June 29, 2011
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Trade the News Market Internals Update at 12:00ET
***Looking Ahead*** – 11:00 (US) Fed to purchase $2-3B in Notes/Bonds – 11:45 (EU) EU President Van Rompuy speaks at Conference on State of EU – 12:00 (US) Fed’s Raskin Speaks on `Economic Inclusion’ in Washington – 13:00 (US) Treasury to sell $29B in 7-Year Notes – 14:00 (BR) Brazil May Central Gov’t Budget (BRL) […]
Continue reading June 29, 2011
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When the Wave Pattern Fails, one of our favorites
Wave Pattern Failures What is a wave pattern? Buying a pullback or selling a retracement. We have very specific rules for trading these patterns. When a wave pattern fails, its often a great opportunity to make profit. Let’s review the many ways we take failures on the wave pattern. How do we trade failures? The […]
Continue reading June 29, 2011
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Fear pushes commodities higher; OPEC threatens Crude Supply & Dollar Tumbles
——————————————————————– All eyes are on crude oil futures this morning as OPEC threatens cutting its supply of crude oil after the IEA told us they would release more reserves to help lower prices of this ‘black gold’. News this morning has crude oil prices rising on the fear that less supply will lead to higher […]
Continue reading June 28, 2011
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Tape Reading and Saudi News made 250 ticks of profit look EASY
We see the 89range US Dollar is in the middle of the range and right on top of the BMT which will lead to slow and sloppy markets this morning. Clue #1 today = dollar in the middle @ BMT The 13range of the US Dollar Index is moving lower at 800am this morning, making […]
Continue reading June 28, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – (FR) France Net Change Jobseekers: -10.0Ke v -10.9K prior; Total Jobseekers: No est v 2.669M prior – (AR) Argentina May Supermarket Sales Y/Y: No est v 16.4% prior – (US) Weekly API Energy Inventories 10:30 AM Market Internals update at 10:30ET – NYSE volume 155M shares, about 17% below its three-month average; […]
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Easiest Market for Day Traders, Swing Traders & Scalpers
Easiest Market for a new Day Trader, Swing Trader, Scalper Two main issues with the volume on the market you want to trade. – It has enough volume to keep margins low and liquidity high – Not too much volume so that it never moves with anything big. Not enough volume won’t give me consistency […]
Continue reading June 28, 2011
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IEA threatens OPEC; Rollover Fears in the Euro have Gold Rising; Traders prepare for Home Prices & Manufacturing Data this morning
———————————————— News overnight has OPEC and the IEA back in the spotlight. If you recall last week IEA authorized the release of Oil Reserves to help drive more supply into the crude oil market, and overnight we hear news from the IEA that they are leaving the door wide open for more of these ‘strategic’ […]
Continue reading June 27, 2011
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Monday’s are best for this strategy, 100 ticks on Crude
820am est The US Dollar Index is in the middle of a price wedge, and we know this can lead to sloppy markets we trade most. Time is NOT on my side if we don’t break this wedge, and I will use this as an overview of the markets today. Short term trend is DOWN, […]
Continue reading June 27, 2011
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US Rig Count Continues Climbing, How Many is Too Many?
By OGJ editors — US drilling activity continued to increase with 1,882 rotary rigs working this week, 22 more than the previous week and up from 1,552 in a comparable period last year, Baker Hughes Inc. reported. HOUSTON, June 24 Land operations had the biggest increase with 25 additional units for a total of 1,833 […]
Continue reading June 27, 2011
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Trade the news Market Internals update
***Looking Ahead*** – (GE) German Chancellor Merkel Host dinner for China’s Wen Jiabao – 11:00 (US) Fed’s Kocherlakota speaks on leverage in Big Sky, Montana – 11:00 (US) Fed to purchase $4-5B in Notes/Bonds – 11:30 (US) Treasury to sell $27B in 3-Month and $24B in – 12:00 (EU) ECB’s Stark speaks at event in […]
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