Archive for August, 2009

Pivots, Fed Announcements and Comments

By , 27 August, 2009, No Comment

With some major announcements in the offing an hour prior to the opening, there should be some extreme volatility early on in the trading session as the traders sort the the meaning and long term ramifications of the GDP and employment numbers.

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Pivot, R1,R2 and S1, S2: Fed announcements

By , 26 August, 2009, No Comment
ESU9
For 08/24/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1036.00 1046.75 1016.25 1005.50 985.75
New Home Sales
[Report][djStar]10:00 AM ET

Dennis Lockhart Speaks
11:30 AM ET
5-Yr Note Auction
[Bullet1:00 PM ET

Lots of Fed info streaming out of the government today, with durable goods orders already announced as increasing 4.9%.  Should make for an interesting and profitable day of trading.

Pivot R1R2 and S1S2: Fed Announcments

By , 25 August, 2009, No Comment

The news starts to ratchet up a bit today and it will merit a trader to take notice of the consumer confidence and Case-Shiller announcements. Personally, I put more confidence in the Case-Shiller modeling system than some of the government announcements on the housing situation.

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So You Want to Be a Great Trader? Try Reading!

By , 24 August, 2009, No Comment

You might notice that many of the titles I recommend are not necessarily trading methodologies I endorse or even think are terribly valid. But you cannot read too much, you cannot learn to much, and many traders don’t appear to have a solid fundamental background on this art we call futures trading

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Todays Pivots R1 R2 S1 S2

By , 24 August, 2009, No Comment
ESU9
For 08/24/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1036.00 1046.75 1016.25 1005.50 985.75

Fed and Fed Agency Announcements

As you can see, there is very little in the way of announcements today that will effect the equity futures trading markets.  But beware, later this week there are a slew of big announcements coming, especially the GDP later this week.   So today is one of those days you can trade without checking your watch and waiting for expected news.

Todays ES Chart

By , 21 August, 2009, 1 Comment

Charts courtesy of AMP Trading, get a free demo account and paper trade.

ES Chart for August 21, 2009

ES Chart for August 21, 2009


After a dramatic opening, which resulted in a great trade, the market flattened out and stayed that way until a small move at the close. I missed the early part of the large move and limited out at 12 ticks, so I can’t say I really did a good job on the first trade. I had stopped trading toward the end of the day so I did not participate in the final legitimate trade of the day. I would not say I did a great job.

Daily Pivots

By , 21 August, 2009, No Comment
ESU9
For 08/21/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1010.25 1015.75 1002.25 996.75 988.75

William Dudley Speaks
8:00 AM ET

Ben Bernanke Speaks
10:00 AM ET

Stock futures rose moderately Friday, pointing to a higher open on Wall Street as investors await a speech from Federal Reserve Chairman Ben Bernanke.

Traders will be looking to Bernanke's speech for insight into a potential economic rebound.

During an annual Fed conference in Jackson Hole, Wyoming, Bernanke is expected to talk about the past year's financial crisis and could provide clues about how the Fed will eventually withdraw trillions of dollars in aid used to support the economy.

Withdrawing that support too soon could hinder any recovery. But, waiting too long could lead to rapid inflation.

A report on existing home sales could also provide direction for investors. Sales have shown signs of life in recent months, raising hopes for a recovery for the overall economy. The National Association of Realtors is expected to report existing home sales rose for the fourth consecutive month in July.

July's sales are forecast to rise 2.2 percent to a seasonally adjusted annual rate of 5 million, from 4.89 million in June, according to economists polled by Thomson Reuters.

The report is due out at 10 a.m. EDT (1400 GMT)

ES Emini: Why we err-continued

By , 20 August, 2009, No Comment

My biggest weakness is to be happy with a three point gain in a trade, especially if I am bracket trading with 12 tick stops. I have also moved stops to accommodate a losing trade if I erroneously feel I am in a good trade and the market isn’t cooperating.

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