Forex Calls Recap for 9/14/11
Interesting session that went just about nowhere in the end again. Two winners and a loser for the session. See GBPUSD and EURUSD below. New calls and Chat tonight, but we go half size ahead of CPI in the morning.
Here's the US Dollar Index intraday with our market directional lines:
EURUSD:
I added calls in the EURUSD ahead of the European session because the GBPUSD short triggered early. Here, we triggered long at A and stopped at B:
GBPUSD:
Triggered short at A, hit first target at B, adjusted stop in the morning and stopped at C just over entry. Same trade re-entered in the morning, same result, short at D, partial at E, closed last piece at F:
Forex Calls Recap for 9/14/11
Interesting session that went just about nowhere in the end again. Two winners and a loser for the session. See GBPUSD and EURUSD below. New calls and Chat tonight, but we go half size ahead of CPI in the morning.
Here's the US Dollar Index intraday with our market directional lines:
EURUSD:
I added calls in the EURUSD ahead of the European session because the GBPUSD short triggered early. Here, we triggered long at A and stopped at B:
GBPUSD:
Triggered short at A, hit first target at B, adjusted stop in the morning and stopped at C just over entry. Same trade re-entered in the morning, same result, short at D, partial at E, closed last piece at F:
Stock Picks Recap for 9/13/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
In the report, CBOE triggered long (with market support) and worked:
In the Messenger, Rich's JPM triggered long (with market support) and didn't work:
RIMM triggered long (without support due to opening five minutes) and didn't work:
BIDU triggered long (with market support) and didn't work:
EBAY triggered long (with market support) and didn't work:
Rich's SODA triggered long (with market support) and worked for a point:
COST triggered long (with market support) and worked:
Rich's AAPL triggered short (without market support) and didn't work:
Lots of additional calls, but none of them triggered.
In total, that's 6 trades triggering with market support, 3 of them worked, 3 did not. Not exciting.
Stock Picks Recap for 9/13/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
In the report, CBOE triggered long (with market support) and worked:
In the Messenger, Rich's JPM triggered long (with market support) and didn't work:
RIMM triggered long (without support due to opening five minutes) and didn't work:
BIDU triggered long (with market support) and didn't work:
EBAY triggered long (with market support) and didn't work:
Rich's SODA triggered long (with market support) and worked for a point:
COST triggered long (with market support) and worked:
Rich's AAPL triggered short (without market support) and didn't work:
Lots of additional calls, but none of them triggered.
In total, that's 6 trades triggering with market support, 3 of them worked, 3 did not. Not exciting.
Forex Calls Recap for 9/13/11
Not a very interesting night, but a learning trade in the GBPUSD based on order staggering, see below.
Here's the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight.
GBPUSD:
Our system teaches an order staggering methodology where your entries and exits are spread out over several pips. Stops should be "20 pips plus spreads" based on the spreads for the pair that is being traded. In this case, the GBPUSD triggered short at A, went only "20 pips plus 1" against at B, so might have stopped a leg of your trade if that was where you had the stop. Also could have re-entered for the European session as that potential stop occurred before midnight my time. Re-entry would have been C, or whatever pieces you still had on, hit first target at D, lowered stop over entry in the morning and stopped at E:
Forex Calls Recap for 9/13/11
Not a very interesting night, but a learning trade in the GBPUSD based on order staggering, see below.
Here's the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight.
GBPUSD:
Our system teaches an order staggering methodology where your entries and exits are spread out over several pips. Stops should be "20 pips plus spreads" based on the spreads for the pair that is being traded. In this case, the GBPUSD triggered short at A, went only "20 pips plus 1" against at B, so might have stopped a leg of your trade if that was where you had the stop. Also could have re-entered for the European session as that potential stop occurred before midnight my time. Re-entry would have been C, or whatever pieces you still had on, hit first target at D, lowered stop over entry in the morning and stopped at E:
Tradesight Market Preview for 9/14/11
The SP was higher by 8 handles. Price remains below the midpoint of the working trend channel and the gap form last week is still open. Tomorrow is the Wednesday before options expiration and should provide a nice move. The many of the put buyers are in the money which implies that the options desk are net long and will need to sell. Be sure to pay special attention to the directional bias after the first 60mins of trade.
Naz was higher by 24 and filled the overhead gap. Note price is above the midpoint of the trend channel which is a clear indication of relative strength.
Multi sector daily chart:
The 10-day Trin remains very elevated and full of upside juice in the tank.
The SOX was top gun and cleared the August consolidation area. The pattern is only 4 days up in the Seeker count.
The BTK is still contained within the current pattern, so nothing new technically.
The BKX is still weak and still waiting for the Seeker countdown to complete.
The OSX is winding up in a triangle and should make a powerful move once it’s resolved.
Gold was higher on the day by $10 still using 1800 as support.
Oil closed over the $90 mark. This is the very key area of resistance between 90 and 92.
Tradesight Market Preview for 9/14/11
The SP was higher by 8 handles. Price remains below the midpoint of the working trend channel and the gap form last week is still open. Tomorrow is the Wednesday before options expiration and should provide a nice move. The many of the put buyers are in the money which implies that the options desk are net long and will need to sell. Be sure to pay special attention to the directional bias after the first 60mins of trade.
Naz was higher by 24 and filled the overhead gap. Note price is above the midpoint of the trend channel which is a clear indication of relative strength.
Multi sector daily chart:
The 10-day Trin remains very elevated and full of upside juice in the tank.
The SOX was top gun and cleared the August consolidation area. The pattern is only 4 days up in the Seeker count.
The BTK is still contained within the current pattern, so nothing new technically.
The BKX is still weak and still waiting for the Seeker countdown to complete.
The OSX is winding up in a triangle and should make a powerful move once it’s resolved.
Gold was higher on the day by $10 still using 1800 as support.
Oil closed over the $90 mark. This is the very key area of resistance between 90 and 92.
Tradesight Market Preview for 9/13/11
The SP was lower for most of the session but put in a reversal day to close plus 5 handles. The lower boundary still has not been violated on a closing basis. Continue to use the channel for guidance on price.
Naz was higher by 26 on the day fueled by a semiconductor takeover. Just like the SP the Naz is working within a price channel. Be sure to keep on top of where price is relative to the channel.
Multi -sector daily chart:
The put/call ratio is pulling back from a >1.30 reading on Friday.
The NYSE cumulative A/D line is still trading in step with price which is not bullish but perhaps just as importantly leading to the downside. This is very important because the A/D line is a leading indicator.
The SOX was the top gun on the day, settling close to the top of the trading range. Fresh leadership after the takeover pop would be really very positive for equities.
The BKX was stronger than the market but is still nowhere positive on the chart. It is still a very sloppy pattern. The chart sill needs a few more weak candles to record 13 bars down for a Seeker buy signal.
The OSX is winding up in a triangle. Key resistance remains around 245.
The BTK is tracing out the same failure pattern. Keep a close eye on the lower DTL.
The XAU was the last laggard on the day down 2.6% and a source of funds. This could be a velocity break in the works because it tested the active static trend line on candle one.
Oil:
Gold was lower by $41, note the trend channel.
There was a strong (bearish) cross in the XAU/gold futures chart:
Stock Picks Recap for 9/12/11
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, HRBN triggered long (without market support) and worked enough for a partial:
FISV gapped under the short trigger, no play.
LAMR triggered short (with market support) and worked enough:
From the Messenger, NTAP triggered long (with market support) and worked:
Rich's AMZN triggered long (with market support) and worked:
His CME triggered long (with market support) and worked:
AMGN triggered long (with market support) and worked enough for a partial:
Rich's CAVM triggered short (with market support) and worked enough for a partial:
His FFIV triggered short (with market support) and did not work:
His JOYG triggered short (with market support) and worked:
His BIDU triggered short (with market support) and worked:
ERTS long triggered in the last ten minutes, we won't count it.
In total, that's 9 trades triggering with market support, 8 of them worked, 1 did not.