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Monthly Archives: October 2011
October 7, 2011
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Trade the News Market Internals Update at 12:00ET
DJIA +25 S&P500 flat Nasdaq -19 ***Economic Data*** – (CA) Canada Sept Net Change in Employment: +60.9K v +15Ke; Unemployment Rate: 7.1% v 7.3% – (CL) Chile Sept CPI M/M: 0.5% v 0.5%e; Y/Y: 3.3% v 3.3%e; CPI Ex Perishables & Fuel M/M: 0.3% v 0.5%e – (CL) Chile Sept Trade Balance: $324.0M v $640.0Me; […]
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Use our Slingshot pattern to grab BOTH sides of the next move!
Slingshot Pattern: This morning in our live trade room we sold the highs of our price wedge using our slingshot pattern, which is an excellent example of a counter-trend trade that ends up giving you two opportunities to profit. This ‘slingshot’ pattern is more specifically our 2-step pattern that turns into a Wave Pattern. One […]
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Day Traders wait for Non Farm Payroll Data ahead of a busy Friday
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— Crude oil futures trading inside the range from Thursday at the highs of the range, the highs of the price wedge, highs of the bear price channel. If price rises inside day tells me to sell PHOD, sell the highs of the price channel and […]
Continue reading October 6, 2011
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Narrow trading ranges on Euro Futures are easy clues to hit profit goals
Today is Thursday with 830am news and tomorrow’s Friday with nonfarm payrolls. This tells us to be ready early this morning, and look for a slowdown after 1030am EST this morning ahead of news tomorrow. So we know the window of opportunity will be smaller today after 1030am EST. 815am EST Crude oil futures trading […]
Continue reading October 6, 2011
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Trade the News Market Internals Update at 12:00ET
Dow +50 S&P +8.2 NASDAQ +24 ***Economic Data*** – (BR) Brazil Sept FGV Inflation IGP-DI: 0.8% v 0.7%e – (SA) South Africa Aug Electricity Consumption Y/Y: +0.4% v -0.7% prior; Electricity Production Y/Y: +0.5% v 0.1% prior – (UK) Bank of England (BOE) raised the Asset Purchase Target by £75B to £275B; Not expected. The […]
Continue reading October 6, 2011
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Day Traders look for Jobless Claims and clues for trading opportunities
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— – Crude oil futures trading outside day this morning above PHOD so buyers in control. Bear price channel & trend line around 81.50 gives us overhead resistance looking for the price reversal. Looking for buyers to push up to price channel highs, sell the highs, […]
Continue reading October 5, 2011
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Confident in your trade plan? Gold futures tested patience today still hit our goal
Mini-Russell Futures trading at the highs of the previous day’s trading range, just above the PHOD. If we fail above the PHOD we want to sell this price down to the price wedge lows. If we keep moving higher above the PHOD we then look to buy a pullback. Final target for the pullback will […]
Continue reading October 5, 2011
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Trade the News Market Internals Update at 12:00ET
***Economic Data*** – (PD) Poland Central Bank leave Base Rate unchanged from 4.50% level; as expected – (US) MBA Mortgage Applications w/e Sept 30th: -4.3% v 9.3% prior – (US) Sept Challenger Job Cuts: 115.7K v 51.1K prior; Y/Y: 211.5% v 47.0% prior – (CL) Chile Aug Economic Activity Y/Y: 4.6% v 4.8%e – (US) […]
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Price Structures gives me the clues I need to find the Best Trades
Price Structure: The way the candlesticks line up to give us clues for what the market personality will look like ahead of time. Using trend lines, I draw price channels, sideways range, and price wedges. These are the most common ‘structure’ with trend lines. I also use the PHOD and PLOD to find the Inside […]
Continue reading October 5, 2011
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Day Traders prep for employment numbers and crude oil inventories
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— – Crude oil futures very sloppy this morning, trading in a price wedge and inside day with sideways trading range. We are 2/3’s of the way to the PHOD and its having trouble. Sell the PHOD as resistance, and if we move higher buying pullback […]
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