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 Post subject: February 13th Friday 2009
PostPosted: Fri Feb 13, 2009 9:59 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name NihabaAshi are archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=20&t=108

My Trading Performance: +34.50 Emini ES points

Regards,
M.A. Perry

-------------------



4:20 pm : The major indices traded sideways in choppy action for the entire session. Share volume was light as traders turned apathetic ahead of the long weekend.

Without any official governmental data and a dearth of corporate headlines, market participants found little reason to jump in or out of stocks. That meant for a quiet session.

Though the mood was subdued and stocks finished the session flat, many view the session positively since stocks held steady in the wake of the prior session's rally. That rally was spurred by word the Obama administration has a plan to help stem foreclosures; Dow Jones announced today that the plan will be unveiled Wednesday.

Still, it is recognized that the plan won't provide an immediate cure for the broader financial system. That put financial stocks back under pressure. The sector finished the session 4.2% lower, and 10.2% lower for the week. Banks remain some of the weakest performing industries in the sector.

Every major sector in the S&P 500 closed the session lower. They were all down for the week, too.

Earnings announcements were light this morning and had little impact on the overall market. PepsiCo's (PEP 52.52, +0.52) posted in-line earnings, while Abercrombie & Fitch (ANF 22.78, +2.08) topped the consensus estimates.

Investors also remain largely unimpressed by the revised $787 billion economic stimulus plan, which was approved the House of Representatives today. It now goes to the Senate for vote.

Trading volume was below recent averages, totaling just 1.2 billion shares on the NYSE. Volume actually picked up in the final minutes of trading, which coincided with a late selling effort that took stocks close to their session lows. Still, the overall lack of trading volume suggests many traders were sitting on the sidelines and will be analyzing market sentiment over the long weekend -- U.S. markets are closed Monday in observance of Presidents Day.

Despite a lack of conviction in the broader market, crude oil futures garnered considerable interest. Crude was able to break its losing streak by surging more than 10% to $37.45 per barrel. Losses earlier in the week left crude prices 5.6% lower for the week, though.DJ30 -82.35 NASDAQ -7.35 NQ100 -0.5% R2K -0.5% SP400 -0.8% SP500 -8.35 NASDAQ Adv/Vol/Dec 1254/2.01 bln/1411 NYSE Adv/Vol/Dec 1160/1.24 bln/1854

3:30 pm : Crude oil performed well for the session after it finished the last three sessions lower. Crude oil finished up 10.2% to close at $37.45 per barrel, but was still down 5.63% for the week.

Natural gas closed slightly lower for the session, down 1.2% to $4.44 per contract.

Gold also retraced a portion of the moves from earlier in the week. Gold sold off modestly to finish the session at $942.20 per ounce, down 0.7%. Despite the downward move for the session, gold was able to finish up almost 3.0% for the week.

Silver climbed higher throughout most of the session. Silver finished up more than 4.0% for the week after closing the session with a 1.0% gain at $13.63 per ounce.DJ30 -58.94 NASDAQ -4.58 SP500 -5.22 NASDAQ Adv/Vol/Dec 1238/1.69 bln/1421 NYSE Adv/Vol/Dec 1260/876 mln/1762

3:00 pm : Stocks are facing a week-to-date loss of 4.0% as market participants head into the final hour of trading. The tone this session has been rather subdued since the opening bell.

Action is mixed this session. Energy (+0.8%), technology (+0.5%), industrials (+0.4%), telecom (+0.4%), and utilities (+0.1%) are all trading with gains. Financials (-2.7%), consumer discretionary stocks (-1.0%), consumer staples (-0.8%), materials (-0.8%), and health care (-0.6%) are all in the red.DJ30 -34.96 NASDAQ +0.34 SP500 -3.05 NASDAQ Adv/Vol/Dec 1283/1.54 bln/1356 NYSE Adv/Vol/Dec 1303/795 mln/1692

2:30 pm : The House of Representatives approved the $787 billion fiscal stimulus plan, which sets up the Senate vote, Reuters reported. Meanwhile, Dow Jones said that President Obama will outline the foreclosure relief plan Wednesday.

The major indices are currently trading with slight losses.DJ30 -40.46 NASDAQ -1.05 SP500 -3.71 NASDAQ Adv/Vol/Dec 1316/1.51 bln/1278 NYSE Adv/Vol/Dec 1357/721 mln/1619

2:00 pm : According to Dow Jones, President Obama will outline his plan to stem foreclosures Wednesday. News of the plan was leaked Thursday and helped fuel a late rally in the major indices.

Stocks are now back on the upswing. They had been down more than 1% when trading at session lows.

The financial sector continues to lag the broader market, however. Financial stocks are now down 1.8% after being down as much as 4%.DJ30 -6.05 NASDAQ +4.92 SP500 +0.05 NASDAQ Adv/Vol/Dec 1371/1.28 bln/1206 NYSE Adv/Vol/Dec 1438/638 mln/1517

1:30 pm : Stocks are on the upswing after falling to fresh session lows. Losses remain relatively broad-based, though.

Oil continues to build on its early gains. Crude oil futures are now up 11% to $37.75 per barrel. The move comes after crude registered a multimonth low in the prior session.

The spike in oil prices is helping give energy stocks a 0.6% gain. Still, crude prices are down more than 5% week-to-date, while energy stocks are down almost 6% for the week.DJ30 -50.17 NASDAQ -1.60 SP500 -4.01 NASDAQ Adv/Vol/Dec 1230/1.18 bln/1331 NYSE Adv/Vol/Dec 1246/573 mln/1704

1:00 pm : Stocks have slipped to session lows, but the overall direction this session has been sideways. Action has been quiet and listless.

Though the tone has been subdued, market analysts are rather encouraged by the stock market's ability to hold steady after rallying in the prior session from a 3% loss to a modest gain.

That rally brought stocks above key technical levels, but analysts continue to question whether there was real substance in the move, which was induced by some late news headlines and intensified by some short covering. Market participants are now looking for signs that sentiment in the broader market is settling for a time. Still, the assessment could be distorted by the lack of share volume this session, which is expected to remain low as traders prepare for a long weekend (U.S. markets are closed Monday).

Though trading has been quiet, a constant eye remains on financials. The sector is down 3.5% as investors await more specific solutions to the troubles of the financial system and the housing industry.

The latest earnings results from PepsiCo (PEP 52.65, +0.65) are having little influence on the broader market this session. PepsiCo performed in-line with expectations.

Abercrombie & Fitch (ANF 22.53, +1.83) posted better-than-expected earnings results. Its shares are trading with healthy gains, though other retailers are trading with weakness. The retailers index is down 1.7% this session. DJ30 -85.06 NASDAQ -10.85 SP500 -9.17 NASDAQ Adv/Vol/Dec 1128/1.08 bln/1435 NYSE Adv/Vol/Dec 1029/512 mln/1884

12:30 pm : A lack of leadership has the major indices trading with losses. Action has been rather slow this session, and is expected to remain so as market participants head into a long weekend (U.S. markets are closed Monday in observance of Presidents Day).

There are a few gainers this session. Tech is up 0.4%, while telecom is up 0.3%. Energy and industrials are both up 0.2%.

Industrial stocks are receiving leadership from Texas Instruments (TXN 17.20, +0.81), which had its shares upgraded by analysts at UBS. Meanwhile, General Electric (GE 11.47, -0.21) is a laggard in the industrials sector.DJ30 -49.54 NASDAQ -0.24 SP500 -3.91 NASDAQ Adv/Vol/Dec 1304/984 mln/1235 NYSE Adv/Vol/Dec 1297/464 mln/1603

12:00 pm : The Dow and S&P 500 have both fallen to fresh session lows. JPMorgan Chase (JPM 24.87, -1.32) is a laggard in both indices.

Shares of JPM are also weighing on the financial sector, which is down 3.5% to its lowest point of the session.

Financial stocks have been at the center of the broader market's concerns for weeks. Uncertainty surrounding the fate of the financial sector has pushed financial stocks down 9.3% this week. Year-to-date, financial stocks are down almost 30%. Banks have been central to these losses; the BKX Bank Index is down more than 13% this week, and down roughly 40% year-to-date.DJ30 -59.97 NASDAQ -4.64 SP500 -6.53 NASDAQ Adv/Vol/Dec 1216/883 mln/1300 NYSE Adv/Vol/Dec 1198/408 mln/1690

11:30 am : Stocks have slipped back into the red, but remain off their session lows. There is little data out today. That has made it difficult for market participants to find direction this session, fueling the question of whether the prior session's rebound was a legitimately sustainable rally. Should stocks finish the session flat, some market analysts are likely to regard this session with optimism since participants wouldn't have dumped stocks in droves.

Despite the broader market's move lower, small-cap stocks are showing relative strength. The Russell 2000 is currently up 0.4%. DJ30 -37.91 NASDAQ -0.72 SP500 -3.31 NASDAQ Adv/Vol/Dec 1340/746 mln/1065 NYSE Adv/Vol/Dec 1356/343 mln/1477

11:00 am : The Nasdaq is currently outperforming its counterparts. Microsoft (MSFT 19.42, +0.16) is a primary leader in the index. However, the tech giant is also providing support to the Dow and S&P 500.

Reports indicate Microsoft is looking to open several retail stores, which will place the company in closer competition with Apple (AAPL 99.49, +0.22).DJ30 +18.88 NASDAQ +9.35 SP500 +2.22 NASDAQ Adv/Vol/Dec 1508/587 mln/816 NYSE Adv/Vol/Dec 1648/282 mln/1148

10:30 am : The major indices have poked into positive territory. Whether stocks can hold the gain remains the primary concern.

Oil appears to be staging a convincing rally. Crude oil futures are currently up almost 5% to $35.65 per barrel. In two separate sessions earlier this week, crude had traded with gains in excess of 5%, but finished those session's lower.

The gain in crude prices is helping energy stocks advance 0.6%. Primary leaders in the sector include oil and gas equipment companies Hess (HESS 58.48, +2.12) and Schlumberger (SLB 42.73, +0.97). Nabors Industries (NBR 11.35, +0.34) is also trading with strength after the company reaffirmed in-line guidance.DJ30 +14.42 NASDAQ +4.60 SP500 +2.07 NASDAQ Adv/Vol/Dec 1346/432 mln/903 NYSE Adv/Vol/Dec 1536/218 mln/1182

10:00 am : Stocks are trying to pare their losses, but continue to trade in the red. Commodities, meanwhile, are trading in mixed fashion.

Crude oil is attempting to break its losing streak as it advances 2.7% to $34.90 per barrel. Crude oil futures are showing a week-to-date loss of almost 14%, which gives it a month-to-date loss of nearly 17%.

Meanwhile, natural gas is down 1.5% to $4.42 per contract.

Gold is under pressure after climbing during the prior session to a six-month high of almost $953 per ounce. Gold is currently trading at $935.00 per ounce, down 1.4% from the prior session's close.

Silver is also under pressure in the early going. Silver was last quoted at $13.33 per ounce, down 1.3%.

Early movers: Trading up: BBND +23.4%, CSTR +19.1%, BJRI +15.6%, CVO +11.1%, ISSC +11.0%, USTR +12.9%, MFE +9.4%. Trading down: LYG -29.4%, SVNT -25.6%, KNOT -18.1%, GERN -17.6%, WYN -17.3%, AIB -15.6%, EGLE -15.4%, COG -12.5%, XNPT -11.2%, CAKE -10.4%DJ30 -20.86 NASDAQ -1.81 SP500 -2.17 NASDAQ Adv/Vol/Dec 1127/246 mln/971 NYSE Adv/Vol/Dec 1245/124 mln/1395

09:40 am : The major indices have opened the session with moderate losses. Financial stocks remain in focus as the sector drops 2.9%, more than any other sector in the S&P 500.

Weakness in the financial sector stems from diversified banks (-5.1%), diversified financial services companies (-3.7%), and regional banks (-3.0%). The trio of industries has regularly been among the weaker groups in the financial sector this week.

Early gains are being registered by utilities (+0.3%), energy (+0.2%), and telecom (+0.1%).DJ30 -38.07 NASDAQ -5.75 SP500 -5.12 NASDAQ Adv/Vol/Dec 912/110 mln/989 NYSE Adv/Vol/Dec 1036/65 mln/1497

09:20 am : S&P futures vs fair value: -3.60. Nasdaq futures vs fair value: -4.80. Stocks will be under close scrutiny this session as market participants guage whether the major indices can extend the prior session's rally. Though the rally brought stocks above key technical levels, analysts question whether the bounce was more hollow than substantive since a headline that was already largely expected induced short sellers to cover their positions. This session's direction, then, should be more telling of broader sentiment as participants prepare for a long weekend (U.S. markets are closed Monday). There is little in the way of market-moving data this morning, leaving investors to await passage of the $789.5 billion stimulus bill and details of a plan to fix the financial and housing sectors. Stock futures currently point to a downward start.

09:05 am : S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -4.50. Stock futures continue to pull back and now suggest a lower start for the session. The S&P 500 is heading into the session with a week-to-date loss of 3.9%. The weekly downturn could have been substantially worse, but a late rebound in the prior session helped trim losses for the week. Last week, stocks were able to log their first weekly gain in one month. The major indices will have to put together a meaningful rally this session in order to extend that feat to a second week.

08:35 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +1.50. U.S. stock futures have pulled back a bit from earlier levels as participants gauge whether stocks will be able to extend the prior session's rally. Nonetheless, the prior session's advance has helped fuel gains in overseas markets. Germany's DAX is up 1.4% amid strength in engineering giant Siemens (SI), Daimler (DAI), and Deutsche Bank (DB). Volkswagen and Commerzbank are trading as laggards. Gains are broad-based in France's CAC, which is up 2.3%. Energy giant Total (TOT) is the session's primary leader, followed by Sanofi Aventis (SAN). TOT is up 2.4%, while SAN is up 2.0%. Britain's FTSE is trading with a solid 1.1% gain. Energy outfits Royal Dutch Shell (RDS.A) and BP PLC (BP) are providing key support. The gains throughout Europe come in the face of word from The Wall Street Journal that during the fourth quarter the Eurozone economy made its sharpest contraction since records began in 1995. Asian stocks traded with strength Friday. Japan's Nikkei logged a 1.0% gain, which snapped a three day losing streak. Primary leaders during the session were Secom, KDDI, and TDK. Toyota (TM) had a flat session. According to The Wall Street Journal, the company is offering job buyouts and is ending bonuses as it contends with slower global sales. Pioneer tumbled after it said it would cut 10,000 jobs, and exit its TV business. Hong Kong's Hang Seng climbed 2.5% as advancing issues outnumber decliners by 5-to-1. Financial shares were among the strongest performers as HSBC (HSB), China Life, and Industrial and Commercial Bank of China provided leadership. The MSCI Asia-Pacific Index closed 0.9% higher. In mainland China, the Shanghai Composite closed 3.2% for the better, reaching a five-month closing high. Trading volume was heavy.

08:00 am : S&P futures vs fair value: +3.10. Nasdaq futures vs fair value: +5.50. Stock futures currently point to a a modestly higher start, which would come as an extension of the prior session's rally. The direction of this session's trade should be telling of broader sentiment. In recent sessions stocks have been unable to sustain advances, instead falling amid ongoing concern related to the lack of solutions for the financial system. However, word that help may be coming for troubled mortgages, which have been at the root of the financial systems troubles, spurred a rebound in stocks Thursday. Rallying back above key technical levels added conviction to the move. There is little in the way of market-moving data this morning, which leaves market particpants to ruminate on the prior session's developments. Enbridge (ENB) posted fourth quarter earnings of $0.55 per share, which is $0.07 better than expected. Enbridge issued upside guidance; it expects full-year earnings to range from $2.18 to $2.32 per share, which exceeds the consensus full-year forecast of $1.97 per share. Shares of ENB are trading 1.8% higher at $34.10 per share in premarket action. Abercrombie & Fitch (ANF) earned an adjusted $1.10 per share during the latest quarter. The resutls were $0.10 more than the $1.00 per share that was expected. The company is not providing guidance for fiscal 2009. ANF was recently quoted at 6.3% higher at $22.00 per share in premarket trading. PepsiCo (PEP) earned an adjusted $0.88 per share for the fourth quarter. That matched analysts' expectations. PepsiCo expects full-year earnings to grow at a rate ranging from mid to high single digits. Shares of PEP were recently trading 1.0% higher at $52.50 per share in premarket trading.

06:28 am : S&P futures vs fair value: +2.70. Nasdaq futures vs fair value: +8.50.

06:28 am : Nikkei...7779.40...+74.00...+1.00%. Hang Seng...13554.67...+326.40...+2.50%.

06:28 am : FTSE...4257.91...+55.70...+1.30%. DAX...4471.76...+64.20...+1.30%.


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