Post subject: February 8th Tuesday 2011 Emini TF ($TF_F) points +15.10
Posted: Tue Feb 08, 2011 5:04 pm
Site Admin
Joined: Sat Jan 10, 2009 2:06 pm Posts: 4342 Location: Canada
Trade Results of M.A. Perry Trader and Founder of WRB Analysis (wide range body/bar analysis) Price Action Trading (no technical indicators)
Attachment:
020811-wrbtrader-PnL-Blotter-Profit.png [ 86.78 KiB | Viewed 385 times ]
click on the above image to view today's trading summary
Quote:
I didn't want a repeat of yesterday even though I was more busy today with personal things involving my tax preparation paperwork. Thus, the only two trades I did today were profitable and via the trading plan of the Volatility Trading Report (VTR). If you have any questions about my trading, want more details about the trade signal behind a particular trade or want to reply about something stated in this message post...click here.
Trade Performance for Today: +15.10 points or $1510.00 dollars in the Russell 2000 Emini TF ($TF_F) Futures. Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE. S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.
In addition, today's #FuturesTrades trading chat room logs provides details about each trade from entry to exit along with commentary as the trade traversed...all archived @http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=87&t=751. However, be advised that I'm frequently testing new trade signal methods or new trade management rules (e.g. stop/loss, trailing stops, profit targets, order types, time frames, workstation templates et cetera) after entry of existing profitable trade signal methods whenever market conditions change. Thus, adapting is a critical variable to my consistent profits along with preventing me from becoming complacent in my trading...this helps avoid trading account drawdowns.
Also, posted below are direct links to information about my trade methodology and trading plan (there's a difference between the two) 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/bar analysis).
The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED actions, global economics that had an impact on today's price action. Simply, I'm a strong believer that many variables causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis.
020811-Key-Price-Action-Markets.png [ 195.75 KiB | Viewed 340 times ]
click on the above image to view today's price action of key markets
By Ken Sweet, contributing writer February 8, 2011: 4:43 PM ET
NEW YORK (CNNMoney) -- U.S. stocks posted another day of solid gains Tuesday, with the Dow Jones industrial average climbing for the seventh straight day, as traders cheered news in the consumer sector and looked past China's latest interest rate hike.
The Dow Jones industrial average (INDU) gained 72 points, or 0.6%; to 12,233, the S&P 500 (SPX) rose 5.2 points, or 0.4%, to 1,324.6 and the Nasdaq (COMP) composite advanced 13 points, or 0.5%, to 2,797.
The blue chips were led higher by shares of McDonald's (MCD, Fortune 500), which climbed 2.6% after the fast food giant reported better-than-expected January same-store sales. Other consumer discretionary names in the S&P 500 posted solid gains including Urban Outfitters (URBN), Family Dollar (FDO, Fortune 500) and JCPenney (JCP, Fortune 500) among others.
The Dow's 70-point gain came despite the People's Bank of China announcement early Tuesday that it would raise bank's borrowing and lending rates by a quarter percentage point. The move, the bank's third since October, comes as Chinese policymakers look to gradually cool the world's second-largest economy without halting growth.
"The China rate hike wasn't a surprise, but it shows that they're being proactive about curbing inflation," said Frank Davis, director of sales and trading at LEK Securities.
Outside of the China news, traders had little to act upon. Without any major negative news, traders said stocks will probably continue to float slowly higher. The Dow has been up six of the last seven sessions and 10 of the last 12 sessions.
"There's been this general optimism pushing the market right now that has been difficult to overcome," said Marc Pado, chief market strategist for Cantor Fitzgerald. "Retail investors are coming back, money is returning from overseas and it's frustrating investors who've wanted to short this market."
Investors started the week in high spirits Monday, as several major mergers pushed the Dow Jones industrial average (INDU) up for a sixth day in a row. The 30-stock index closed up 69 points, or 0.6%.
The deals of the day included AOL's (AOL) acquisition of news blog The Huffington Post for $315 million, and a merger between oil drillers Ensco (ESV) and Pride International (PDE). 0:00 /00:57Shopping spree for retail stocks
Companies: Toyota shares advanced 4% after a 10-month U.S. government probe found no electronic flaws in the automaker's safety systems, which were blamed for unintended acceleration in Toyota cars and trucks.
Toyota also issued an upbeat financial forecast with three months left in its fiscal year.
Avon Products (AVP, Fortune 500) shares fell 3% after the company reported a 15% decline in quarterly earnings, missing estimates.
Kindred Healthcare (KND, Fortune 500) shares jumped more than 28% after it received a $900 million buyout offer from competitor RehabCare Group (RHB).
Walt Disney (DIS, Fortune 500) shares rose 4% in after-market trading after the media giant reported adjusted earnings of 68 cents a share, well above analysts' estimates.
World markets: European stocks closed higher. Britain's FTSE 100 rose 0.7, France's CAC 40 added 0.4% and the DAX in Germany ticked up 0.5%.
Asian markets ended mixed. Japan's Nikkei rose 0.4%, while the Heng Seng in Hong Kong fell 0.3%. Shanghai was closed one more day for the lunar new year holiday.
Currencies and commodities: The dollar fell against the euro, but gained versus the British pound and Japanese yen.
Oil for March delivery closed down 54 cents to $89.94 a barrel.
Gold futures for April delivery rose $15.90 to $1,364.10 a troy ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.66% from 3.65% from Monday.
The U.S. government auctioned $32 billion in 3-year notes, which received mixed demand from investors. The notes auctioned at a yield of 1.349%, slightly higher than expected.
4:30 pm : Stocks started the session without much direction, but they gradually chopped their way higher to settle with solid gains at their best levels in more than two years.
Early participants were hesitant to buy, but given the stock market's uptrend many were also unwilling to sell. In turn, only a modest reaction was made to news that China added 25 basis points to its one-year deposit rate and lending rate, even though there is concern that higher rates in China could curtail the country's ability to drive a global economic recovery.
It took a while to get things going, but stocks eventually staged a gradual climb. The effort was broad based in that only energy stocks (-0.5%) and utilities stocks (-0.1%) failed to find higher ground.
Consumer discretionary stocks scored the strongest gains. As a group they advanced 1.2%. Retailers led the way with a 1.5% gain.
McDonald's (MCD 75.36, +1.91) was a leader among blue chips. The stock pulled back a bit when it failed to push past its 50-day average, but it still scored its strongest single-session gain in nine months amid news of a 5.3% increase in January global sales.
It mattered little to the broader market, but the latest round of earnings was largely lackluster. Teva (TEVA 52.02, -2.96) reported worse-than-expected results, which overshadowed news that it has hiked its quarterly dividend by 14%. Avon Products (AVP 28.47, -0.88), Beazer Homes (BZH 5.59, +0.14), and Principal Financial Group (PFG 32.24, -1.46) both posted disappointing results, too. Coventry Health Care (CVH 29.78, -1.56) posted an upside surprise, but issued downside guidance. Becton Dickinson (BDX 81.03, -4.61) had a better-than-expected bottom line, but its top line was lighter than what had been widely expected.
An absence of trading catalysts made for moderate share volume. In turn, the share tally on the NYSE came in at an unimpressive 885 million. That makes for the lowest total of 2011 and the fifth straight session in which trading volume has failed to eclipse 1 billion shares on the Big Board.
Treasuries resumed their descent by selling off in the wake of the latest 3-year Note auction. The auction produced a bid-to-cover of 3.01 and dollar demand of $96.3 billion. The indirect bidder participation rate came in at 27.6%. Selling sent the yield on the benchmark 10-year Note comfortably above 3.70% for the first time since May.
3:30 pm : Commodities finished mixed yet again. Soft commodities (-1.2%) led all decliners, weighed on by a 4.1% sell off in May sugar prices. Precious metals (+2.1%) led all advancers, helped by a 3.1% rally in silver.
March silver rallied for 3.1% to close at $30.27 per ounce, trading to its best levels in over a month. April gold gained 1.2% to settle at $1364.10 per ounce, trading to its best levels, at $1368.70, in over two weeks. Both metals rallied on the heels of news that China is once again tightening. That news, while not surprising, stoked concerns about inflation.
It was a volatile session for March crude oil, which finished off 0.6% to $86.94 per barrel. Crude dropped earlier this morning after news broke of the Chinese rate hike. It managed to recoup those losses heading into the afternoon following reports that service workers from the Suez Canal were striking in protest to the Mubarak govt. Prices momentarily traded back above the $88 level before further reports indicated that the workers, while on strike, had nothing to do with canal traffic. As such, prices retraced the earlier bounce and crude oil closed in negative territory. March natural gas ended lower by 1.6% to $4.04 per MMBtu, marking its fourth consecutive decline.DJ30 +67.13 NASDAQ +8.17 SP500 +4.36 NASDAQ Adv/Vol/Dec 1298/1.5 bln/1308 NYSE Adv/Vol/Dec 1687/631.3 mln/1260
3:00 pm : Stocks recently set fresh session highs, but they have started to pull back. Consumer discretionary stocks remain in strong shape, though; the sector is up 0.9%. Financials follow with a 0.6% gain.
Energy stocks have moved deeper into the red so that they now trade with a 1.0% loss. The sector is still up from its session low, however.
Treasuries have come under increased pressure in recent trade. That has caused the yield on the benchmark 10-year Note to push past 3.70% for the first time since May. DJ30 +50.78 NASDAQ +5.68 SP500 +2.63 NASDAQ Adv/Vol/Dec 1273/1.34 bln/1332 NYSE Adv/Vol/Dec 1625/575 mln/1295
2:30 pm : The Dow has stretched to a fresh session high. Its counterparts are attempting to do the same.
There hasn't been any data to digest today, but Dallas Fed President Fisher spoke this afternoon. Among other things, he stated that barring some unexpected shock to the economy or financial system, the envelope is being pushed with regard to the current round of Treasury purchases. Fisher noted that he would be wary of further expanding the Fed's balance sheet. He added that it is hard to envision a scenario where he would not dissent to another tranche of monetary accommodation. It should be noted, though, that no such tranche has been recommended. DJ30 +57.67 NASDAQ +6.44 SP500 +3.73 NASDAQ Adv/Vol/Dec 1223/1.22 bln/1366 NYSE Adv/Vol/Dec 1610/528 mln/1320
2:00 pm : Although stocks continue to chop along narrowly above the neutral line, the overall tone of trade remains broadly positive. As such, only energy (-0.8%) and utilities (-0.2%) are in the red.
Retailers are exceptionally strong. The group has put together a 1.0% gain. Gap (GPS 20.79, +0.45) is a leader in the group. Urban Outfitters (URBN 36.80, +1.69) is also up sharply. DJ30 +43.59 NASDAQ +2.47 SP500 +2.28 NASDAQ Adv/Vol/Dec 1116/1.11 bln/1458 NYSE Adv/Vol/Dec 1504/485 mln/1417
1:30 pm : Treasuries have sold off in the wake of a disappointing auction of 3-year Notes. That has their yields at session highs.
According to results, the latest 3-year Note auction produced a bid-to-cover of 3.01 and dollar demand of $96.3 billion. The indirect bidder participation rate came in at 27.6%. For comparison, the prior auction had a bid-to-cover ratio of 3.06, dollar demand of $97.9 billion, and an indirect bidder participation rate of 39.4%. An average of the four past auctions results in a bid-to-cover of 3.05, dollar demand of $97.4 billion, and indirect bidder participation of 35.0%.DJ30 +36.40 NASDAQ +2.23 SP500 +1.71 NASDAQ Adv/Vol/Dec 1083/1.02 bln/1463 NYSE Adv/Vol/Dec 1481/450 mln/1425
1:00 pm : Action has been choppy all session, but stocks have still managed to muster modest gains.
A lack of data, uninspiring earnings, and news that China added 25 basis points to its one-year deposit and lending rate left stocks to trade with little direction in the early going. Though there is concern that higher rates in China could curtail the country's ability to drive a global economic recovery, the announcement failed to spur any kind of concerted selling effort at the major global averages. It should be noted, though, that the announcement was made after markets in Asia had closed.
Despite the lackluster start, the major equity averages are now positive. McDonald's (MCD 75.66, +2.21) has been one of this session's best performers following news of a 5.3% increase in January global sales.
Financials have rebounded from an early dip to a 0.6% gain. However, Principal Financial Group (PFG 32.40, -1.30) is on pace for its poorest performance in more than two months following an earnings miss. The stock had been down even more, but it attracted support upon coming into touch with its 50-day moving average.
Energy stocks have been lagging all session. The sector is still down 0.6% as oil and gas equipment plays (-1.5%) lose support. Oil prices have oscillated throughout the session; unable to sustain a recent rebound, oil prices are back down to a 0.4% loss at $87.10 per barrel.
The dollar is having its worst performance in a week. It is currently down 0.4% against competing currencies.
Moderate pressure has kept Treasuries narrowly lower today. Results from an auction of 3-year Notes are due at any moment. DJ30 +40.41 NASDAQ +4.02 SP500 +2.83 NASDAQ Adv/Vol/Dec 1168/932 mln/1362 NYSE Adv/Vol/Dec 1589/415 mln/1322
12:30 pm : The dollar had been working its way toward the neutral line from a morning loss earlier today, but pressure has resumed to take it down to a 0.5% loss against competing currencies. Most of the dollar's decline has come against the euro, which is up 0.7% to $1.367. The yen is also stronger; it is up 0.5% to 81.92 yen per dollar.
Treasuries have had a quiet session, so far, but lingering weakness has the benchmark 10-year Note down narrowly for once again. Coming up at 1:00 PM ET are results from an auction of 3-year Notes. DJ30 +44.73 NASDAQ +4.41 SP500 +3.47 NASDAQ Adv/Vol/Dec 1166/850 mln/1345 NYSE Adv/Vol/Dec 1587/380 mln/1288
12:00 pm : Though its overall gain is modest, the Dow continues to outperform its counterparts. McDonald's (MCD 75.69, +2.24) remains a leader among blue chips following its monthly sales report. Strength in MCD this session has the stock at a one-month high.
Other quick service restaurant stocks have made varied moves in the wake of the McDonald's report. For instance, Wendy's Arby's Group (WEN 4.99, -0.05) is down 1%, but Yum! Brands (YUM 49.78, +0.38) and Jack in the Box (JACK 22.87, +0.20) are both up almost 1%. DJ30 +38.41 NASDAQ +3.77 SP500 +3.13 NASDAQ Adv/Vol/Dec 1130/770 mln/1359 NYSE Adv/Vol/Dec 1578/344 mln/1280
11:30 am : Despite oil's rebound to a 0.2% gain at $87.65 per barrel, energy stocks remain under relatively stiff pressure. Energy's 0.7% loss makes it this session's weakest sector.
Exploration plays Halliburton (HAL 44.25, -1.93), Baker Hughes (BHI 67.07, -1.40), and Schlumberger (SLB 88.17, -1.58) are still among the energy sector's poorest performers. However, integrated plays Chevron (CVX 97.95, +0.29) and BP Plc (BP 46.80, +0.26) have managed to attract modest support in the face of the broader energy sector's slide. DJ30 +34.93 NASDAQ -0.01 SP500 +2.23 NASDAQ Adv/Vol/Dec 1055/674 mln/1414 NYSE Adv/Vol/Dec 1492/300 mln/1361
11:00 am : The headline equity averages are stuck in a fit of choppy trade, but financials have made a strong swing to higher ground in recent action. Financials had been down markedly in the early going, but the sector is now up 0.6%, which puts it comfortably out in front of the broader market.
Within the financial sector, AIG (AIG 42.86, +0.70) shares got a recent lift from news that the company will delay its planned secondary offering.
Principal Financial Group (PFG 32.51, -1.19) has had a hard time attracting support, however. The firm posted an earnings miss for its latest quarter.DJ30 +25.16 NASDAQ -0.57 SP500 +1.59 NASDAQ Adv/Vol/Dec 948/555 mln/1462 NYSE Adv/Vol/Dec 1362/250 mln/1483
10:30 am : The tone of trade surrounding both stocks and commodities has improved in recent action. In turn, the major equity averages are now at fresh session highs while the CRB Commodity Index is down 0.2% after it had been down as much as 0.7% earlier this morning.
A rebound by oil prices has helped bolster the CRB. Oil prices were as low as $85.88 per barrel overnight, but they are now unchanged at $87.50 per barrel. In contrast, natural gas prices have reversed an early gain to trade with a 0.7% loss at $4.08 per MMBtu.
Precious metals are putting together an impressive performance. Specifically, gold prices are up 1.2% to $1363.90 per ounce while silver prices are up an even stronger 2.0% to $29.95 per ounce. Silver is currently the top performer by percent gained in the CRB.
Trade around some of the sharpest swingers of recent sessions has tightened things in a bit today. For example, cotton futures are up 0.6% this session. DJ30 +22.36 NASDAQ +2.84 SP500 +1.92 NASDAQ Adv/Vol/Dec 1070/435 mln/1305 NYSE Adv/Vol/Dec 1469/195 mln/1297
10:00 am : The broad market has recovered from a slip at the open, but it has taken pause near the neutral line. Meanwhile, the Dow has pushed into positive territory with help from McDonald's (MCD 75.45, +2.00) after the company reported this morning that its global sales during January gained 5.3%. The geographic mix that drove that number included a 3.1 increase in U.S. sales, a 7.0% increase in Europe, and a 5.2% increase in the Asia, Middle East, and Africa region.
09:45 am : Energy stocks are down 1.1% to trade as early laggards. Oil and gas equipment plays and drillers, respectively down 2.2% and 1.4%, are two of the worst performing segments of the sector. Weakness therein has undercut the broader market.
There isn't much of a positive force this morning. Consumer discretionary stocks are in the best shape as they sport a gain of almost 0.3%. Most of that is owed to casino and gaming plays like Wynn Resorts (WYNN 121.02, +3.01), which made a nice gap up to trade at a three-year high. DJ30 -1.65 NASDAQ -2.81 SP500 -1.57 NASDAQ Adv/Vol/Dec 832/185 mln/1396 NYSE Adv/Vol/Dec 1097/98 mln/1535
09:15 am : S&P futures vs fair value: +0.10. Nasdaq futures vs fair value: -2.20. Stock futures suggest that the major equity averages will open flat after they advanced to two-year highs in the prior session. Headlines haven't done anything to foster further buying interest today -- earnings have been unimpressive and no data have been posted. The biggest announcement has been China's decision to tack on 25 basis points to one-year borrowing and lending rates. Though the announcement wasn't really a surprise, it stirred some modest selling interest since it acts as a reminder that higher rates in China could curtail its ability to drive a global economic recovery. Still, any negativity pertaining to the announcement has been held in check.
09:05 am : S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: -3.50. The CRB Commodity Index is down 0.4% this morning. That puts it on track for its fourth straight slide since registering a two-year high last week. Oil has been the heaviest drag on the CRB this morning; it is currently down 1.3% to $86.30 per barrel. Natural gas has stabilized since its slide yesterday; the commodity is currently up 0.2% to $4.11 per MMBtu. Gold and silver prices are up 1.0% to $1361.40 per ounce and $29.64 per ounce, respectively.
08:35 am : S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: -2.50. Futures for the S&P 500 are still flat. Germany's DAX is currently up 0.2%. Automakers BMW, Daimler (DAI), and Volkswagen are showing strength while materials issues, down 1.3%, trade with weakness. France's CAC is flat. ArcelorMittal (MT) is out in front with a gain of more than 3%, which comes on top of a gain of more than 2% in the prior session. The stock is now at its highest level in eight months. Britain's FTSE is off by 0.2%. Metal and mining plays like Anglo American, BHP Billiton (BHP), and Xstrata have been heavy drags. AstraZeneca (AZN) and HSBC (HBC) have shown strength, however. Each of the three major bourses is off of its session high. The collective pullback coincided with the release of news that China's central bank raised one-year rates, although that is of little real surprise.
The People's Bank of China added 25 basis points to its one-year deposit rate and one-year lending rate last night, after Asia's major averages had already closed for trade. Hong Kong's Hang Seng shed 0.3%. Tencent Holdings, CNOOC (CEO), and Cheung Kong were heavy drags, which more than offset strength in HSBC, China Petroleum (SNP), and PetroChina (PTR). Japan's Nikkei put together a 0.4% gain, which took it to a six-month high. KDDI Corp and Honda Motor (HMC) were primary leaders. Nippon Meat Packing was also a leader following its latest earnings. Softbank and Fanuc Corp were weak. Japan Steel Works was also a laggard.
08:05 am : S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -3.70. Stock futures are essentially flat at the moment. Earnings news has been uninspiring -- Teva (TEVA), Avon Products (AVP), Principal Financial (PFG), and Beazer Homes (BZH) all came short of respective consensus earnings estimates. Overseas action has done little to offer direction to premarket participants. Europe's bourses are mixed, as were Asia's averages in overnight trade. China's Shanghai Composite remains closed for holiday observance, but the People's Bank of China added 25 basis points to its one-year deposit rate and one-year lending rate. The dollar is down 0.3% against a collection of competing currencies this morning. Yesterday it finished flat after three straight gains. Treasuries currently trade near the neutral line after a mixed finish to the prior session. Results from an auction of 3-year Notes are due at 1:00 PM ET.
06:56 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: -0.70.
06:56 am : Nikkei...10635.98...+43.90...+0.40%. Hang Seng...23484.30...-69.30...-0.30%.
06:56 am : FTSE...6039.87...-11.20...-0.20%. DAX...7298.13...+14.50...+0.20%.
Users browsing this forum: No registered users and 1 guest
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot post attachments in this forum
Login
Register
FAQ
Search
@