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 Post subject: March 10th Wednesday 2010 Emini TF points - NO TRADES TODAY
PostPosted: Fri Mar 12, 2010 8:25 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Written By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, although this journal contains advertisements involving my trade methods, it does contain useful trading tips a few times per week. Thus, if you're looking for trading tips that can improve your trading and understand that profitable trading involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader that's the same as my user name on twitter.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=72&t=466.

Quote:
Today's results are NO TRADES. I had some major data problems due to my data vendor having problems with the contract rollover with the ICE Russell 2000 Emini TF from the H to M contract...apparently something happen a day early by mistake and that cause data stalls all day. Instead of sitting at my computer waiting for things to get fixed on their side of town...I decided to do some personal work around the house.

Trading Tip: Exit strategy involves more than just profit targets. It should also involve a plan to recognize when the price action may most likely reverse prior to profit targets being reach so that you can lock in profits before the price action retraces to hit your trailing stop or initial stop/loss protection.


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, if you're interested in having free access to one of my profitable trade strategies along with earning extra income with little effort...join my referral program @ http://www.thestrategylab.com/ReferralProgram.htm

My Trading Performance: +0.00 points in the ICE Russell 2000 Emini TF ($TF_F) Futures

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

Stocks Post Modest Gains
By Ben Rooney, staff reporter
March 10, 2010: 4:53 PM ET

NEW YORK (CNNMoney.com) -- Stocks rose Wednesday, with the Nasdaq ending at its highest level in more than 18 months, on strength in the financial services sector and an upbeat report on wholesale inventories.

The Dow Jones industrial average (INDU) rose 3 points, or less than 0.1%, at 10,567, according to early tallies. The S&P 500 index (SPX) added 5 points, or 0.5%, to 1,145.

The Nasdaq composite (COMP) rose 18 points, or 0.8%, to 2,358. The tech-heavy index closed at its highest level since August 2008. Wednesday marked the 10th anniversary of the Nasdaq's all-time closing high of 5,048.62 at the peak of the dot-com bubble.

Bank stocks advanced on upbeat analyst comments and bullish statements from some executives. Citibank (C, Fortune 500) rose 3.6% after the company priced a $2 billion offering of trust-preferred securities. Bank of America (BAC, Fortune 500) gained nearly 2%.

American International Group (AIG, Fortune 500) soared over 10% as investors cheered the insurance giant's recent asset sales. Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500) also gained significant ground.
Citi, AIG, Fannie and Freddie: The Not Fab 4

Technology stocks also posted strong gains. The Sox (SOX), an index of semiconductor shares, gained about 2%.

However, traders said volumes have been declining this week as many market participants move to the sidelines amid a lack of market-moving economic reports.

"There are no buyers to get us over the next hump," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams. He said the market has stalled, with the S&P 500 struggling to push past its Jan. 19 high of 1,150. "Until that happens, the market is just going to drift."
0:00 /2:35Many missed the markets big bounce

Shares of energy producers weakened as oil prices pared earlier gains. Oil briefly traded above $83 a barrel after the government reported a smaller-than-expected increase in oil supplies and a dip in gasoline inventory but ended 60 cents higher to settle at $82.09 a barrel. Gold prices fell.

Stocks managed slight gains Tuesday, which was the one-year anniversary of what many consider to be the bottom of the bear market.

Looking ahead, investors will turn Thursday to the government's weekly report on initial claims for unemployment benefits. Economists surveyed by Briefing.com expect claims to have risen last week by 9,000 to 460,000.

The Census Bureau's report on the January trade gap is also due out Thursday.

Economy: The U.S. Commerce Department said wholesale inventories fell 0.2% in January, after a 1% drop the month before, raising expectations that consumer demand is strengthening.

"It's not that inventories are rebuilding, but the declines are waning," said Bruce McCain, chief investment strategist at Key Private Bank. "Sooner or later, businesses will have to begin producing more."

Separately, the Labor Department said fewer states reported increases in unemployment in January.

The Treasury Department said the government suffered a record $220.9 billion budget deficit in February, after a shortfall of $42.6 billion in January. It was the 17th consecutive monthly deficit and was slightly smaller than the $221 billion shortfall economists had forecast.

Company news: Shares of Facet Biotech (FACT) surged 66% after Abbott Labs (ABT, Fortune 500) announced plans to acquire the company for $27 a share. Abbott gained about 0.7%.

Airline stocks rallied on growing expectations that 2010 is shaping into a profitable year for the industry. Shares of UAL (UAUA, Fortune 500), holding company for United Airlines, and Continental Airlines (CAL, Fortune 500) surged about 5%.

World markets: European markets posted solid gains, while Asian shares ended the session flat.

China reported a 46% increase in exports during February. The rise was due in part to stronger demand from consumers in the United States and Europe, analysts said.

The dollar and commodities: The dollar slipped versus the euro but rose against the yen and the pound.

The price of oil rose 60 cents to settle at $82.09 after hitting a high of $83.03 earlier in the session.

Meanwhile, the price of gold fell $14.20 to close at $1,108.10 an ounce.

Bonds: The price of the 10-year note fell, pushing up the yield to 3.71%. The government sold $21 billion worth of reopened 10-year notes Wednesday as part of a $74 billion offering of U.S. debt this week.

Market breadth was positive. On the New York Stock Exchange, winners beat losers by two to one on volume of 961 million shares. On the Nasdaq, advancers topped decliners by just under two to one on volume of 2.2 billion shares.

Special thanks to Yahoo! Finance and CNNMoney for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ http://twitter.com/wrbtrader

Phone: +1 708 572-4885
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