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 Post subject: November 22nd Friday Trade Results - Profit $2620.00
PostPosted: Fri Nov 22, 2013 9:09 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)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1,370.00 dollars or +13.70 points, Emini ES ($ES_F) futures @ $1,250.00 dollars or +25.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2,620.00 dollars.

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
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all of my trades were posted real-time in the chat room. You can read today's chat room logs for details about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) along with price action commentary as the trade traversed to its completion...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=123&t=1656

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). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image Price Action Analysis via 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 Trade Signal Strategies via 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=223&t=2061

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Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

S&P 500 Above 1,800. Dow Hits Record Again

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney)
Stocks rose further into record territory Friday, as expectations that the Federal Reserve will keep buying bonds for the foreseeable future offset concerns the market is overheating.

The S&P 500 closed above 1,800 for the first time ever. The Dow Jones Industrial Average rose to a new all-time high above 16,000, a key level crossed for the first time this week. The Nasdaq rose nearly 0.5%, and is less than 10 points from 4,000, a level not seen since 2000.

The Dow and S&P 500 both ended higher for a seventh week. The Nasdaq posted its third consecutive weekly gain.

Since January, the Dow has climbed by 22%, the S&P 500 is up by 26% and the Nasdaq has soared by 31%.

The surge is thanks in large part to the massive stimulus program administered by the Fed, which has supported the economic recovery with monthly bond purchases.

With stock prices at such lofty levels, some investors say the market is becoming too expensive and the risk of a sell-off is increasing.

"When valuations start to get stretched, that's when we get nervous," said Wasif Latif, vice president of equity investments at USAA Investments. "This thing can go on for a while, but we're becoming more cautious."

The S&P 500 is now trading at 15 times earnings estimates for the next 12 months. That's up from a level of about 12 at the beginning of the year and is just above the market's long-term average.

Latif said he's focusing on dividend-paying stocks, which tend to outperform in a down market. Some of the top holdings in his firm's USAA Income Stock fund are General Electric (GE, Fortune 500), Microsoft (MSFT, Fortune 500), Johnson & Johnson (JNJ, Fortune 500) and Chevron (CVX, Fortune 500) .

Bernard Kavanagh, vice president of portfolio management at Stifel Nicolaus, said stocks are no longer cheap but he still thinks they are fairly valued. He still expects stocks to move higher in the short-run as investors move money off the sidelines.

"A lot of the people who had been anticipating a pullback are realizing that they've missed some significant gains, and they want to get into the market," he said.

Kavanagh said a drop of between 10% to 15% cannot be ruled out, but he dismissed claims the Fed is inflating a bubble in the stock market. Stock valuations would be much higher if the market were in a bubble, he added.

"I don't think the market tops until people get more greedy," he said.

Along those lines, CNNMoney's Fear and Greed Index, which it looks at seven indicators of market sentiment, is currently in Greed mode. But the index was showing signs of Extreme Greed just a week ago.

* Banks warned on high-interest loans

What's moving? Charter Communications (CHTR, Fortune 500) is said to be nearing an agreement with lenders on financing for a bid to buy Time Warner Cable (TWC, Fortune 500), sources told the Wall Street Journal. Shares of Time Warner Cable jumped on the report, as did Charter's.

Cablevision (CVC, Fortune 500) and Comcast (CCV) also rose as the report led to speculation that Comcast may also bid for Time Warner Cable, a move that could usher in a new wave of mergers in the industry.

However, one trader on StockTwits was skeptical any deal would be done.

"$CMCSA $TWC $CHTR never going to happen," said tivoboy.

Another suggested that consolidation in the cable business makes sense as more consumers watch TV and movies online.

"Media companies making play for media distribution companies to defend against industry disruption re: $AAPL $GOOG $AMZN...$TWC," said harmonicreasoning.

Shares of Biogen Idec (BIIB, Fortune 500) soared to an all-time high on reports the company's multiple sclerosis drug cleared a regulatory hurdle in Europe. One trader noted that other biotechs, such as Celgene (CELG, Fortune 500) and Gilead Sciences (GILD, Fortune 500), were also surging.

"Market is talking here and it's saying BUY BIG BIOTECH! $BIIB $GILD $CELG or just buy the $IBB etf's Bullish," noted AskLou.

* Video - Hunger Games stock is 'catching fire'

Shares of movie studio Lion's Gate Entertainment (LGF) were higher. Investors are betting on a huge opening at the box office for "Catching Fire" -- the second movie in "The Hunger Games" franchise -- this weekend.

"$LGF Analysts believe Fire has potential to eclipse 2012's The Hunger Games, which took in nearly $700M worldwide," said abubnic.

Microsoft (MSFT, Fortune 500) shares were up as the company's new Xbox One goes on sale. This is Microsoft's first new gaming console in eight years.

Foot Locker (FL, Fortune 500)shares rose to an all-time high after the retailer reported better-than-expected quarterly results.

European markets ended mixed. Most Asian markets closed the week on a positive note.

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Dow +54.78 at 16064.77, Nasdaq +22.49 at 3991.64, S&P +8.91 at 1804.76
[BRIEFING.COM] It wasn't the most thrilling ride on Friday, yet the stock market maintained its bullish bias and ended the week on a winning note. Both the Dow Jones Industrial Average and the S&P 500 registered new record highs. Additionally, the S&P 500 logged its seventh consecutive winning week.

There was a modicum of profit-taking interest early on after Intel (INTC 23.87, -1.36) issued a warning that its revenue in FY14 is expected to be flat, but it didn't take long at all for the broader market to regain its footing.

Participants just stayed with the trade that got them here, buying the dip and keeping sellers at bay. They also appeared to draw support from the reminder out of Atlanta Fed President Lockhart before the open that monetary policy is likely to be accommodative for many more years.

Strikingly, there wasn't a lot of conviction behind today's trading. Volume at the NYSE totaled just 607 mln shares, which was the lowest all week and well below recent averages. Even so, today's trading was notable more for the lack of selling interest than buying interest.

Following a 9.0% gain in the last three months, there simply wasn't any rush to take profits. The buying interest seen was fairly broad-based. Advancers outlegged decliners at the NYSE and Nasdaq by roughly a 3-to-2 margin and seven out of ten sectors ended the day higher.

The health care sector (+1.2%) led the way, fueled by a huge jump in Biogen-Idec (BIIB 285.58, +33.15), which surged 13% after EU regulators approved its treatment for multiple sclerosis. Buying efforts were more restrained elsewhere as the gains in other sectors ranged from 0.5-0.8%.

The only laggards today were the utilities (-0.04%), telecom services (-0.1%), and technology (-0.2%) sectors, but even their losses were fairly negligible.

Within the Dow, 23 of the 30 components finished higher. Boeing (BA 135.97, +3.04) had the biggest gain and also some outsized influence on the price-weighted average. Some of its gain was offset by IBM (IBM 181.24, 2.89), which famous money Stanley Druckenmiller said was a stock to sell short for the company's lack of innovation.

Despite the weakness in IBM and Intel, the Dow and the other major averages closed at, or very near, their best levels of the day.

The same can be said for longer-dated Treasury instruments. The benchmark 10-yr note added ten ticks, lowering its yield to 2.75%, while the 30-yr bond gained nearly a point and saw its yield come down to 3.84%.

If the market is concerned about the Fed tapering its asset purchases soon, it certainly didn't show it on Friday.

Read more: http://www.briefing.com/investor/market ... z2lQksAPhB

European stocks grind higher after German Ifo

LONDON (MarketWatch) — European stock markets closed higher on Friday as investors welcomed upbeat German business-confidence data, although fears of low inflation in the euro zone dented the optimism.

The Stoxx Europe 600 index (STX:XX:SXXP) climbed 0.1% to end at 322.77, although the rise was not enough to bring it into positive territory for the week. It closed with a 0.1% weekly loss.

The muted weekly move came on the back of some days with mixed signals about the euro zone’s recovery, focus on what’s next for the European Central Bank and concerns that the U.S. Federal Reserve may taper its asset purchases as soon as December.

“I think there’s still a healthy amount of fear and skepticism [in the equity market] and especially in relation to Europe, where valuations are still attractive” said James Hunt, portfolio manager at the Tocqueville International Value Fund.

“Six months ago, Europe was clearly out of favor and there were still concerns about the macro economic situation and valuations were downright cheap. It has gone from being out of consensus trade to be much more in the consensus view,” he added.

Among notable movers, Whitbread PLC (LSS:UK:WTB) gained 3% after J.P. Morgan Cazenove lifted the coffee shop and restaurant operator to overweight from neutral on the back of “recent strong U.K. macro trends.”

Shares of Suedzucker AG (FRA:DE:SZU) lost 7.9% after HSBC cut the sugar producer to neutral from overweight. On Thursday, the firm, tumbled 9.2% after cutting its fiscal-year earnings outlook as sugar production has turned out weaker than expected.
German data

More broadly, investors digested the latest round of data out of Germany. The Ifo business-climate index rose to 109.3 in November, beating expectations of a 107.8 reading and rising from the 107.4 seen in October. The current-situations and expectations indexes also climbed.

Earlier in the morning, data confirmed growth in Europe’s largest economy slowed to 0.3% in the third quarter from 0.7% in the prior three-month period.

“Looking ahead we expect German activity to pick up, and the Ifo index suggests there is an upside risk to our forecast,” said Pernille Bomholdt Nielsen, analyst at Danske Bank, in a note.

“Hence German growth should be stronger even though inflation is on a downward trend and is expected to decline further,” she added. “Since January 2013 German inflation has been below the ECB’s target. However, core inflation has moved sideways and the downward movement is due to lower energy inflation.”

Inflation, or the lack of it, was also in the spotlight in the rest of Europe. The European Central Bank’s chief economist Peter Praet warned at a conference in Paris that the euro zone is facing deflationary pressures, according to media reports. He said that while low inflation can push a central bank very quickly into unconventional measures, such measures can be difficult to implement.

The comments came as reports earlier in the week outlined that the central bank was considering easing monetary policy to fight low inflation, potentially through quantitative easing or by sinking deposit rates into negative territory. Inflation for the region in October showed consumer prices only climbed 0.7%, far below the 2% ECB target and marking the lowest level in almost four years.

On Friday next week, the preliminary inflation data for November are out, expected to inch higher to 0.8%.

“Major European policy makers seem extremely keen to highlight the need to cut rates to near zero to head off deflation risks and stabilize debt burdens, especially in the face of harsh German criticism of the policy. Investors know that this is consequential of weaker than expected PMI surveys for the euro zone, showing that the recovery remains extremely slow,” said Max Cohen, financial sales trader at Spreadex, said.

“Not to say that medium-term sentiment won’t improve on the back of this, I just feel that the realization that the euro zone’s recovery is not as substantial as some were beginning to feel it was has been met with trepidation,” he added.
Movers

Germany’s DAX 30 index (ITF:DX:DAX) rose 0.3% to 9,219.04, ending the week up 0.6%.

France’s CAC 40 index (ENX:FR:PX1) added 0.6% to 4,278.53, trimming its weekly loss to 0.3%, while the U.K.’s FTSE 100 index (FTI:UK:UKX) ended 0.1% lower at 6,674.30. The London benchmark also lost 0.3% on the week.

William Hill PLC (LSS:UK:WMH) climbed 0.8% in London after Barclays lifted the betting firm to overweight. Analysts said the recent weakness in share prices “represents an excellent opportunity”.

In France, shares of Pernod Ricard SA (EPA:FR:RI) added 1.6% after Société Générale lifted the drinks maker to buy from hold, according to Dow Jones Newswires.

Outside the main index in Paris, shares of Eurazeo SA (EPA:FR:RF) lost 4.6% after Crédit Agricole sold part of its stake in the French investment fund.

Shares of A.P. Moller-Maersk AS (CPH:DK:MAERSKB) gave up 2.4% after the shipping and oil firm said it is being investigated for violating EU antitrust rules.

Special thanks to Bloomberg, CNNMoney, Reuters 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 Image@ http://stocktwits.com/wrbtrader

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