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 Post subject: June 7th Thursday 2012 Emini TF ($TF_F) points +23.50
PostPosted: Thu Jun 07, 2012 4:29 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:
060712-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-2350.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +23.50 points or $2350 dollars in the Russell 2000 Emini TF ($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=105&t=1241.

To join our free chat room...log-in 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=162&t=1492

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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

June 7 (Bloomberg) -- Bloomberg's Ellen Braitman reports on the performance of the U.S. equity market today. Most U.S. stocks declined as a late-day slump in financial and technology shares erased an advance driven by China's first interest-rate cut since 2008.

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Market Update

4:30 pm : The stock market opened trade with a gain of about 1%, but by session’s end it fell to a flat finish.

A decision by China's central bank to trim its benchmark interest rate helped perpetuate a positive tone among market participants, who bid stocks up in the prior session for the S&P 500’s best one-day bounce since December. Sentiment was also helped by the belief that efforts will be made to improve banking and financial conditions in Spain and that the Fed will take steps further stimulate the domestic economy.

An in-line weekly initial jobless claims count of 377,000 did little to disrupt the positive tone ahead of the open. However, there was some disappointment associated with continuing claims, which climbed to about 3.29 million from roughly 3.26 million.

Stocks were knocked down from their early perch by a flurry of selling that came after Fed Chairman Bernanke failed to hint at plans for further quantitative easing in the immediate future during his speech before Congress.

Stocks attempted to gradually reclaim gains. From time to time the effort was interrupted by the dollar’s attempts to undo its loss. By session’s end it was down just 0.1% against a basket of major foreign currencies. The euro ended the day at the unchanged mark after it had moved up to a weekly high this morning. Despite recent relief, many pundits remain concerned that the euro will be weighed down by the persistently precarious conditions in the eurozone, most notably in Greece and Spain. Spain held a successful debt auction earlier today, but had its debt rating downgraded to BBB from A afterward.

The broad market’s afternoon flush left the Nasdaq to suffer a sizable loss. It was hurt by weakness among large-cap Tech issues. Blue chips seemed to help prop up the Dow during the day. The broad-based S&P 500 settled at the neutral line, unable to extend its advance to a third straight day.

Up by about 1% or more in the early going, Energy and Financials had been sources of strength, but both rolled over right alongside the rest of the market. Telecom stocks were clipped again, leaving the defensive-oriented sector to suffer a 0.7% loss.

Corporate news flow was limited, but consumer electronics retailer Best Buy (BBY 19.70, -0.19) announced this morning that Chairman and Founder Richard Schulze has resigned from the Board to explore options for his 20% stake in the company. Effective immediately, Hatim Tyabji will assume the Chairman role after serving as Chairman of the Audit Committee.

Advancing Sectors: Materials +0.2%, Consumer Staples +0.2%, Energy +0.2%, Industrials +0.6%, Utilities +0.7%
Unchanged: Health Care
Declining Sectors: Consumer Discretionary -0.1%, Financials -0.2%, Tech -0.4%, Telecom -0.7%DJ30 +46.17 NASDAQ -13.70 NQ100 -0.4% R2K -0.6% SP400 -0.5% SP500 -0.14 NASDAQ Adv/Vol/Dec 1017/1.63 bln/1481 NYSE Adv/Vol/Dec 1389/854 mln/1635

3:30 pm : Natural gas prices were pressured throughout pit trade. They slumped in response to a slightly larger-than-expected build of 62 bcf then extended their slide to settle with a 6.2% loss at $2.27 per MMBtu, just above its session low of $2.26 per MMBtu. Crude oil was helped in electronic trade by China's decision to cut its benchmark interest rates, but enthusiasm diminished following commentary by Federal Reserve Chairman Ben Bernanke, who failed to offer any hints about immediate plans for further economic stimulus. Crude set a pit session high of $87.03 per barrel ahead and a session low of $84.57 per barrel. It settled 0.3% lower at $84.78 per barrel.

Gold fell off its floor session high of $1628.30 per ounce all the way to a session low of $1579.40 per ounce before settling with a 2.9% loss at $1587.80 per ounce. Silver gave up its gain after setting a session high of $29.64 per ounce and slid as low as $28.36 per ounce. It was unsuccessful at erasing losses and settled floor trade at $28.50 per ounce, or 3.6% lower. DJ30 +72.01 NASDAQ -6.11 SP500 +3.17 NASDAQ Adv/Vol/Dec 1320/1.23 bln/1150 NYSE Adv/Vol/Dec 1870/510 mln/1135

3:00 pm : Stocks enter the final hour sporting solid gains. As things currently stand the S&P 500 will score its third straight advance making for a cumulative gain of about 3.5%. The stock market hasn't had such a strong three-session performance since December.DJ30 +104.60 NASDAQ +4.31 SP500 +7.15 NASDAQ Adv/Vol/Dec 1355/1.15 bln/1115 NYSE Adv/Vol/Dec 1900/475 mln/1095

2:30 pm : Shares of electronics retailer Best Buy (BBY 19.66, -0.24) are back in the red with a loss of more than 1% after the stock had overcome a sharply lower open that was brought about by news of a shakeup at the company's helm. Best Buy, which continues to face stiff consumer headwinds and fierce competition from Amazon.com (AMZN 220.00, +2.36), announced this mornging that its Chairman and Founder Richard Schulze has resigned from the Board to explore options for his 20% stake in the company. Effective immediately, Hatim Tyabji will assume the role of Chairman; he had been Chairman of the Audit Committee and since 1998 served as a director.DJ30 +111.94 NASDAQ +6.84 SP500 +8.36 NASDAQ Adv/Vol/Dec 1340/1.05 bln/1120 NYSE Adv/Vol/Dec 1925/435 mln/1060

2:00 pm : A flurry of selling in recent trade has taken stocks off of their afternoon highs. Still, the Dow continues to sport a strong gain with help from blue chips like United Tech (UTX 75.98, +2.34), Caterpillar (CAT 88.35, +1.69), and 3M (MMM 86.04, +1.41). Meanwhile, the Tech-rich Nasdaq is fighting to maintain a modest gain as shares of Cisco (CSCO 16.59, -0.09) and Oracle (ORCL 27.31, -0.22) act as a drag.DJ30 +102.78 NASDAQ +4.15 SP500 +7.35 NASDAQ Adv/Vol/Dec 1470/985 mln/975 NYSE Adv/Vol/Dec 2075/410 mln/890

1:30 pm : Stocks are making an upward push to their best levels since the early going at the same time that the dollar descends to a 0.4% loss, which makes for a new afternoon low.DJ30 +123.97 NASDAQ +13.69 SP500 +10.01 NASDAQ Adv/Vol/Dec 1330/895 mln/1110 NYSE Adv/Vol/Dec 1920/375 mln/1035

1:00 pm : Early participants were encouraged to buy stocks in response to China's decision to trim its interest rate and hopes that the Fed will take additional steps to further stimulate the economy.

Comments before Congress from Fed Chairman Bernanke that failed to hint at further quantitative easing were followed by selling, but the broad market has managed to remain in positive territory.

Energy and Financials have been key in propping up the rest of the market. The two sectors were up 1% or more in the early going, but saw their gains slashed before rebounding. Both are now up 0.7%.

Down 0.4%, the Telecom sector is in the worst shape. In fact, no other major sector is in negative territory. Its weakness comes as participants show a willingness to rotate out of the defensive-oriented sector in favor of riskier issues.

The dollar made an attempt to reverse its loss, but was rebuffed near the neutral line. It has since retreated to a 0.3% loss. A modest gain by the euro comes amid the belief that efforts will be made to improve banking and financial conditions in Spain, which recently had its debt rating downgraded to BBB from A by analysts at Fitch. The country actually held a successful debt auction earlier. DJ30 +98.28 NASDAQ +6.63 SP500 +6.98 NASDAQ Adv/Vol/Dec 1335/860 mln/1095 NYSE Adv/Vol/Dec 1905/360 mln/1030

12:30 pm : Broad market action is still choppy as the major equity averages trade with varied gains.

Treasuries also remain in positive territory. Buying interest in that space has the yield on the benchmark 10-year Note down to 1.63%. Just last week its yield was at a historical low near 1.45%. DJ30 +89.00 NASDAQ +6.08 SP500 +6.17 NASDAQ Adv/Vol/Dec 1260/750 mln/1160 NYSE Adv/Vol/Dec 1805/320 mln/1125

12:00 pm : Trade has turned choppy, but the stock market remains in positive territory with a solid gain. Efforts to reclaim gains by Energy and Financials, up 0.8% and 0.4%, respectively, have helped support the broad market lift.

Telecom continues to encounter selling, such that the sector is now at a session low with a loss of 0.5%. The sector was the strongest in May, but it has had a relatively rocky start to June. Its weakness in recent sessions comes as many market participants display a willingness to take on more risk amid improved sentiment. DJ30 +75.92 NASDAQ +3.46 SP500 +5.49 NASDAQ Adv/Vol/Dec 1365/680 mln/1045 NYSE Adv/Vol/Dec 1920/295 mln/990

11:30 am : The Dow and S&P 500 are holding steady in positive territory with modest gains, while the Nasdaq remains still at the neutral line.

The dollar continues its effort to trim its loss. It is now down less than 0.1% against a basket of major currencies after it had been markedly lower earlier this morning. The dollar's upturn comes in conjunction with a retreat by the euro, which had been up solidly, but is now down 0.1% against the greenback. DJ30 +69.86 NASDAQ +1.29 SP500 +3.79 NASDAQ Adv/Vol/Dec 1270/585 mln/1120 NYSE Adv/Vol/Dec 1830/255 mln/1050

11:00 am : Stocks have resumed their slide after attempting to stabilize in the wake of Fed Chairman Bernanke's comments before Congress.

The downturn has been broad, but Energy and Financials are leading the effort to trade lower. The two sectors were up more than 1% in the early going, but now Energy is holding on to a modest gain of only 0.3%, while Financials are at the flat line. Tech stocks have also become a drag; the sector is now down 0.2%. DJ30 +70.41 NASDAQ -1.61 SP500 +3.44 NASDAQ Adv/Vol/Dec 1500/430 mln/860 NYSE Adv/Vol/Dec 2115/195 mln/745

10:35 am : Natural gas prices were down about 1.0% a few minutes ago, but they have since dropped to $2.34 per MMBtu for a 3.4% loss following the latest weekly inventory report, which showed a build of 62 bcf when a build of 60 bcf had been broadly anticipated.

Crude oil continues to sport an enviable gain; the energy component was last quoted at $86.10 per barrel, up 1.2% for the day.

Precious metals prices have fallen to sizable losses following the dollar's effort to cut its loss and of comments from Fed Chairman Bernanke, who is currently speaking before Congress. Gold prices are now down 1.5% to $1609 per ounce, while silver sits at $28.90 per ounce with a 2.0% loss. DJ30 +100.55 NASDAQ +12.91 SP500 +8.18 NASDAQ Adv/Vol/Dec 1435/345 mln/895 NYSE Adv/Vol/Dec 1985/165 mln/840

10:05 am : Stocks are falling from their morning perch in response to prepared remarks from Fed Chairman Bernanke, who has stated that US banks have greatly improved their strength and that inflation remains contained, but that the fiscal cliff stands as a significant threat. None of the Chairman's comments suggested that the Fed has a new outlook or plans for policy adjustment.DJ30 +105.05 NASDAQ +15.79 SP500 +9.23 NASDAQ Adv/Vol/Dec 1840/130 mln/430 NYSE Adv/Vol/Dec 2380/85 mln/345

09:45 am : Strong, broad-based buying at the open has given the stock market a big gain in the early going. Participants are preparing for an economic outlook from Fed Chairman Bernanke, who is expected to begin his speech to Congress at the top of the hour. Prepared remarks may be leaked before it officially begins, though.DJ30 +120.49 NASDAQ +23.07 SP500 +12.29 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +18.30. Stock futures continue to trade with strength. The bid comes in response to an interest rate cut by China, growing hopes that Europe's leaders will address Spain's financial and banking woes, and the notion that the Fed will take some sort of accomodative action to help stimulate economic activity in light of underwhelming data and statements from political and economic leaders. Focusing on the latter group, Fed Chairman Bernanke is scheduled to share his economic outlook with Congress at 10:00 AM ET. The latest dose of data featured an in-line weekly initial jobless claims count.

09:05 am : S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +18.30. The CRB Index is currently up 0.7% with help from oil. Oil prices are up 1.6% to $86.40 per barrel in early pit trade, but natural gas prices have fallen 1.2% to $2.39 per MMBtu ahead of the commodity's weekly inventory report. As for precious metals, gold prices are down 0.6% to $1625 per ounce, but silver is unchanged at about $29.50 per ounce.

08:35 am : S&P futures vs fair value: +11.30. Nasdaq futures vs fair value: +19.80. Stock futures continue to trade with strength, but are shy of morning highs in the wake of the latest weekly initial jobless claims count, which totaled 377,000. That is on par with the 375,000 initial claims that had been expected, on average, among economists polled by Briefing.com. The latest tally is down from the upwardly revised prior week tally of 389,000, however. In contrast, continuing claims climbed. They came in at about 3.29 million, up from roughly 3.26 million.

08:05 am : S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +21.80. Looking to build on the prior session's bounce, stocks are up ahead of the open. The premarket bid comes amid a rate cut by China's central bank and a successful debt offering from Spain. Europe's bourses, which are presently up with heady gains, have helped perpetuate the positive tone. Meanwhile, the euro is up about 0.2% to $1.26 for the first time in roughly eight trading days. Weekly initial jobless claims are due at the bottom of the hour. Fed Chairman Bernanke is scheduled to speak at 10:00 AM ET. Monthly consumer credit numbers will be released at 3:00 PM ET.

06:20 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +10.30.

06:20 am : Nikkei...8639.72...+106.20...+1.20%. Hang Seng...18678.29...+157.80...+0.90%.

06:20 am : FTSE...5421.25...+37.10...+0.70%. DAX...6126.67...+32.70...+0.50%.

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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