TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 7:55 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 27th Monday 2009
PostPosted: Mon Apr 27, 2009 4:35 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Attachment:
042709NihabaAshiPnLBlotterProfit.png
042709NihabaAshiPnLBlotterProfit.png [ 32.57 KiB | Viewed 1581 times ]


Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name NihabaAshi. You can review each trade from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=20&t=173

My Trading Performance: +13.25 Emini ES points

"Not a difficult trading day but I did make two key trade errors...got lucky on one in that it resulted in a profit while the other one punish me appropriately with a big loss. Today I mainly used the VTR strategies for entries. In contrast, today I used the APAOR and AJCTR to setup the VTR entries. As usual, the WRB Analysis kepted me out of some problematic trading areas along with warning me about one bad trade I took...I exited that losing trade early to minimize it's loss."

http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradingReports.htm

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

Stocks Slip On Flu, Bank Concerns
Investors worry about the potential economic impact of swine flu, bank 'stress tests' and quarterly results.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: April 27, 2009: 4:11 PM ET

NEW YORK (CNNMoney.com) -- Stocks slipped Monday as fears about the impact of swine flu and jitters about the next batch of quarterly results gave investors a reason to retreat after a big rally.

Any selling was limited by relief that General Motors might be able to avoid bankruptcy.

The Dow Jones industrial average (INDU) fell 51 points, or 0.6%, according to early tallies. The S&P 500 (SPX) index lost 9 points, or 1%. The Nasdaq composite (COMP) gave up 15 points, or 0.9%.

The Dow Jones Transportation (DJT) average, which includes airlines, fell 4.7%.

Stocks slumped in the first half-hour of trade, turned higher near midday and then slipped again in the afternoon.

Should the disease develop into an epidemic, world economies would be hurt at a time when a global recession is already exerting a crippling impact. Such fears were dragging on stocks.

However, the market was also vulnerable to a pullback anyway, with the recent rally losing steam in a busy week for quarterly results and economic news, and ahead of the results of Treasury's "stress tests" for the largest U.S. banks.

"Airline and hotel stocks are getting hit today and that's appropriate if the swine flu has a big impact on travel," said Brian Battle, vice president at Performance Trust Capital Partners. "But I think we're more concerned that it's the middle of the earnings reporting period and major companies are due out this week."

In addition, there are jitters ahead of the release of the stress tests next Monday. "We need to know who cleared and who didn't, and for those who didn't, what's the federal government going to do about it?"

All three major gauges gained for 6 straight weeks, adding between 25% and 30% on bets that the worst for the economy and corporate profits has already happened. But investors showed some hesitation last week and only the Nasdaq managed to end higher for the seventh week in a row.

"I think this has been a bear market rally and we're likely to see a bigger pull back," said Tyler Vernon, chief investment officer at Biltmore Capital.

"Swine flu will probably have a short-term impact," he said. "But I think it's going to the first shoe to fall in a series of shoes over the next month."

Swine flu: Declared a public health emergency by the World Health Organization, swine flu dragged on markets globally, particularly in Europe.

In the United States, the federal government declared a public health emergency and President Obama called the outbreak a "cause for concern" but not a "cause for alarm."

As many as 103 deaths in Mexico are believed to have been caused by the disease. At least 40 cases have been diagnosed in the United States.

The European Union health commissioner advised Europeans to avoid non-essential travel to both Mexico and the United States. However, the acting director of the Centers for Disease Control and Prevention said such an advisory was unwarranted.

Automakers: On Sunday, Chrysler said it won some key concessions from its union, a critical step as it races against the clock to avoid filing for bankruptcy protection. Chrysler has until Thursday to hammer out a deal with its creditors and Italian automaker Fiat. Chrysler is privately held.

General Motors (GM, Fortune 500) - which has until June 1 to cut debt and avoid bankruptcy - announced a broad restructuring plan Monday. GM will cut 23,000 jobs by 2011, including those already announced in its recent viability plan. The company will also eliminate its Pontiac brand and cut 40% of its dealer network. GM shares rallied 19%.

Quarterly results: Dow component Verizon Communications (VZ, Fortune 500) reported earnings of 63 cents per share, up from 61 cents a year ago. Analysts surveyed by Briefing.com thought income would fall to 59 cents per share. The telecom benefited from its purchase of rival telecom Alltel and growth in customers.

Among other movers, big bank shares slumped, dragging down the KBW Bank (BKX) sector index by 4.9%.

A variety of airlines plunged, lowering the Amex Airline index by 10%.

Market breadth was positive. On the New York Stock Exchange, winners beat losers seven to three on volume of 1 billion shares. On the Nasdaq, advancers topped decliners two to one on 1.81 billion shares.

Bonds: Treasury prices rose, lowering the yield on the benchmark 10-year note to 2.94% from 2.99% Friday. Treasury prices and yields move in opposite directions.

Lending rates were mixed. The 3-month Libor rate fell to 1.05% from 1.07% Friday, according to Bloomberg.com. The overnight Libor rate rose to 0.21% from 0.2%. Libor is a bank-to-bank lending rate.

Other markets: In global trading, Asian markets ended mostly lower and European markets ended mixed.

In currency trading, the dollar gained versus the euro and fell against the yen.

U.S. light crude oil for June delivery fell $1.41 to settle at $50.14 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery fell $5.90 to settle at $908.20 an ounce.

Yahoo! Finance

4:30 pm : Stocks finished the session with sizable losses after failing to sustain a midsession rally. Broad-based weakness underscored the downturn, but health care stocks attracted support amid fear of a swine flu pandemic.

The media's focus on the implications of swine flu induced interest in pharmaceutical stocks (+0.6%) and biotech stocks (+2.0%). That helped Bristol-Myers Squibb (BMY 20.54, +0.44) and Pfizer (PFE 13.49, +0.32) provide leadership to the health care sector (+0.9%). The companies also benefited from interest ahead of their quarterly announcements, which are scheduled for tomorrow morning.

Despite leadership from big pharma and biotech stocks, the S&P 500 underperformed the other headline indices.

Meanwhile, General Motors (GM 2.04, +0.35) provided the Dow with leadership after the struggling automaker announced plans to restructure its operations in order to avoid the pitfalls of bankruptcy. GM finished the session more than 20% higher, which is its best single-session advance by percent in more than one month.

Fellow Dow component Verizon (VZ 30.54, -0.46) failed to give the blue chip index a lift, even though it topped analysts' earnings expectations by earning an adjusted $0.63 per share for the first quarter.

Financial stocks had a poor showing Monday. The sector finished 3.2% lower as bank stocks slid. All 24 members of the KBW Banking Index fell with Wells Fargo (WFC 20.30, -1.10) leading the index's 4.9% decline. Shares of WFC were downgraded by star banking analyst Dick Bove.

There were a few glimmers of strength in the sector, though. Property and casualty insurers (+0.4%) and insurance brokers (+0.6%) both gained after Humana (HUM 29.25, +1.89) posted better-than-expected earnings and an upbeat outlook.

Technology, which is the largest sector in the S&P 500 by market weight, generally traded in-line with the broader market. Qualcomm (QCOM 43.17, +1.81) provided the most support to the sector. The company announced it has entered into a settlement and multiyear patent agreement with Broadcom (BRCM 24.38, +0.16), which will result in the dismissal with prejudice of all litigation between the companies. Charges associated with settlements resulted in a loss at Qualcomm, but that was excused when the company issued an upbeat revenue forecast.DJ30 -51.29 NASDAQ -14.88 NQ100 -0.2% R2K -1.9% SP400 -1.2% SP500 -8.72 NASDAQ Adv/Vol/Dec 902/2.20 bln/1794 NYSE Adv/Vol/Dec 975/1.40 bln/2071

3:30 pm : Commodities have been priced lower throughout today's session; the CRB Commodity Index is currently down 2.1%.

June crude oil traded at session lows of $48.01 per barrel in the morning, down 6.9%. The futures contracts then broke the $51 level, only to give back those gains. The contracts closed the session at $50.07 per barrel, down 2.9% for the session.

July natural gas contracts traded as low as $3.41 per contract in the morning trade. The futures contracts were able to close near their session highs, however, down 1.2% at $3.25 per contract.

Session lows in June gold futures contracts were hit in the early morning. The contracts traded in the red for nearly the entire session. They closed down just 0.6% at $908.20 per ounce.

July silver contracts were able to more or less close unchanged at $12.99. The contracts opened near highs and trended down throughout the session.DJ30 -56.63 NASDAQ -13.95 SP500 -9.14 NASDAQ Adv/Vol/Dec 921/1.81 bln/1787 NYSE Adv/Vol/Dec 921/1.00 bln/2093

3:00 pm : Stocks have managed to pull up from their session lows, but seven of the 10 major sectors in the S&P 500 are still in negative territory.

Losses range from telecom's 0.4% decline to the 2.2% decline seen by materials stocks. Gains range from the consumer staples sector's 0.1% advance to the 0.9% advance seen by health care.DJ30 -43.17 NASDAQ -12.87 SP500 -7.55 NASDAQ Adv/Vol/Dec 898/1.65 bln/1788 NYSE Adv/Vol/Dec 948/894 mln/2056

2:35 pm : After falling to a session low just beneath the 855 level, the S&P 500 is now chopping along sideways.

While weakness is widespread, select industries are grappling with outsized losses. In particular, airlines are showing considerable declines as the Amex Airline Index drops 10.6%.

Airline stocks quickly fell out of favor amid discouragement from traveling or flying as public health officials aim to control swine flu outbreaks. DJ30 -46.91 NASDAQ -12.90 SP500 -8.66 NASDAQ Adv/Vol/Dec 880/1.54 bln/1806 NYSE Adv/Vol/Dec 918/839 mln/2086

2:00 pm : The S&P 500 has fallen to a new session low. The decline has been broad-based, but health care stocks and utilities stocks are still in the green; health care and utilities are both up 0.9%.

The downturn in equities has rekindled buying in Treasuries. The 10-year Note is currently up 16 ticks, which pushes its yield to 2.93%. The 10-year Note had actually been up by a similar degree in the early going, but it surrendered those initial gains when stocks pushed to higher ground.DJ30 -74.71 NASDAQ -16.03 SP500 -10.24 NASDAQ Adv/Vol/Dec 862/1.41 bln/1796 NYSE Adv/Vol/Dec 865/755 mln/2119

1:30 pm : The major indices have fallen to fresh afternoon lows, but remain off their worst levels of the session.

Sellers are focusing their efforts on the financial sector and materials sector. Both are down 2.4%.

Within the financial sector, regional banks (-5.3%), consumer finance companies (-7.1%), and diversified banks (-4.9%) are seeing some of the most selling pressure.

As for materials stocks, chemicals (-4.5%), steel (-4.1%), and aluminum (-4.1%) are being bogged down.DJ30 -58.78 NASDAQ -11.91 SP500 -7.94 NASDAQ Adv/Vol/Dec 880/1.28 bln/1767 NYSE Adv/Vol/Dec 919/689 mln/2037

1:00 pm : Stocks were down more than 1% in the first few minutes of trading and managed to work their way into positive territory, but are now encountering another bout of selling pressure.

The major indices are back on the slide, but health care continues to sport an enviable gain as fears surrounding an outbreak of swine flu have elevated interest in pharmaceutical stocks (+1.2%) and biotech stocks (+2.3%).

Meanwhile, better-than-expected earnings and an upbeat outlook from insurer Humana (HUM 29.14, +1.78) are failing to provide support to the overall financial sector. Sellers seem to be focusing their latest effort on both financial stocks and materials stocks, which are both down 2.0%. The push against the two sectors comes as participants opt to take profits after watching the two sectors lead gains in recent weeks.

Tech stocks (-0.3%) are getting some support from Qualcomm (QCOM 43.62, +2.26), which generated a second quarter pro-forma loss of $0.03 per share, including a litigation settlement charge. Qualcomm announced it has entered into a settlement and multiyear patent agreement with Broadcom (BRCM 24.44, +0.22), which will result in the dismissal with prejudice of all litigation between the companies.

In other corporate news, Dow components Verizon (VZ 30.58, -0.42) posted better-than-expected first quarter earnings, while General Motors (GM 2.07, +0.38) announced plans to restructure its operations. General Motors plans to exchange GM notes for GM common stock, which would dilute existing shareholders. Still, the plan is expected to help GM continue operating without the negative impact of bankruptcy.DJ30 -17.20 NASDAQ -5.46 SP500 -3.86 NASDAQ Adv/Vol/Dec 1006/1.17 bln/1615 NYSE Adv/Vol/Dec 1040/627 mln/1904

12:30 pm : Stocks continue to trade in mixed fashion as the major indices trade sideways along the unchanged mark. Decliners have a slight edge over advancing issues in the S&P 500, though.

FDIC Chairman Bair is currently giving a speech about the financial crisis and the economy at the Economic Club of New York. She stated that now is the clean up period after the liquidity crisis.DJ30 +7.57 NASDAQ +0.81 SP500 -0.94 NASDAQ Adv/Vol/Dec 1124/1.07 bln/1480 NYSE Adv/Vol/Dec 1168/571 mln/1760

12:00 pm : The stock market continues to show a modest gain. Action has been rather quiet heading into midday trading.

European markets were able to pare losses before closing. Germany's DAX, Britain's FTSE, and France's CAC had all been down by more than 1% earlier, but the DAX and FTSE were able to close with respective gains of 0.4% and 0.3%, while the CAC finished at the unchanged mark.

Asian markets had a mixed session with Hong Kong's Hang Seng dropping 2.7% and Japan's Nikkei advancing 0.2%.

The Dow Jones World Index is currently down 0.2%. Excluding the U.S., the Dow Jones World Index is off by 0.4%.DJ30 +33.13 NASDAQ +2.94 SP500 +1.09 NASDAQ Adv/Vol/Dec 1133/960 mln/1450 NYSE Adv/Vol/Dec 1228/515 mln/1664

11:30 am : While the broader market is chopping along, shares of General Motors (GM 2.15, +0.46) are soaring after the company announced plans to restructure its operations.

Part of the plan includes an offer to shareholders that would exchange GM notes for GM common stock. The solicitation is aimed at allowing GM to restructure out of bankruptcy court. GM has proposed to issue 225 shares of GM common stock for each $1,000 principal amount of GM notes owned by investors. GM has pledged to pay to noteholders cash for all accrued unpaid interest to the settlement date of the exchange offers.

GM indicated that it believes that the successful consummation of the exchange offers would enable it to continue operating its business without the negative impact that a bankruptcy could have on relationships with customers, employees, suppliers, and dealers, which GM believes could potentially hurt revenue. GM also believes its plan will allow it to restructure in less time and with less risk than any bankruptcy alternative.DJ30 +21.74 NASDAQ +2.97 SP500 +0.20 NASDAQ Adv/Vol/Dec 1059/857 mln/1498 NYSE Adv/Vol/Dec 1164/457 mln/1702

11:00 am : All three major indices have made their way into positive territory. The Nasdaq 100 and the S&P 400 are also in the green.

Gains are now being sported by the health care sector (+1.3%), utilities sector (+0.9%), consumer staples sector (+0.9%), technology sector (+0.5%), telecom (+0.1%), and the industrials sector (+0.1%).

Energy stocks (-1.3%) and materials stocks (-0.9%) remain notable laggards. Materials stocks were actually the best performing sector this past Friday as investors pursued stocks with early economic cycle potential.DJ30 +36.64 NASDAQ +2.95 SP500 +0.96 NASDAQ Adv/Vol/Dec 1054/707 mln/1478 NYSE Adv/Vol/Dec 1124/382 mln/1687

10:30 am : Energy stocks (-1.8%) remain under considerable pressure as crude oil prices and natural gas prices continue to trade with weakness. Crude oil futures are currently down 4.4% to $49.30 per barrel. Natural gas contracts prices are down 1.8% to $3.32 each.

Precious metals are seeing mixed interest, however, as gold prices slip and silver prices rise. Gold futures contracts are currently pricing the yellow metal 0.7% lower at $907.20 per ounce. Silver is being priced 0.5% higher at $13.01 per ounce.

Due to the broad-based weakness among commodities, the CRB Commodity Index is currently down 1.4%.DJ30 -14.89 NASDAQ -4.46 SP500 -3.78 NASDAQ Adv/Vol/Dec 866/558 mln/1613 NYSE Adv/Vol/Dec 851/300 mln/1955

10:00 am : The major indices are turning upward as stocks pare their losses. Though the upward move has been broad-based, most stocks are still stuck in negative territory.

Losses are the steepest among energy stocks. The energy sector is currently down 2.1%, partly due to a 5.3% decline in crude oil futures prices. Crude oil is currently trading at $48.80 per barrel.

Not one of the 39 energy companies listed in the S&P 500 is trading with a gain. Exxon Mobil (XOM 65.84, -0.73) is a primary laggard among energy stocks. BJ Services (BJS 13.81, -0.70) is also under stiff pressure; its shares were downgraded by analysts at Wachovia.DJ30 -39.51 NASDAQ -10.50 SP500 -4.68 NASDAQ Adv/Vol/Dec 785/344 mln/1612 NYSE Adv/Vol/Dec 701/197 mln/2008

09:45 am : Stocks have started the session in negative territory. Losses are broad-based as eight of the 10 major sectors in the S&P 500 currently trade in the red.

Only health care stocks (+1.1%) and utilities stocks (+0.9%) are in the green this morning.

Health care's advance comes as participants bid shares of pharmaceutical stocks (+1.2%) and biotech stocks (+1.6%) higher as concerns regarding a swine flu outbreak mount.

The gain among utilities stocks comes amid leadership from Southern Co. (SO 29.87, +0.41). DJ30 -70.33 NASDAQ -18.80 SP500 -8.27 NASDAQ Adv/Vol/Dec 602/181 mln/1699 NYSE Adv/Vol/Dec 498/127 mln/2155

09:15 am : S&P futures vs fair value: -14.30. Nasdaq futures vs fair value: -18.50. The current indication by stock futures is that a markedly lower start is in order for the major indices as sellers pressure stocks this morning. Media reports are helping feed a frenzy surrounding an outbreak of swine flu, which is actually helping bolster pharmaceutical stocks in premarket trading, but distracting investors from better-than-expected earnings reports from Humana (HUM) and Verizon (VZ) and news that General Motors (GM) is restructuring its operations.

09:05 am : S&P futures vs fair value: -12.70. Nasdaq futures vs fair value: -17.80. Early participants are pushing stock prices downward ahead of the opening bell. The selling pressure comes after stocks logged a weekly decline of roughly 0.4% last week, which was the first weekly loss after six weeks of gains. The relatively modest downturn came as participants moved to consolidate recent gains, while buyers attempted to pick up on lower stock prices in hopes of taking part in future rallies. In corporate news, General Motors (GM) is restructuring its operations in an attempt to become a more viable company. Despite weakness in the broader market, shares of GM are trading roughly 5.9% higher to $1.79 per share in premarket trading.

08:35 am : S&P futures vs fair value: -13.90. Nasdaq futures vs fair value: -19.30. European stocks are currently trading with weakness. Britain's FTSE is off by 1.0% as its declining issues outnumber its advancers by 3-to-1. Natural resource companies BHP Billiton (BHP) and Rio Tinto (RTP) are trading as laggards, but global financial giant HSBC (HBC) is having the most drag on the British index. However, GlaxoSmithKline (GSK) and Astra Zeneca (AZN) are helping to offset the downward bias as shares of pharmaceutical companies garner interest amid fears stemming from swine flu. Shares of AZN were also upgraded by analysts at UBS. In France, the CAC is trading with a 1.5% loss. Its downturn follows selling pressure in shares of energy giant Total (TOT) and steel producer ArcelorMittal (MT). Financial outfits Societe Generale and AXA (AXA) are also weighing on the broader market. Sanofi-Aventis (SNY) is trading with strength, though. Germany's DAX is currently down 1.4% amid broad-based selling pressure. Deutsche Bank (DB) is currently helping to offset the negative bias, though, as it trades with a strong gain following reports that the company may report a first quarter profit. Asian stocks had a relatively mixed showing as Japan's Nikkei advanced a modest 0.2%, but Hong Kong's Hang Seng slipped 2.7%. The Nikkei was helped along by Chugai Pharmaceutical and Fanuc LTD. Fast Retailing and TDK were laggards, however. Meanwhile, the Hang Seng was hampered by shares of HSBC and the Industrial and Commercial Bank of China.

08:05 am : S&P futures vs fair value: -13.70. Nasdaq futures vs fair value: -18.00. More than 20 companies have confirmed that they will announce their latest quarterly results ahead of this morning's opening bell. Of the more widely held companies, Humana (HUM) posted first quarter earnings of $1.22 per share, which is $0.04 more than the consensus forecast of $1.18 per share. Humana also issued upside guidance; the company expects second quarter earnings to range from $1.65 to $1.70 per share, while Wall Street had forecast $1.50 per share for the second quarter. For fiscal 2009, the company expects earnings to range from $6.10 to $6.20 per share, which exceeds the $5.90 per share that is currently being forecast by analysts, on average. Whirlpool (WHR) generated first quarter earnings of $0.91 per share and reaffirmed its 2009 outlook, which calls for earnings from $3.00 to $4.00 per share. The full-year consensus forecast currently calls for $2.78 per share. Verizon (VZ) posted adjusted first quarter earnings of $0.63 per share, which topped the consensus estimate of $0.59 per share. Qualcomm (QCOM) generated pro-forma loss of $0.03 per share, including a litigation settlement charge, for its fiscal second quarter. There are no economic reports of consequence due this morning.

06:24 am : S&P futures vs fair value: -12.70. Nasdaq futures vs fair value: -18.00.

06:23 am : Nikkei...8726.34...+18.40...+0.20%. Hang Seng...14840.42...-418.40...-2.70%.

06:23 am : FTSE...4112.89...-43.10...-1.00%. DAX...4601.15...-73.00...-1.60%.

Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 5 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr