&t=1190.

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=151&t=1432

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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. Stock Market Wrap

April 10 (Bloomberg) -- Bloomberg's Pimm Fox and Deirdre Bolton report on the performance of the U.S. financial markets today and Alcoa's unexpected first-quarter profit.

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Market Update

4:10 pm : Equities saw heavy selling today as European sovereign debt worries moved back into the forefront. Selling of peripheral debt caused the Italian and Spanish 10-yr yields to spike as much as 30 basis points to 5.67% and 5.99% respectively. The rise in yields sparked a flight into the safety of German Bunds with the 2-, 5-, and 10-yr yields falling to record lows. Here in the U.S., equities opened flat, and held their early levels until whole inventories came in with a larger than expected 0.9% gain. Sellers piled on after a few minutes of choppy trade and remained in control all session long as the Nasdaq paced today’s decline with a loss of 1.8%.

European financials saw significant selling pressure on the rise of peripheral yields. Numerous financial stocks were halted across Italy, and that weighed on Barclays (BCS 13.01, -0.73), Deutsche Bank (DB 43.50, -1.48), and Societe Generale (SCGLY.PK 4.85, -0.32).

Best Buy (BBY 21.32, -1.33) lost 5.9% after the resignation of Chief Executive Officer Brian Dunn. The company named Director Mike Mikan interim CEO until a permanent replacement is hired. Shares surged more than 4.0% in initial reaction to Mr. Dunn’s resignation, but the stock rolled over as equities sold off.

ViroPharma (VPHM 22.44, -6.17) finished down 21.6% on word that Akorn launched the generic version of the company’s Vancocin after the Food & Drug Administration denied its citizen petition regarding bioequivalence and exclusivity. Today’s weakness dropped the stock to its worst levels since November 28.

Shares of SuperValue (SVU 6.13, +0.81) gained 15.2% following the company’s better than expected fourth quarter earnings. The company announced earnings per share of $0.38 which topped Capital IQ Consensus Estimate of $0.36 per share. Revenues missed expectations, coming in at $8.23 billion on expectations of $8.32 billion.

Grain ETFs fell despite today’s bullish grains report. The USDA World Agricultural Supply and Demand report (WASDE) indicated global corn ending stocks (inventory) fell 1.82 million metric tons (mmt), or 1.5%, to 122.71 mmt, driven by inventory declines outside of the U.S. Also, South American crop production is expected to drop as estimates for Argentina (to 22 mmt from 21.5) and Brazil (to 11.5 mmt from 12) declined. Select grain ETFs Powershares DB Agriculture Fund (DBA 27.51, -0.37), iPath Dow Jones-UBS Gains Sub-Index (JJG 46.75, -0.75), and Teucrium Corn (CORN 38.79, -0.62) are moved lower on broad-based market weakness.

Treasuries saw strong gains as today’s flight to safety dropped the 10-yr yield below 2.00% for the first time in a month. Curve flattening continued with the 2-10-yr spread tightening to 169.5 basis points. Meanwhile, corporate bonds underperformed with iShares iBoxx $ Investment Grade ETF (LQD 115.52, -0.07) down 0.1%, and SPDR Barclays Capital High Yield ETF (JNK 38.69, -0.14) sliding 0.4% to see a seventh consecutive session of losses.

Wednesday’s data slate includes the weekly MBA Mortgage Index, import/export prices, the Treasury budget, and the Fed’s Beige Book. Treasury will hold a 10-yr note reopening.DJ30 -213.66 NASDAQ -55.86 SP500 -23.61 NASDAQ Adv/Vol/Dec 464/1.90 bln/2049 NYSE Adv/Vol/Dec 463/970.7 mln/2610

3:30 pm : After briefly breaking into positive territory, crude oil slid into the red and continued to trend lower until about 12:15pm ET. From there, crude chopped around near the $101.00 per barrel level, and closed its pit session with a loss of 1.3% at $101.12 per barrel. Natural gas extended losses as it saw selling pressure during floor trading, closing down 3.8% and at a new lifetime low of $2.03 per MMBtu. Elsewhere, precious metals reacted to moves in the dollar index. Both gold and silver fell into the red in morning pit trade where they tested session lows of $1632.50 per ounce and $31.11 per ounce, respectively. However, the complex saw a sharp rally into positive territory as the dollar pulled back in early afternoon trade. Gold continued to see strenght into the close of floor trading, ending the session just below its 1664.80 high. Silver chopped around the $31.60 per ounce level after its rally, closing its pit session up 0.2% at $31.58 per ounce.DJ30 -206.09 NASDAQ -58.04 SP500 -23.56 NASDAQ Adv/Vol/Dec 441/1.54 bln/2080 NYSE Adv/Vol/Dec 462/648.9 mln/2612

3:00 pm : Treasuries ended the day near session highs as European sovereign debt fears sparked a sharp selloff in equities, and produced a safe-haven bid in the complex. The long bond added 1 8/32 to finish the day at 99 27/32 after earlier buying ran it above parity for the first time in a month. A solid bid in the 10-yr produced a gain of 0.6%, and dropped its yield 4.9 basis points to 1.988% as it settled below 2.00% for the first time since March 6. Flattening continued along the yield curve as the 2-10-yr spread narrowed to 169.5 basis points. Meanwhile, corporate bonds are underperforming with iShares iBoxx $ Investment Grade ETF (LQD 115.50, -0.09) down 0.1%, and SPDR Barclays Capital High Yield ETF (JNK 38.68, -0.15) sliding 0.4% to see a seventh consecutive session of losses.DJ30 -200.52 NASDAQ -52.14 SP500 -22.05 NASDAQ Adv/Vol/Dec 461/1.40 bln/2051 NYSE Adv/Vol/Dec 441/591.1 mln/2616

2:30 pm : The dollar index is holding small gains near 79.80 after twice failing at the 80.00 level during today’s session. The dollar is seeing its strongest gains against the Canadian dollar as USDCAD is up 60 pips at 1.0030, and looking to break out above resistance at current levels. Today’s gains have the pair trading above parity and its 200-day moving with bulls now looking to test resistance in the 1.0100 area. Elsewhere, the yen is seeing a safe-haven bid as the European debt worries have sparked a flight to safety. USDJPY is down 1.0% at 80.75 with current action holding up near the pair’s 50-day moving average. Today’s weakness comes after the Bank of Japan failed to announce more easing, something which was expected by many market participants. The euro and pound are seeing relatively muted losses despite the sovereign debt worries as both trade down 0.2% at their respective 1.3085 and 1.5860. DJ30 -199.73 NASDAQ -51.86 SP500 -22.01 NASDAQ Adv/Vol/Dec 447/1.28 bln/2049 NYSE Adv/Vol/Dec 431/534.0 mln/2628

2:00 pm : Grain ETFs are not seeing the expected bump higher following today’s bullish grains report. In today’s USDA World Agricultural Supply and Demand report, global corn ending stocks (inventory) fell by 1.82 million metric tons (mmt), or -1.5%, to 122.71 mmt, driven by inventory declines outside of the U.S. Also, South American crop production is expected to drop as estimates for Argentina (22 mmt from 21.5mmt) and Brazil (11.5 mmt from 12mmt) declined.

Select grain ETFs Powershares DB Agriculture Fund (DBA 27.53, -0.35), iPath Dow Jones-UBS Gains Sub-Index (JJG 46.81, -0.69), and Teucrium Corn (CORN 38.75, -0.66) are all moving lower because of overall market weakness. Related ag stocks are lower on broad market weakness as well, including fertilizer stocks (POT, MOS), seed names (MON, SYT), farm equipment names (DE, TITN). DJ30 -181.30 NASDAQ -47.02 SP500 -19.59 NASDAQ Adv/Vol/Dec 459/1.18 bln/2028 NYSE Adv/Vol/Dec 432/491.9 mln/2621

1:30 pm : The major market averages have rolled over to session lows as the Nasdaq leads the decline with a loss of 1.7%.

ViroPharma (VPHM 23.21, -5.40) is lower by 18.9% on word that Akorn launched the generic version of the company’s Vancocin after the Food & Drug Administration denied its citizen petition regarding bioequivalence and exclusivity. Today’s weakness has dropped the stock to its worst levels since November 28. DJ30 -182.55 NASDAQ -48.96 SP500 -20.90 NASDAQ Adv/Vol/Dec 451/1.07 bln/2017 NYSE Adv/Vol/Dec 422/447.5 mln/2621

1:00 pm :

The major market averages are holding near session lows as European sovereign debt worries are back in the headlines. Selling of peripheral debt has caused the Italian and Spanish 10-yr yields to spike more than 20 basis points each to 5.67% and 5.99% respectively. The rise in yields has sparked a flight into the safety of German Bunds with the 2-, 5-, and 10-yr yields falling to record lows.

European financials are under significant selling pressure as peripheral yields continue to climb. Numerous financial stocks were halted across Italy, and that is weighing on Barclays (BCS 13.04, -0.70), Deutsche Bank (DB 43.64, -1.34), and Societe Generale (SCGLY.PK 4.90, -0.27).

Best Buy (BBY 21.65, -1.00) is down 4.4% after the resignation of Chief Executive Officer Brian Dunn. The company has named Director Mike Mikan interim CEO until a permanent replacement is hired. Shares surged more than 4.0% in initial reaction to Mr. Dunn’s resignation, but the stock rolled over as equities sold off.

Shares of SuperValue (SVU 5.86, +0.54) are up 10.2% following the company’s better than expected fourth quarter earnings. The company announced earnings per share of $0.38 which topped Capital IQ Consensus Estimate of $0.36 per share. Revenues missed expectations, coming in at $8.23 billion on expectations of $8.32 billion.

Treasuries are seeing strong gains as today’s flight to safety has dropped the 10-yr yield below 2.00% for the first time in a month. Curve flattening continues with the 2-10-yr spread trading tighter at 169.5 basis points.

Alcoa (AA 9.40, -0.20) will be on many traders’ radars this afternoon as the company will kick off earnings season when it releases its first quarter results following the closing bell. DJ30 -169.76 NASDAQ -45.56 SP500 -19.38 NASDAQ Adv/Vol/Dec 453/962.5/1986 NYSE Adv/Vol/Dec 423/401.9 mln/2611

12:30 pm : Treasuries have climbed to their best levels of the session as equity markets slide to their lows. The long bond trades up 1 13/32 at 100 00/32 with today’s buying running it above par for the first time since March 8. The flight to safety has dropped the 10-yr yield below 2.00% for the first time in a month, and has the benchmark yield more than 40 basis points below its mid-March levels. Significant curve flattening continues as the 2-10-yr spread trades tighter at 169.5 basis points. Traders now shift their attention to this afternoon’s $32 billion 3-yr note auction. DJ30 -149.89 NASDAQ -41.23 SP500 -18.09 NASDAQ Adv/Vol/Dec 442/857.5 mln/1989 NYSE Adv/Vol/Dec 426/362.3 mln/2585

12:00 pm : The major market averages trade on session lows as sellers remain in control. The S&P 500 and Nasdaq lead today’s decline with losses of 1.1% while the Dow trades down 1.0%.

Shares of SuperValue (SVU 5.83, +0.514) are up 9.5% following the company’s better than expected fourth quarter earnings. The company announced earnings per share of $0.38 which topped Capital IQ Consensus Estimate of $0.36 per share. Revenues missed expectations, coming in at $8.23 billion on expectations of $8.32 billion. DJ30 -123.82 NASDAQ -36.43 SP500 -15.66 NASDAQ Adv/Vol/Dec 461/714.5 mln/1948 NYSE Adv/Vol/Dec 474/305.2 mln/2508

11:30 am : The major averages hold near session lows as all three trade down 0.6%.

European financials are under significant selling pressure as peripheral yields continue to climb. Selling in the periphery has run the Italian and Spanish 10-yr yields up to 5.61% and 5.98% respectively while a flight to safety in German Bunds has produced record low yields for 2-, 5-, and 10-yr Bunds. Heavy buying dropped the 2-yr Bund yield to 0.100% as it slid below the 2-yr Japanese Government Bond yield for the first time ever. Numerous financial stocks are halted across Italy, and that is weighing on Barclays (BCS 13.26, -0.48), Deutsche Bank (DB 44.24, -0.74), and Societe Generale (SCGLY.PK 4.94, -0.23) are among the worst performing financials on their respective indices.DJ30 -74.70 NASDAQ -16.31 SP500 -8.35 NASDAQ Adv/Vol/Dec 578/558.2 mln/1793 NYSE Adv/Vol/Dec 584/243.3 mln/2340

11:00 am : The major averages fell to session lows as traders digested this morning’s wholesale inventories data. The Dow and S&P 500 lead the decline with losses of 0.5% while the Nasdaq sees slight outperformance with a 0.3% decline.

Best Buy (BBY 22.15, -0.50) is down 2.2% after the resignation of Chief Executive Officer Brian Dunn. The company has named Director Mike Mikan interim CEO until a permanent replacement is hired. Shares surged more than 4.0% in initial reaction to Mr. Dunn’s resignation, but have since rolled over as broad-based selling hit stocks following the wholesale inventories number. DJ30 -70.80 NASDAQ -10.15 SP500 -6.76 NASDAQ Adv/Vol/Dec 690/438.3 mln/1633 NYSE Adv/Vol/Dec 734/194.0 mln/2138

10:35 am : In Energy, May crude oil sold off sharply from its recent session high of $102.99 to a new session low of $101.65/barrel. Crude is now -0.4% at $102.04/barrel.

May natural gas was near the unchanged line overnight. Natural gas found buyers around 7:30am ET and pushed into positive territory and a new session high of $2.12.This was short-lived and nat gas began to trend lower, dropping to a new session low of $2.07 and remains near that level, currently at $2.07, down 2%.

In metals, Apr gold and May silver have sold off in recent trade and dropped to new session lows (Gold $1634.30, Silver $31.26). In current activity, both precious metals remain near that level. Gold is now -0.4% at $1638.20, while silver is -0.6% at $31.33/oz.DJ30 -51.50 NASDAQ -5.73 SP500 -4.38 NASDAQ Adv/Vol/Dec 760/363 mlnl/1547 NYSE Adv/Vol/Dec 833/166 mln/1958

10:05 am : Monthly wholesale numbers were just released. They showed a 0.9% increase in February, and that's more than the 0.5% increase that had been broadly expected. There hasn't been any real reaction among stocks to the data. The Nasdaq continues to lead the way with a 0.1% gain while the S&P 500 and Dow hold just below their respective flat lines.DJ30 -21.23 NASDAQ +3.74 SP500 -1.26 NASDAQ Adv/Vol/Dec 1044/200.4 mln/1163 NYSE Adv/Vol/Dec 1099/106.9 mln/1639

09:45 am : The major market averages are mixed in early trade. The tech-heavy Nasdaq is holding a gain of 0.2% thanks in large part to the 0.9% jump in Apple (AAPL 642.20, +5.97). Meanwhile, the S&P is flat and the Dow is off 0.1%. Wholesale inventories will be released at 10 am ET.DJ30 -10.82 NASDAQ +6.57 SP500 +0.34 NASDAQ Vol 105.4 mln NYSE Vol 70.4 mln

09:13 am : [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -2.80. Futures are pointing to a slightly lower open after hovering around the breakeven line for much of the morning. The mild weakness comes following a mixed overnight session in Asia and lower tone in Europe. Today’s data is limited to wholesale inventories which will cross the wires at 10 am ET. Earnings season kicks off after the closing bell with Alcoa announcing their first quarter results.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -0.20. Treasuries have rallied to their best levels of the morning as maturities across the complex hold small gains. An advance of 8/32 has the long bond up to 98 27/32, and has now completely mitigated the selling that occurred following the March 13 FOMC meeting. Recent buying of the 10-yr has dropped its yield to 2.03% as it looks for its first sub 2.00% print in a month. Today’s flight to safety is apparent in German Bunds as both the 2- and 5-yr yields fell to respective record lows of 0.112% and 0.664%. Participants continue to monitor the 10-yr Bund yield which is just a couple of basis points above its September 23 record low of 1.636%.

08:29 am : [BRIEFING.COM] S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: +0.50. Global equity markets returned to full capacity today after many saw an extended Easter weekend. Asian markets saw a mixed session as Hong Kong and Australia played catch up while markets across Europe are lower in their return to trade.

Asian markets finished mixed (Nikkei -0.1%, Hang Seng -1.2%, Shanghai +0.9%) during what was a rather busy overnight session. The Nikkei shed 0.1% after the Bank of Japan failed to provide relief for exporters as it left its policy unchanged. The index fell for a sixth consecutive session with Sharp tumbling 4.3% on word it may post a large than expected 2011 loss than was previously estimated. China’s trade balance posted an unexpected surplus of $5.4 billion, but imports rose just 5.3% (9.0% expected), a sign of weaker than expected demand. The Shanghai Composite advanced 0.9% on the news with financials leading the way. China Citic Bank rallied 2.6% and China Construction Bank gained 1.5%. Elsewhere, Hong Kong’s Hang Seng dropped 1.2% with heavyweight HSBC falling 1.8%.

European markets are lower (FTSE -0.9%, CAC -1.5%, DAX -1.0%) in afternoon trade as a surge in Italian and Spanish yields weighs. Both countries are seeing yields up as much as 25 bps with their 10-yr yields climbing to 5.57% and 5.92% respectively. Britain’s FTSE is -0.9% as financials pace the decline. Barclays and Lloyds Banking Group are the worst performing financials, trading down 3.1% and 2.7% respectively. Meanwhile, France’s CAC is off 1.5% as automakers remain weak. Peugeot and Renault are both seeing losses of at least 3.4%. Elsewhere, Germany’s DAX is -1.0% as steelmakers weigh. Salzgitter and ThyssenKrupp are both lower by close to 2.0%.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: +1.80. Equity futures are little changed this morning as global equity markets return to full capacity following the Easter holiday. China’s February trade balance posted an unexpected surplus of $5.4 billion, but imports rose just 5.3% (9.0% expected), indicating demand was not as robust as anticipated. Elsewhere, the Bank of Japan opined last night, and much to the chagrin of exporters, left its policy unchanged. Today’s data is limited to wholesale inventories which will be released at 10 am ET. Alcoa will kick off earnings season as they are set to announce their first quarter results following the closing bell.

06:24 am : [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -0.80.

06:24 am : Nikkei...9538.02...-8.20...-0.10%. Hang Seng...20356.24...-236.80...-1.20%.

06:24 am : FTSE...5677.72...-46.00...-0.80%. DAX...6720.57...-54.70...-0.80%.

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

http://www.thestrategylab.com
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