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 Post subject: November 6th Friday 2009 Emini ES ($ES_F) points +20.75
PostPosted: Sun Nov 08, 2009 11:20 pm 
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Written By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name wrbtrader. You can review each trade from entry to exit along with commentary and an occasional trading tip involving WRB Analysis (wide range body analysis) because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=67&t=355

Quote:
All my points were made in the a.m. trading session. However, do to being lack to prepare for trading in the p.m. trading session when I returned from a very long break after doing personal stuff...I just churned my account (didn't gain any extra points and racked up a little more in commission). Other than that, I'm going to spend the weekend resting after feeling tired via the reaction to the H1N1 immunization shot.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach 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 analysis).


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

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

Also, I strongly believe that profitable trading involves more than just trade signals and that's why most traders fail because they put all their efforts in trade signals while ignoring the impact on their trading results via market experience, discipline, money management, team collaboration, proper trading enviornment (home or office), market psychology, trader psychology (trading habits/routine and personal lifestyle). If you don't understand this perspective...please ask questions here at the forum for more info or you can tweet me on twitter @wrbtrader.

My Trading Performance: +20.75 Emini ES ($ES_F) points


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Stocks Rise On Day, Week
Wall Street manages gains at the end of an upbeat week, with the Dow topping 10,000. Unemployment spikes to a 26-year high. Oil prices slump as dollar churns.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: November 6, 2009: 6:34 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended a volatile session higher Friday, on bets that the unemployment rate's spike to a 26-year high means the worst for the labor market has already happened.

Analyst upgrades of Dow component General Electric and Nasdaq heavy-hitter Amazon.com and sliding oil prices were also in the mix.

The Dow Jones industrial average (INDU) added 17 points, or 0.2%, closing at 10,023.43. The S&P 500 (SPX) gained 3 points or 0.3%, and the Nasdaq composite (COMP) rose 7 points, or 0.3%.

Stocks gained Thursday, with the Dow reclaiming 10,000 after a series of better-than-expected economic reports. But trading was very choppy Friday, with stocks slumping at the open and then seesawing for most of the session, before closing higher.

"The spike in the unemployment rate was a shock to the market," said Phil Orlando, chief equity market strategist at Federated Investors. "But once investors looked at it and digested it, they were able to take a more measured response."

He said while the unemployment rate jump was surprising, the number of non-farm payrolls cut -- combined with Thursday's weekly jobless claims report -- suggest the pace of layoffs is slowing.

All three major gauges finished higher for the week, recovering most of what was lost in a two-week selloff. Stocks, as represented by the broad S&P 500, had lost 5.6% through the end of last week as investors worried that the rally had gotten ahead of the recovery.

Prior to that selloff, the S&P 500 had rallied 63% off the March bottom.

Jobs: Employers cut 190,000 jobs from their payrolls in October, after cutting 219,000 in the previous month, according to a Labor Department report released Friday. That was worse than the 175,000 economists surveyed by Briefing.com.

The unemployment rate, generated by a separate survey, rose to a 26-year high of 10.2% from 9.8% in September. Economists thought the rate would rise to 9.9%.

Company news: Dow component General Electric (GE, Fortune 500) surged 6.2% after analysts at both Bernstein and Oppenheimer upgraded the stock to "outperform," according to reports.

Amazon.com (AMZN, Fortune 500) surged after Bernstein upgraded it to "outperform" from "market perform," and also lifted its 12-month target price on the stock, according to Briefing.com. AIG (AIG, Fortune 500), the insurance behemoth bailed out by the U.S. government, reported its second straight quarterly profit after seven quarters of losses.

Results were better than expected, but the company's main insurance businesses posted weaker revenue, sending shares tumbling by almost 10% Friday. AIG stock had rallied Thursday ahead of the results.

Starbucks (SBUX, Fortune 500) posted weaker quarterly results that beat expectations in a report released late Thursday. The coffee retailer also boosted its outlook for 2010 profit, after having cut costs and shuttered hundreds of stores in the last year. Shares gained 7.2%.

Fannie Mae (FNM, Fortune 500) reported an almost $19 billion quarterly loss on bad loans. The biggest U.S. mortgage lender also said it would need more help from the Treasury. Shares fell 7.1%.

Market breadth was mixed. On the New York Stock Exchange, winners topped losers by a narrow margin on volume of 1.08 billion shares. On the Nasdaq, decliners topped advancers seven to six on volume of 1.84 billion shares.

World markets: European markets were mixed. Asian markets rallied on the back of Wall Street's rally Thursday.

Currency and commodities: The dollar gained versus the euro and fell versus the yen.

U.S. light crude oil for December delivery fell $2.19 to settle at $77.43 a barrel on the New York Mercantile Exchange, a decline of more than 3%.

COMEX gold for December delivery climbed $6.40 to settle at $1,095.70 an ounce after hitting an all-time high of $1101.90 during the session.

Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.51% from 3.52% Thursday. Treasury prices and yields move in opposite directions.

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Yahoo! Finance

Weekly Recap - Week ending 06-Nov-09The S&P 500 gained every session this week, with the bulk of the gain coming on Thursday following solid results from Cisco (CSCO) and a surge in nonfarm productivity. The much talked about stock market correction continues to fail to materialize with the S&P 500 just 2.9% from its 2009 highs and up 60% from it's march low.

All ten sectors advanced during the volatile week of trade, though cyclical stocks saw the most buying interest. Industrials surged 6.1%, consumer discretionary advanced 4.7% and materials gained 5.0%. Defensive areas underperformed on a relative basis, with telecom and consumer staples both gaining just 1.0%.

In economic news, third quarter nonfarm productivity surged 9.5% in its preliminary report. That is considerably better than the consensus which called for an increase of 6.5% increase. The surge marked the largest gain in productivity since 2003. It was fueled by the sharp increase in third quarter output and the considerable drop in hours worked. With job conditions still weak, unit labor costs dropped 5.2% in the third quarter. They were expected to fall 4.2%.

October nonfarm payrolls fell 190,000 in October, which was worse than the expected decline of 175,000. Meanwhile, the unemployment rate rose to 10.2% from 9.8%, which was worse than the 9.9% consensus. The rise in unemployment was not due to more workers entering the workforce -- the labor force declined by 31,000 people as 259,000 workers left the workforce over the last month. The jump in unemployment was solely due to an increase in the number of unemployed. and reflects the continued challenges in the labor market

In other economic news, ISM Manufacturing Index for October came in at 55.7 (53.0 consensus), the ISM Services Index for October came in at 50.6 (51.5 consensus), construction spending in September spiked 0.8% (-0.2% consensus), and pending home sales for September made a 6.1% monthly increase (consensus unchanged).

In monetary policy news, the Federal Reserve didn't provide much a surprise in its statement, keeping it's language unchanged that low interest rates are warranted for an extended period of time. The Bank of England and European Central Bank also opted to keep their rates unchanged, as expected.

There were a fewer amount of big names among the 94 S&P 500 companies that reported earnings this week as Q3 earnings season starts to wind down, there was . The trend of better than expected earnings continued (75 beat), with revenue failing to match the EPS performance (45 beat).

Of the larger market cap companies reporting this week -- Cisco, CVS, Kraft (KFT), Qualcomm (QCOM) and Time Warner (TWX) -- all reported better-than-expected results. Kraft, however, came up came up short on revenue, and as a result fell 2.7% for the week. With regard to Cisco, the tech bellwether authorized $10 billion more in share buybacks issued a solid outlook during its conference call, helping its shares rise 4.3% on the week.

In other corporate news, Warren Buffet's Berkshire Hathaway (BRK.A) announced a cash and stock offer for Burlington Northern (BNI) at $100 per share. The news sent BNI up 29% for the week, with peers Union Pacific (UNP) and CSX (CSX) also posting healthy gains of 13%.

In commodity trading, gold gained nearly 6% to hit an all-time nominal intraday high of just over $1100 per ounce. Oil prices also gained in a volatile week of gain, up about 1% as the dollar dropped about 0.8%.

Index Started Week Ended Week Change % Change YTD %
DJIA 9712.73 10023.42 310.69 3.2 14.2
Nasdaq 2045.11 2112.44 67.33 3.3 34.0
S&P 500 1036.19 1069.30 33.11 3.2 18.4
Russell 2000 562.77 580.35 17.58 3.1 16.2

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M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)


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