TheStrategyLab.com Price Action Trading Support Forum

Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, this public trade journal contains useful trading tips a few times per week to encourage readers to return for more information and to help ensure I myself don't forget the importance of basic concepts within my own trading plan. Further, there are market summaries from Youtube Bloomberg, CNNMoney and Yahoo Finance as a quick archive of what happened in the markets on a particular day of trading. Thus, if you're looking for trading tips and market summaries that can improve your trading and/or understanding of what happen on a particular day that involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=78&t=615

click on the below image to view normal size

Trade Performance for Today: +2.70 points or $270 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures.
1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.

FYI - You can ask me questions here at the forum or you can tweet me on twitter about any thing related to today's trading or related to your own trading.

@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body analysis).

WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=119. However, you must join the TSL Support Forum to access the free study guide. To register...click here.

Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm

Daily Trade Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=121&t=761

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Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries.

Stocks fall on European bank woes

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By Annalyn Censky, staff reporter
September 7, 2010: 4:47 PM ET

NEW YORK (CNNMoney.com) -- U.S. stocks fell Tuesday as renewed worries about European banks weighed on financial stocks and investors flocked to such safe-haven assets such as the dollar, Treasurys and gold.

All three indexes fell about 1%. The Dow Jones industrial average (INDU) fell 107 points to 10,341, the S&P 500 (SPX) slipped 13 points to close at 1,092 and the Nasdaq (COMP) lost 25 points to 2,209, according to early tallies.

During last week's stock rally, the Dow turned positive for the year. But Tuesday's losses quickly turned the index back into the red.

On Friday, the major indexes gained more than 1%, after a government report showed fewer jobs were lost in July than economists had expected. U.S. markets were closed Monday for Labor Day.

"We're in September, which is traditionally a softer month for stocks, and so far we've escaped that," said Peter Cardillo, chief market economist for Avalon Partners. "But lingering worries won't diminish until we get more indicators that show the decline in economic activity is leveling off and beginning to turn around again."

* Bank stress socks Europe

Economy: Fears that European banks may be in worse shape than indicated by recent financial stress tests spooked investors, said Anthony Conroy, head trader at BNY ConvergEx Group.

"Investors are questioning the shape of the banks, because reports are saying that their sovereign debt holdings are weaker than previously thought," he said. "People see this news coming out and begin to worry more about a possible double-dip [recession], because you can't have a healthy economy without healthy financials."

The renewed worries came after an analysis in Tuesday's Wall Street Journal that said Europe's stress tests -- aimed at measuring the health of the continent's financial sector -- understated major banks' holdings of government debt.

Financial stocks sank after the report, with American Express (AXP, Fortune 500) leading the way with nearly 4% losses and Citigroup (C, Fortune 500) and JP Morgan Chase (JPM, Fortune 500) both falling more than 2%. Shares of Bank of America (BAC, Fortune 500) also fell 2%.
0:00 /2:32Obama's $300 billion New Deal

President Obama will introduce a new $200 billion tax cut on Wednesday that will allow businesses to write off all new investments in equipment made between now and the end of 2011.

A reading on hiring from employment firm Manpower showed that employers are likely to remain reluctant to boost hiring in the fourth quarter.
Is Mark Hurd really worth $6 billion to Oracle?

Companies: Shares of Oracle (ORCL, Fortune 500) gained 6% after the business software maker said it has hired former Hewlett-Packard (HPQ, Fortune 500) CEO Mark Hurd as its president. Later in the day, HP filed suit to block Hurd from the taking the job.

Meanwhile, Barclays (BCS) shares sank 5.4% after the British bank announced its CEO John Varley will retire March 31. Bob Diamond, the bank's U.S.-born president and investment banking chief, will replace Varley.

World markets: European shares dipped. The CAC 40 in France tumbled 1.1%, the DAX in Germany fell 0.6%, and Britain's FTSE 100 lost 0.6%.

Asian markets ended mixed. Japan's benchmark Nikkei index dropped 0.8%, while the Shanghai Composite edged up 0.1% and the Hang Seng in Hong Kong gained 0.2%.

Currencies and commodities: Gold for December delivery rose $8.20 to settle at $1,259.30 an ounce, after surging to a two-month high of $1,261.60 earlier in the day. Oil futures for October delivery dropped 51 cents to settle at $74.09 a barrel.

Bonds: The reignited eurozone fears also spurred investors to buy U.S. Treasurys, sending prices higher and yields lower. The yield on the 10-year Treasury note fell to 2.61% from 2.71% late Friday.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
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