Stock Picks Recap for 7/21/11
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, CHTR triggered long (with market support) and worked:
INTU triggered short (without market support) and worked:
From the Messenger, GOOG triggered long (with market support) and worked great:
Mark's EBAY triggered long (with market support) and worked:
NFLX triggered short (without market support) and worked:
In total, that's 3 trades triggering with market support, all 3 of them worked.
Forex Calls Recap for 7/21/11
A winner and a loser unfortunately, mostly because the later trigger overnight on the GBPUSD long worked great even though the first one stopped, and I wasn't awake yet for the second one.
Here's the US Dollar Index intraday with market directional lines:
New calls and Chat tonight.
EURUSD:
Triggered short at A, hit first target at B, second half stopped:
GBPUSD:
Triggered long at A and stopped, which is unfortunate because this was a nice breakout setup, and it triggered again in the morning at B (but before the time that we count them again at 9 am EST) and ran 150 pips:
Stock Picks Recap for 7/20/11
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, STEC triggered long (without market support due to opening five minutes) and didn't work:
CRUS gapped over the trigger, no play.
EBAY triggered long (without market support due to opening five minutes) and didn't work:
In the Messenger, FSLR triggered short (with market support) and worked:
GS triggered long (without market support) and worked:
GOOG triggered short (with market support) and worked:
AAPL triggered short (with market support) and worked for over a point, so an easy partial:
In the afternoon as market direction turned green, BIDU triggered long (with market support) and worked:
SINA triggered long (with market support) and worked enough for a partial:
In total, that's 5 trades triggering with market support, all 5 of them worked.
A Value Area Walkthrough
A Value Area play is a trade based on the "market memory" of the prior day's trading activity. It is a specific range from the prior day's action that the market uses in a certain method with a high percentage of success. One of the main ways that we use the Value Area is to look for wide open Value Areas where a pair starts outside the Value Area, then enters the Value Area or breaks through a key support/resistance point just inside the Value Area, and then targets moving across the Value Area without breaking back outside of it.
On Wednesday, we had a Classic Value Area play on the GBPJPY. We focused in the Trading Lab on the break under the LBreak, which was just under the line blue (cyan) Value Area High line. The dark blue Pivot was also right there. So the goal was to go short under LBreak with a stop over VAH (in case it came back outside the Value Area) and a target of the cyan VAL. It triggered short at A, retested EXACTLY the VAH at B and didn't stop out above it, and hit VAL target at C for a perfect Value Area trade:
Forex Calls Recap for 7/20/11
Two stopouts, the first time in a while we've seen that. Ranges were very narrow and contained all of the sudden. The Value Area on the GBPJPY, which I focused on in the Lab yesterday evening, worked perfect, so see that section below as well as the GBPUSD for the stop outs.
US Dollar Index intraday with market directional levels:
New calls tonight and Chat.
GBPUSD:
Triggered short at A (one leg might have triggered just before that on the first test of that level) and stopped at B. Triggered long at C, stopped at D. Triggered long again at E but closed flat at F as session ran out of time and we weren't going anywhere:
Stock Picks Recap for 7/19/11
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.
No triggers off of the report as all of the calls were short and the market gapped up and ran.
In the Messenger, GOOG triggered long (with market support) and worked:
COST triggered long (with market support) and worked:
NFLX triggered long (with market support) and worked enough for an easy partial:
In total, that's 3 trades triggering with market support, all 3 of them worked.
Forex Calls Recap for 7/19/11
More winners and a stop out, see EURUSD and GBPUSD below. We also closed the second half of the prior day's short in GBPUSD in the money.
Here's the US Dollar Index intraday with market directional lines:
New calls and Chat tonight. No major data overnight.
EURUSD:
Triggered short at A and stopped:
GBPUSD:
Stopped final half of prior day's trades at A for 20 pip gain. This also was the new long entry, but it gave you hours and hours all the way to B to enter. Hit first target at C, raised stop and stopped final piece at D:
Stock Picks Recap for 7/18/11
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, ZAGG triggered long (without market support) and didn't work:
GPOR triggered long (without market support) and worked great:
NXPI triggered short (without market support due to opening five minutes) and worked:
MDAS triggered short (with market support) and worked:
LEAP triggered short (with market support) and didn't work:
From the Messenger, AMZN triggered long (without market support) and didn't work:
RIMM triggered short (with market support) and worked great:
COST triggered short (with market support) and worked enough for a partial:
AMZN triggered short (with market support) and worked enough for a partial:
SINA triggered long (without market support...just barely) and worked enough for a partial anyway:
NFLX triggered long (with market support, which lasted for about ten minutes) and worked enough for a partial:
In total, that's 6 trades triggering with market support, 5 of them worked, 1 did not.
Stock Picks Recap for 7/18/11
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, ZAGG triggered long (without market support) and didn't work:
GPOR triggered long (without market support) and worked great:
NXPI triggered short (without market support due to opening five minutes) and worked:
MDAS triggered short (with market support) and worked:
LEAP triggered short (with market support) and didn't work:
From the Messenger, AMZN triggered long (without market support) and didn't work:
RIMM triggered short (with market support) and worked great:
COST triggered short (with market support) and worked enough for a partial:
AMZN triggered short (with market support) and worked enough for a partial:
SINA triggered long (without market support...just barely) and worked enough for a partial anyway:
NFLX triggered long (with market support, which lasted for about ten minutes) and worked enough for a partial:
In total, that's 6 trades triggering with market support, 5 of them worked, 1 did not.
Forex Calls Recap for 7/18/11
A loser and a winner to start the week. New calls and Chat tonight. Ranges in the European session were dead, partially due to a bank Holiday in Japan, but they picked up in the US session.
Here's the US Dollar Index intraday with market directional levels:
GBPUSD:
Triggered short at A and stopped at B. Put back in the orders for the US session, triggered short at C and hit first target at D, holding with a stop over S1 (entry):
