Trade Results of M.A. Perry Trader and Founder of
WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Attachment:
032912-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1150.png [ 75.87 KiB | Viewed 277 times ]
click on the above image to view today's performance verification Price Action Trade Performance for Today: +11.50 points or
$1150 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
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.
In addition, all trades were posted real-time in the
free #FuturesTrades chat room. You can read
today's #FuturesTrades trading chat room logs for details (e.g. time, price, contract size) about each one of my trades from
entry to exit along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived
@ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=102&t=1180.
To join our
free chat room...
registration instructions located at a different forum
@ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=5&t=630Also, 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).
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.
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).
Trading Plan Daily Routine @
http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=150&t=1403 -----------------------------
Market Summaries The below summaries by
Bloomberg,
CNNMoney and
Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events that had an impact on today's price action. Simply, I'm a strong believer that many variables (key market events) causes key changes in supply/demand and volatility that results in swing points and strong continuation price actions. Thus, I pay attention to these key market events from one trade to the next trade to give me the
market context for my
technical analysis. Just as important, these summaries becomes my
archives to allow me to understand what was happening on any given trading day in the past...something I can not get from my broker statements alone.
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Market Update 4:30 pm : The broad market booked its third straight loss on Thursday, but for the second straight session it staged a late rally that slashed losses.
Prior to the open traders shrugged off the final reading on fourth quarter GDP. Unchanged from the previous report, it showed that the economy expanded at a rate of 3.0%, just as had been widely anticipated. The latest initial jobless claims count also failed to excite; claims climbed 9,000 week-over-week to 359,000, which is greater than the tally of 350,000 that had been expected, on average, among economists polled by Briefing.com.
Financials had helped the stock market halve its loss in the prior session, but today the sector led it lower. Financials were off by about 2% at their session low, dragging down the broader market to a loss of nearly 1%. Although the Financial sector was eventually able to trim its loss, it failed to fully participate in the broad market's afternoon rally. As a result it still suffered a 1.1% loss.
Continuing with the role reversal, Energy stocks weighed heavily on trade yesterday and were down in excess of 1% again today before a barrage of late-afternoon buying boosted the sector to back to the flat line.
The move came even though oil prices came under further pressure today. In fact, the energy component set a new monthly low narrowly above $102 per barrel before it settled at $102.80 per barrel with a 2.5% loss. Worse still, natural gas prices plummeted to new multi-year lows in the wake of a bearish weekly inventory report before they settled pit trade with a 5.7% loss at $2.15 per MMBtu. In connection with that move the US Natural Gas Fund (UNG 16.21, -0.90) notched new lifetime lows.
Although neither the S&P 500 nor the Nasdaq could extend their late climb into positive territory, the Dow managed to muster a narrow gain with help from Coca-Cola (KO 73.81, +1.15), Intel (INTC 28.16, +0.36), and Caterpillar (CAT 106.02, +1.76), each of which advanced in excess of 1%.
Consumer Discretionary play Best Buy (BBY 24.77, -1.85) still suffered a deep loss and set a 10-day low as sellers piled on in response to the company's latest quarterly report. The results featured an upside earnings surprise, but that was overshadowed by a relatively light revenue figure. An in-line outlook failed to win favor for the stock.
In response to the stock market's morning descent the Volatility Index, euphemistically labeled Fear Gauge, spiked more than 10% to clear 17, but it retreated as the tone of trade improved. By day's end it was relatively flat.
Treasuries managed to maintain gains in the face of the stock market's upswing. That took the yield on the benchmark 10-year Note to a new 10-day low, comfortably below 2.20%.
The greenback had another relatively quiet session in that the Dollar Index traded near the neutral line for the better part of the day and into the close. However, the sterling pound staged a strong gain that helped it recoup its prior session loss by trading up 0.4% to $1.59 by the closing bell. The yen was up more than 1% against the greenback, but drifted lower into the afternoon so that it the yen per dollar ratio was down 0.6% to 82.42 at session end.
Advancing Sectors: Utilities +0.4%, Health Care +0.2%, Industrials +0.1%, Materials +0.1%
Unchanged: Energy, Consumer Staples, Consumer Discretionary
Declining Sectors: Tech -0.2%, Telecom -0.3%, Financials -1.1%DJ30 +19.61 NASDAQ -9.60 NQ100 -0.3% R2K -0.3% SP400 -0.1% SP500 -2.26 NASDAQ Adv/Vol/Dec 1064/1.74 bln/1430 NYSE Adv/Vol/Dec 1161/817 mln/1815
3:30 pm : Concerted selling among commodities caused the CRB Index to suffer a 1.8% loss, which stands as its worst single-session slide in three months.
Natural gas prices tumbled further into negative territory following weekly inventory numbers that showed a build of 57 bcf, which exceeds the expected build of 50 bcf. The move left prices to trade with losses in excess of 5% after they had been down about 2% prior to the report. Unable to recover, natural gas prices probed new multi-year lows before settling pit trade with a 5.7% loss at $2.15 per MMBtu. Reflecting such action, the US Natural Gas Fund (UNG 16.29, -0.82) succumbed to heavy pressure that left the ETF to log lifetime lows.
Crude oil futures prices fell as low as $102.10 per barrel, but trended upward in the final hour of pit trade. Still, it logged a loss of 2.5% at $102.80 per barrel.
Precious metals slid into negative territory mid-day. Selling took gold as low as $1644.30 per ounce and silver to a session low of $31.63 per ounce. From there both metals fought to recover. Although gold still settled at $1651.90 per ounce with a 0.3% loss, silver settled at $31.98 per ounce with a a gain of 0.4%.DJ30 -5.75 NASDAQ -10.33 SP500 -4.03 NASDAQ Adv/Vol/Dec 870/1.30 bln/1615 NYSE Adv/Vol/Dec 860/495 mln/2100
3:00 pm : Stocks continue trying to trim losses. Although it remains in the red, the Dow is in the best shape of the major equity averages. It has been helped by Coca-Cola (KO 73.44, +0.78), Intel (INTC 28.06, +0.26), and Caterpillar (CAT 104.95, +0.69).
With only an hour remaining in trade many market participants are making preparations for the next round of announcements. Only a handful of companies are scheduled to release quarterly results after the close. They are headlined by Research In Motion (RIMM 13.63, -0.04). No quarterly reports of consequence are expected tomorrow morning.
The economic calendar features monthly personal income and spending numbers at 8:30 AM ET. The latest Chicago PMI reading will be released at 9:45 AM ET. Last on the list is the final monthly reading on consumer sentiment from the University of Michigan at 9:55 AM ET. DJ30 -30.87 NASDAQ -16.44 SP500 -6.87 NASDAQ Adv/Vol/Dec 810/1.20 bln/1665 NYSE Adv/Vol/Dec 780/455 mln/2170
2:30 pm : Stocks have spent the past 30 minutes trying to trim their losses. In contrast to the prior session, the effort comes without support from the Financial sector, which is still down 1.4%. Health Care stocks and Utilities stocks, traditionally defensive in nature, have managed to make their way into positive territory. Although their gains stand at only 0.1%, the move puts the two sectors at session highs.DJ30 -36.66 NASDAQ -18.48 SP500 -7.60 NASDAQ Adv/Vol/Dec 750/1.10 bln/1720 NYSE Adv/Vol/Dec 725/420 mln/2225
2:00 pm : Stocks continue to slog along with sizable losses. As things currently stand, the stock market is on pace for its third straight loss. In that time, the S&P 500 has fallen about 1.4%, which stands as its worst three-session performance since it fell more than 2% three weeks ago.DJ30 -58.57 NASDAQ -28.26 SP500 -10.84 NASDAQ Adv/Vol/Dec 655/990 mln/1795 NYSE Adv/Vol/Dec 625/375 mln/2300
1:30 pm : Results from an auction of 7-year Notes were released at 1:00 PM ET. The auction drew a bid-to-cover ratio of 2.72, dollar demand of $78.9 billion, and an indirect bidder participation rate of 42.8%. For comparison, the prior offering drew a bid-to-cover ratio of 3.11, dollar demand of $90.2 billion, and an indirect bidder rate of 41.8%, while an average of the past six auctions results in a bid-to-cover ratio of 2.89, dollar demand of $83.8 billion, and an indirect bidder participation rate of 38.5%.
Treasuries have eased back a bit in the wake of the sale's results. Still, the yield on the benchmark 10-year Note remains below 2.20%, while the yield on the 7-year Note stands at 1.55% and the yield on the 2-year Note sits at 0.33%. DJ30 -57.86 NASDAQ -27.89 SP500 -10.71 NASDAQ Adv/Vol/Dec 655/925 mln/1780 NYSE Adv/Vol/Dec 600/355 mln/2315
1:00 pm : Persistent selling pressure has kept stocks in the red since the open. Losses have been broad, but Financials are having the heaviest drag.
Early traders failed to take encouragement from a weekly initial jobless claims count that was less than the prior week's upwardly revised tally, but greater than what had been widely expected. Word that fourth quarter GDP continued to show a growth rate of 3.0% was shrugged off. A recent reading on economic sentiment in Europe also underwhelmed.
Bank stocks helped the broad market halve its loss in the prior session, but they have been subjected to a concerted selling effort today. That has the KBW Bank Index down 1.6%. The broader Financial sector is down the same.
Although they aren't the worst performers, natural resource plays are being hit hard for the second straight session. More specifically, Energy stocks are down 1.0% while Materials stocks are down 1.1% following respective losses of 1.2% and 1.5% in the prior session. Their losses come in close connection with softer commodity prices -- the CRB Commodity Index is currently down 1.5%. Energy components have been especially weak as natural gas prices drop well in excess of 5% to set new multi-year lows near $2.15 per MMBtu, while crude oil futures prices trade with a 2.0% loss at $103.32 per barrel after they broke below $103 per barrel to set a new monthly low earlier in the day. Oil prices remain below their 50-day average.
Best Buy (BBY 24.73, -1.89) is among the poorest individual performers. The stock has dropped precipitously as sellers pile on in response to the company's latest quarterly report, which featured a relatively light revenue figure, an upside earnings surprise, and an in-line outlook.
In response to the stock market's third straight slide the Volatility Index has made another dramatic jump. Now above 17, the euphemistically labeled Fear Gauge is up 10% today, or about 15% week to date. DJ30 -51.54 NASDAQ -25.19 SP500 -10.13 NASDAQ Adv/Vol/Dec 565/845 mln/1870 NYSE Adv/Vol/Dec 550/325 mln/2355
12:30 pm : Persistent pressure has kept stocks chopping along session lows with sizable losses. Weakness has been widespread for virtually the entire session.
In the face of such weakness managed health care providers are displaying strength. Buying interest in the group has shares of WellPoint (WLP 71.45, +1.45), UnitedHealth Group (UNH 57.53, +2.09), and CIGNA (CI 48.80, +1.73) all sporting impressive gains. DJ30 -79.01 NASDAQ -34.24 SP500 -13.14 NASDAQ Adv/Vol/Dec 525/755 mln/1875 NYSE Adv/Vol/Dec 525/295 mln/2365
12:00 pm : Trade in Europe settled about 30 minutes ago. Broad losses were booked. The weak action dragged down the EuroStoxx 50 to a 1.2% loss that left it only about a point above the two-month low that it set earlier this month.
Germany's DAX ended the day down 1.7%. Meanwhile, France's CAC fell 1.4% as Britain's FTSE booked a 1.1% loss. Among the bourses in the eurozone periphery, Spain's IBEX slid to a 0.7% loss, while Portugal's PSI was pressed to a 1.4% loss. Italy's MIB Index suffered a 3.1% loss. Greece's Athex Composite dropped 2.4%. DJ30 -68.07 NASDAQ -30.44 SP500 -11.91 NASDAQ Adv/Vol/Dec 510/675 mln/1890 NYSE Adv/Vol/Dec 515/265 mln/2355
11:30 am : Tech stocks had made an attempt to turn higher earlier this morning, but the move lost momentum as it approached the neutral line. Subsequent selling pressure has left the sector to descend to a session low so that it trades with a 0.7% loss.
Among Tech issues, heavyweights like Google (GOOG 649.45, -6.31), Microsoft (MSFT 31.88, -0.31), and Apple (AAPL 611.20, -6.42) are having the most adverse impact on the sector. Intel (INTC 27.81, +0.01) is holding steady at the flat line, however. DJ30 -74.17 NASDAQ -27.21 SP500 -11.84 NASDAQ Adv/Vol/Dec 510/570 mln/1835 NYSE Adv/Vol/Dec 550/230 mln/2280
11:00 am : Stocks recently chopped their way down to a new session low, taking the S&P 500 even farther below the 1400 line. There isn't a single sector in positive territory.
Financials, now down 1.6%, continue to weigh heavy on trade. Their weakness today contrasts with the relative strength they displayed in the prior session, when the sector staged a late rally that helped the broad market halve its loss. Banks led the prior session's upswing, but they're leading losses in the latest round of action. DJ30 -65.61 NASDAQ -22.12 SP500 -10.78 NASDAQ Adv/Vol/Dec 465/445 mln/1825 NYSE Adv/Vol/Dec 495/185 mln/2300
10:35 am : Natural gas prices have been in the red all morning and were recently down about 1.8% ahead of weekly inventory numbers. Weekly inventories experienced a build of 57 bcf, which contrasts with the consensus call for a build of 50 bcf. On the back of that report natural gas prices have tumbled to $2.18 per MMBtu for a 4.6% loss.
Crude oil prices opened pit trade with a narrow loss, but the energy component has since encountered pronounced selling pressure. In turn, crude oil futures prices are down 1.4% to a morning low of $103.95 per barrel. Their loss comes on top of a near 2% decline in the prior session.
Precious metals have seen their gains pared in recent trade. Gold prices were up above $1660 per ounce earlier this morning, but now they are flat at $1657.80 per ounce. As for silver, prices were as high as $32.10 per ounce, but they have since pulled back to $31.85 per ounce, which makes for a gain of less than 0.1%. DJ30 -82.57 NASDAQ -21.97 SP500 -12.09 NASDAQ Adv/Vol/Dec 530/305 mln/1705 NYSE Adv/Vol/Dec 515/135 mln/2225
10:00 am : Stocks recently retreated to new session lows, but selling has since eased, allowing the major equity averages to stabilize.
While Financials continue to contend with concerted selling, shares of Consumer Discretionary play Best Buy (BBY 25.28, -1.34) is under pronounced pressure as sellers pile on in following the company's latest quarterly report. The stock currently down 5% to a new 10-day low. DJ30 -58.54 NASDAQ -15.96 SP500 -8.85 NASDAQ Adv/Vol/Dec 465/135 mln/1690 NYSE Adv/Vol/Dec 485/68 mln/2180
09:45 am : Stocks are down markedly in the opening minutes of trade. Weakness is widespread, but Financials are weighing especially heavy as the sector wrestles with a 0.9% loss. The sector's slide comes as bank stocks come under renewed pressure after they had displayed resilience in the prior session. The action has the KBW Bank Index down 1.0% and near its prior session intraday low.DJ30 -65.69 NASDAQ -16.31 SP500 -9.18 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA
09:15 am : S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -9.50. Stock futures suggest that a firmly lower start to trade is in order. The posture comes as premarket participants respond to weakness abroad, and fail to find encouragement from the latest dose of data.
Domestic data featured a weekly initial jobless claims tally that was less than the prior week's count, but greater than what had been widely expected. The final reading on fourth quarter GDP was unsurprising in that it continued to show a growth rate of 3.0%. Data from abroad featured a report from the European Commission that suggested economic sentiment slipped since the prior month.
Although the Dollar Index is up only narrowly, the euro is down about 0.4% to $1.33. The Japanese yen has put together an impressive gain that has dropped the dollar-yen exchange rate 1.0% to 82.10 yen per dollar. Action among commodities is mostly mixed this morning. As such, the CRB Index has generally remained near the neutral line -- it is currently down less than 0.2%.
On the corporate front, headlines have been rather sparse, but Best Buy (BBY 25.60, -1.02) shares have come under pronounced pressure after they had swung higher on the heels of the company's latest quarterly report, which featured a relatively light revenue figure, an upside earnings surprise, and an in-line outlook. Note: ticker quotes reflect premarket prices.
09:05 am : S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -6.50. Relatively mixed action among commodities has the CRB Index down 0.1% this morning.
Crude oil prices are off by a modest 0.2% to $105.20 per barrel in early pit trade. Prices for the energy component fell nearly 2% in the prior session. Natural gas continues to trade with weakness. It was last quoted at $2.25 per MMBtu, which makes for a 1.3% loss, ahead of weekly inventory numbers at 10:30 AM ET.
Precious metals have attracted enough support to trade higher. As such, gold prices are up 0.3% to $1662.00 per ounce, while silver sports a 0.7% gain at $32.05 per ounce.
In the backdrop, the dollar has worked its way up from a modest loss to a narrow gain, such that it currently leads a collection of competing currencies by just 0.1%. Most of that move is owed to weakness in the euro as the yen attracts strong buying interest for the second straight session.
08:35 am : S&P futures vs fair value: -6.20. Nasdaq futures vs fair value: -6.80. Stock futures slipped in response to the latest doses of data, but the downtick has since steadied. Initial jobless claims for the week ended March 24 totaled 359,000, which is less than the upwardly revised prior week tally of 364,000, but greater than the tally of 350,000 initial claims that had been expected, on average, among economists polled by Briefing.com. Continuing claims declined to 3.34 million from 3.38 million.
Separately, the final take on fourth quarter GDP showed that the economy expanded at a rate of 3.0%, just as had been anticipated. That was also unchanged from the preliminary reading. Also unchanged from the prior report, the GDP Deflator increased by 0.9%, as had been expected.
08:05 am : S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -4.00. The stock market has already booked losses in back to back sessions, but premarket participants have responded to losses abroad by pressuring stock futures. With a focus on Europe, the European Commission reported a slip in economic sentiment. There are also reports that citizens of Spain are striking against austerity measures ahead of the government's budget.
On the earnings front, reports are limited in quantity, but last evening Mosaic (MOS 56.41, -1.81) reported results that featured a bottom line miss. Best Buy (BBY 27.50, +0.88) just posted a bottom line beat, but its revenue was light relative to what Wall Street had expected. Best Buy also issued an in-line forecast. Note: ticker quotes reflect premarket prices.
The economic calendar features weekly initial jobless claims at 8:30 AM ET, which is also when the final reading on fourth quarter GDP will be released.
06:21 am : [BRIEFING.COM] S&P futures vs fair value: -4.90. Nasdaq futures vs fair value: -5.30.
06:21 am : Nikkei...10114.79...-67.80...-0.70%. Hang Seng...20609.39...-276.00...-1.30%.
06:21 am : FTSE...5757.53...-51.50...-0.90%. DAX...6922.36...-76.40...-1.10%.
Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. ![good morning gm](./images/smilies/emoticonhello.gif)
Best Regards,
M.A. Perry
Trader and Founder of
WRB Analysis (wide range body/bar analysis)
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