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Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name wrbtrader. You can review each trade from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=66&t=341



FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything 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 along with being able to exploit the changes in supply/demand.

http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Also, I strongly believe that profitable trading involves more than just trade signals and that's why most traders fail because they put all their efforts in trade signals while ignoring the impact on their trading results via market psychology, trader psychology (trading habits/routine and personal lifestyle). If you don't understand this perspective...please ask questions here at the forum for more info or you can tweet me on twitter @wrbtrader.

My Trading Performance: +19.75 Emini ES ($ES_F) points


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Dow 10,000: Stocks At One-Year Highs
Wall Street recharges the rally as investors gear up for a big week for corporate results. Apple delivers strong results after the close.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: October 19, 2009: 6:28 PM ET

NEW YORK (CNNMoney.com) -- The Dow reclaimed 10,000 on Monday, hitting its highest point in over a year, as a weak dollar, higher commodity prices and some earnings optimism fired up a broad market advance.

The Dow Jones industrial average (INDU) rose 96 points, or 1%, ending at 10092.19. That was its highest close since Oct. 3, 2008, when it closed at 10,325.38.

The S&P 500 (SPX) index gained 10 points, or 0.9%, to close at 1097.90, ending at its highest point since Oct. 2, 2008.

The Nasdaq composite (COMP) advanced 19 points, or 0.9%, and closed at its highest point since Sept. 26, 2008.

"This is a liquidity driven rally and the market is probably going to keep moving higher over the next few weeks," said Tyler Vernon, chief investment officer at Biltmore Capital.

"People are feeling optimistic," he said. "They're getting sick of getting zero percent returns on money market accounts and are wanting to take on more risk."

After the close Apple (AAPL, Fortune 500) reported fiscal fourth-quarter revenue and earnings that easily beat Wall Street analysts' estimates, thanks to strong sales of Macintosh computers and iPhones. Shares surged as much as 9% in extended-hours trading, hitting an all-time high of $204 per share, before pulling back to trade at $202.19.

Apple's forecast for the current quarter sets revenue in a range between $11.3 billion to $11.6 billion, encompassing the $11.4 billion analysts are predicting. Apple also predicted earnings per share of between $1.70 and $1.78 versus the $1.91 analysts' predict.

Texas Instruments (TXN, Fortune 500) also reported results after the close. The chipmaker reported weaker quarterly earnings and revenue that topped estimates. Shares gained 3% in after-hours trading.

Stocks have been essentially on the rise for more than seven months. Since closing at a more than 12-year low on March 9, the S&P 500 has gained 62.3% as of Monday's close.

Monday's market: Gains were broad-based Monday, with 25 of 30 Dow issues rising, led by 3M (MMM, Fortune 500), American Express (AXP, Fortune 500), Chevron (CVX, Fortune 500), Caterpillar (CAT, Fortune 500), United Technologies (UTX, Fortune 500), Wal-Mart Stores (WMT, Fortune 500), Exxon Mobil (XOM, Fortune 500) and IBM (IBM, Fortune 500).

Wall Street advanced last week after Goldman Sachs (GS, Fortune 500), Intel (INTC, Fortune 500), Google (GOOG, Fortune 500) and others reported better-than-expected quarterly results, raising bets that profits are starting to recover along with the economy. That perception helped the Dow push past the 10,000 level, a key psychological point.

However, Bank of America (BAC, Fortune 500)'s big quarterly loss and General Electric (GE, Fortune 500)'s weaker revenue, both reported Friday, reminded investors that any profit recovery is going to be choppy.

Results: About 135 companies, or 27% of the S&P 500, will report results this week, including 13 Dow components. The standouts are: American Express, 3M, Microsoft (MSFT, Fortune 500), Merck (MRK, Fortune 500), Pfizer (PFE, Fortune 500), and Coca-Cola (KO, Fortune 500). Other big names due to report include: Yahoo (YHOO, Fortune 500), Wells Fargo (WFC, Fortune 500), Amazon.com (AMZN, Fortune 500) and eBay (EBAY, Fortune 500).

Earnings have been beating forecasts around 79% of the time, while revenues have been topping expectations around 61% of the time, according to Thomson Reuters.

S&P 500 earnings are expected to have fallen around 23% in the third quarter from a year ago, according to the latest from earnings tracker Thomson Reuters.

That would make the third quarter the ninth consecutive loser for the S&P 500, the worst streak since Thomson began tracking results a decade ago.

World markets: Global markets were mixed. In Europe, London's FTSE 100 rose 1.8%, France's CAC 40 added 1.7% and Germany's DAX gained 1.9%. Asian markets ended mixed, with the Hong Kong Hang Seng lower and the Japanese Nikkei higher.

Bonds: Treasury prices gained, lowering the yield on the 10-year note to 3.38% from 3.41% late Friday. Treasury prices and yields move in opposite directions.

Prices were volatile after the latest government debt auctions saw strong demand. Treasury sold $30 billion in 3-month bills and $30 billion in 6-month bills.

Currency and commodities: The dollar tumbled versus the euro and the yen, resuming its recent slide versus a basket of currencies.

U.S. light crude oil for November delivery rose $1.08 to settle at $79.61 a barrel on the New York Mercantile Exchange, after ending the previous session at the highest level in a year.

COMEX gold for December delivery rose $6.50 to settle at $1,058.10 an ounce. Gold has surpassed records repeatedly this month due to the weak dollar and longer-term worries about inflation.

Market breadth was positive and trading volume was fairly light. On the New York Stock Exchange, winners beat losers seven to three on volume of 1.08 billion shares. On the Nasdaq, advancers topped decliners eight to five on volume of 1.99 billion shares.



Yahoo! Finance

4:15 pm : Broad-based buying helped stocks bounce back from a dip at the open to log fresh highs for 2009, but the S&P 500 met resistance when it hit the 1100 mark, which was last seen just over one year ago.

Strong gains in overseas markets helped set a positive tone for participants in the early going, but weakness in the financial sector quickly undercut the broader market's opening gain. Regional banks (-1.7%) were the primary source of weakness for the financial sector. Their losses came after BB&T (BBT 27.03, -1.22) unveiled its latest quarterly results, which actually featured better-than-expected earnings of $0.23 per share. However, the regional lender also reported a sharp year-over-year rise in loss provisions and couldn't confirm whether its charge-offs have peaked.

Though stocks stumbled in early trade as a result of weakness among financial issues, it didn't take long for participants to step in and bid stocks higher. Ensuing gains were strong and broad-based and pushed all three major indices to new highs for the year.

Stocks in the S&P 500 weren't able to push through the psychologically significant 1100 level, but they didn't roll over after being rebuffed, either. Some of the best gains were had by consumer discretionary stocks and materials stocks. Both advanced 1.4%.

Gains by the consumer discretionary sector came even though Hasbro (HAS 28.42, -1.10) traded as a laggard. Shares of the company were sold off after the stock had pushed considerably higher in the sessions leading up to this morning's earnings report, which featured an upside earnings surprise.

Meanwhile, materials stocks benefited from both broader market interest and higher commodity prices, which sent the CRB Commodity Index to a fresh high for the year.

A weaker dollar proved beneficial for both commodities and stocks this session. The greenback shed 0.3% against a basket of major foreign currencies this session. That has left the Dollar Index fractionally above its 12-month lows.

Trading volume was unimpressive this session. Hardly 1 billion shares traded hands on the NYSE. Recent averages stand above 1.2 billion shares.

Advancing Sectors: Utilities (+1.5%), Materials (+1.4%), Discretionary (+1.4%), Energy (+1.2%), Health Care (+1.0%), Tech (+1.0%), Consumer Industrials (+0.9%), Telecom (+0.8%), Consumer Staples (+0.5%), Financials (+0.5%)
Declining Sectors: (None)DJ30 +96.28 NASDAQ +19.52 NQ100 +1.0% R2K +1.0% SP400 +1.1% SP500 +10.23 NASDAQ Adv/Vol/Dec 1715/1.97 bln/943 NYSE Adv/Vol/Dec 2240/1.08 bln/799

3:35 pm : Stocks are trading near their session (and 2009) highs. The S&P 500 is maintaining its tight afternoon range after fading at the 1100 psychological level. The CRB commodity index also hit a 2009 high today, as the dollar flirted with its 52 week lows, set last week.

As the dollar slid throughout the session, precious metals rose, concurrently. They finished 1.3% higher, collectively. Both precious metals finished the pit trade near session highs. December gold futures rose 0.6% to close at $1058.20 per ounce. December silver futures rose 1.3% to close at $17.64 per ounce.

Energy commodities closed with a more modest gain of 0.6%, collectively. November crude oil futures rallied toward the $80 level just prior to the close, after trading nearly unchanged for most of the session. They closed up 1.2% at $79.44 per barrel. November natural gas futures closed up 1.0% at $4.84 per contract. DJ30 +95.68 NASDAQ +17.37 SP500 +9.90 NASDAQ Adv/Vol/Dec 1676/1.62 bln/994 NYSE Adv/Vol/Dec 2202/795 mln/826

3:00 pm : Heading into the final hour of trade, Caterpillar (CAT 57.48, +2.91) is the best performing Dow component by percent gained this session. The company is expected to release its latest quarterly results tomorrow morning before the opening bell.

At the other end of the things, General Electric (GE 15.94, -0.14) is the worst performing Dow component by percent lost this session. GE reported its latest quarterly results last week. The company beat earnings expectations, but the stock has struggled for the last three sessions.DJ30 +111.09 NASDAQ +19.60 SP500 +11.68 NASDAQ Adv/Vol/Dec 1713/1.46 bln/940 NYSE Adv/Vol/Dec 2247/717 mln/761

2:30 pm : The S&P 500 has twice tried to lift its recent trading range beyond the 1100 level, but it has been rebuffed on both occasions. Still, stocks haven't pulled back much since being resisted, leaving stocks to continue sporting impressive gains.

Even defensive-oriented stocks are making headway. Consumer staples, health care, and telecom are each up 0.9%.DJ30 +118.35 NASDAQ +19.52 SP500 +12.10 NASDAQ Adv/Vol/Dec 1719/1.35 bln/928 NYSE Adv/Vol/Dec 2282/660 mln/721

2:00 pm : The major indices remain confined to a narrow trading range, which has kept the S&P 500 between 1097 and 1100 for the past two hours. The broad-market index did briefly make a small, sudden move higher to set the upper limit of that range, but it has since returned to earlier levels. DJ30 +108.07 NASDAQ +18.48 SP500 +11.09 NASDAQ Adv/Vol/Dec 1692/1.23 bln/932 NYSE Adv/Vol/Dec 2247/606 mln/738

1:30 pm : Since hitting fresh highs for the year, the major stock indices continue to drift sideways in a narrow trading range.

Commodities are also sporting strong gains, such that the CRB Commodity Index is up 1.0% to fresh 2009 highs of its own. The ascent comes as oil prices tick 0.2% higher to $78.70 per barrel and gold prices climb 0.6% to $1057.00 per ounce.DJ30 +103.23 NASDAQ +18.02 SP500 +10.09 NASDAQ Adv/Vol/Dec 1695/1.14 bln/916 NYSE Adv/Vol/Dec 2240/556 mln/746

1:00 pm : A solid start at the hands of strong overseas gains and a modestly weaker dollar came under pressure as financial stocks faltered, but support from buyers has since sent stocks to fresh highs for the year.

News that China now expects economic growth to exceed 8% for 2009 helped the Shanghai Composite climb 2.1% and Hong Kong's Hang Seng settle 1.2% higher. The heady gains inspired buying in Europe, which saw its three primary indices close with gains between 1.7% and 1.9%.

Positive overseas vibes gave an early lift to U.S. stocks, which were also getting help from a weaker greenback. The Dollar Index is currently down 0.3% to trade near its 12-month lows.

Stocks did fall under a fit of pressure in the first few minutes of trade, however. The slip came about as financials reversed direction into negative territory. Their retreat was led by BB&T (BBT 27.06, -1.20), which actually posted this morning better-than-expected earnings. Many participants have been selling the news of positive earnings surprises from financial outfits ever since Goldman Sachs (GS 186.23, +1.86) beat expectations last week.

Despite the early slip, strong buying has ensued. Gains have been broad based and even the financial sector has made its way out of negative ground to a 0.8% gain. The best gains are coming from the consumer discretionary sector (+1.5%). However, Hasbro (HAS 28.54, -0.98) is a laggard in the group. The company topped earnings expectations this morning, but is pulling back considerably after making a strong run up in the days leading up to the report.

Earnings announcements pick up this evening when Apple (AAPL 188.97, +0.92) and Texas Instruments (TXN 23.29, +0.54) report their latest quarterly results. The pair is atop a list of more than 400 companies that are confirmed to release quarterly results this week. DJ30 +101.80 NASDAQ +19.17 SP500 +10.39 NASDAQ Adv/Vol/Dec 1678/1.04 bln/924 NYSE Adv/Vol/Dec 2195/506 mln/750

12:30 pm : Stocks have entered into a rather narrow trading range after successfully setting fresh highs for the year. The steady sideways drift has left the 10 major sectors in the S&P 500 holding on to solid gains and nearly 90% of the listings in the S&P 500 sporting individual gains.DJ30 +103.84 NASDAQ +20.40 SP500 +10.41 NASDAQ Adv/Vol/Dec 1728/943 mln/850 NYSE Adv/Vol/Dec 2253/460 mln/685

12:00 pm : All three major indices are trading at fresh highs for 2009. The advance has generally been broad based, but consumer discretionary stocks are showing the most strength. As a group, consumer discretionary holdings are up 1.7%.

Hasbro (HAS 28.68, -0.84) is one of the few names listed among consumer discretionary stocks to trade with weakness, despite the company's better-than-expected quarterly earnings that were released this morning. Shares of HAS had run up nearly 5% in the week leading up to this morning's report, though.DJ30 +107.92 NASDAQ +21.77 SP500 +10.75 NASDAQ Adv/Vol/Dec 1726/864 mln/841 NYSE Adv/Vol/Dec 2255/426 mln/662

11:30 am : The S&P 500 had been moving sideways after running into resistance at its 2009 highs, which were registered last week. It has since poked through those levels to add fractionally to its 2009 highs.

Meanwhile, the U.S. dollar has slipped deeper into the red. The greenback is now down 0.3% against a basket of major foreign currencies.

In a prepared speech regarding Asia and the global financial crisis, Fed Chairman Bernanke stated that the United States has benefited significantly from Asia's rapid development and integration into the global economy, but the financial crisis has demonstrated the extent to which the fortunes of the United States, Asia, and the rest of the global economy are intertwined.

The speech follows comments from Chinese officials that indicated the Chinese economy would surpass its 8% growth target for 2009.DJ30 +100.14 NASDAQ +15.59 SP500 +9.75 NASDAQ Adv/Vol/Dec 1593/700 mln/926 NYSE Adv/Vol/Dec 2112/360 mln/759

11:00 am : Weakness among financial shares had undercut stocks in the early going, but buyers have since stepped back in to send the major indices markedly higher. In turn, the S&P 500 is coming within close reach of last week's highs, which were also 2009 highs registered between 1096 and 1097, while the Dow has managed to hit fresh highs for the year.

The recent rebound has been broad based, resulting in strong gains for all 10 of the major sectors. Even the financial sector is now up 0.8%. The best gains are being put together by consumer discretionary stocks (+1.1%) and materials stocks (+1.1%), though.DJ30 +86.00 NASDAQ +11.72 SP500 +8.50 NASDAQ Adv/Vol/Dec 1470/571 mln/997 NYSE Adv/Vol/Dec 2012/303 mln/829

10:30 am : Equity markets opened higher and had a volatile morning. In recent activity, the market spiked to fresh highs, while the US Dollar Index remains in negative territory.

November crude oil is trading near the unchanged line after a quiet overnight session, currently up five cents at $78.58 per barrel.

Overnight, natural gas traded near the unchanged line but fell sharply at the open of pit trading, hitting lows of $4.672 per MMBtu. Currently, natural gas is trading 1.7% lower at $4.699 per MMBtu.

The US Dollar Index just moved back into negative territory, pushing precious metals back into pushed territory. December gold is $1.20 higher at $1052.70 per ounce, coming off of new morning lows of $1048.60 per ounce, while December silver is trading four cents higher at $17.46 per ounce.DJ30 +45.87 NASDAQ +3.20 SP500 +4.00 NASDAQ Adv/Vol/Dec 1311/410.2 mln/1074 NYSE Adv/Vol/Dec 1795/221.8 mln/963

10:00 am : Stocks have retreated from their early morning advance so that the S&P 500 and Nasdaq Composite both trade with a fractional loss, while the Dow Jones Industrial Average hovers slightly above the unchanged mark.

Financials have been leading this morning's slide. The sector had started the session with a gain of roughly 0.5%, but it is now 0.2% into the red. BB&T (BBT 26.92, -1.33) is a primary laggard in the sector. The regional lender posted this morning its latest quarterly results. Though there was room for improvement in the report, the regional lender still served up better-than-expected earnings. The pressure in the face of positive earnings surprises reflects the recent tendency of participants to sell the news of better-than-expected earnings from financial outfits.

Early Movers: Trading up -- IPCS +33.1%, ALLI +19.9%, CIT-C +19.1%, AUDC +9.4%, CVBF +8.5%, USEG +8.4%, MPG +7.2%, EROC +6.7%, FMCN +5.9%; Trading down -- IDCC -15.3%, PETS -12.3%, HNSN -8.5%, UTA -8.2%, GMXR -7.9%, LRN -6.3%, ELY -5.2%DJ30 +5.21 NASDAQ -6.29 SP500 -0.54 NASDAQ Adv/Vol/Dec 1163/266 mln/1164 NYSE Adv/Vol/Dec 1365/147 mln/1320

09:45 am : The major stock indices are making modest gains in the early going. Energy stocks are currently the best performers; as a group, they are up 0.5%.

Energy's advance comes even though oil prices are trading with a fractional gain at $78.60 per barrel.

Meanwhile, financial stocks are back under pressure, extending their slide from last week. The sector had been up in the first few minutes of trade, but it is now to limit this morning's loss to just 0.1%.DJ30 +18.89 NASDAQ +2.81 SP500 +1.65 NASDAQ Adv/Vol/Dec 1461/142 mln/804 NYSE Adv/Vol/Dec 1675/94 mln/933

09:15 am : S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +2.00. Solid gains by overseas markets, which were helped along by news that China now expects to surpass its 2009 economic growth forecast, and a modestly weaker dollar have helped to prop up U.S. stock futures this morning. Should that translate into a higher start, it will mark a bounce from the loss that was logged last Friday. A sustainable advance could be telling of market bias since there haven't been any earnings announcements from widely-held companies this morning and the economic calendar is void of events. News does pick up this evening, though. That's when Apple (AAPL) and Texas Instruments (TXN) report their latest quarterly results. Should those announcements prove positive, broader market participants will be watching for further buying or a sell-the-news type of response in order to further assess the mood of the market.

09:00 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +2.50. The Dollar Index recently made its way off of morning lows and came in touch with the unchanged mark, but it encountered resistance there and has since returned to a loss of roughly 0.1%. The dollar's weakness in recent weeks has been a boon for both stocks and commodities. Such is the same this morning as stocks look to start the session on a higher note and commodities sport modest gains in early pit trade. The latter has the CRB Commodity Index up 0.4% at the moment.

08:30 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +2.00. Europe's major indices are making marked gains. Germany's DAX is up 1.3% as its advancing issues outnumber its decliners by nearly 5-to-1. Among the advancers, Deutsche Bank (DB) is a primary leader. In France, the CAC is up 1.2%. Essilor International and Vivendi are the only two components in the 40-member index that are currently trading with losses. According to The Wall Street Journal, Vivendi is in talks to unload its stake in NBC Universal, which is majority owned by General Electric (GE). Meanwhile, Britain's FTSE is up 1.3%. Energy outfits BP PLC (BP) and Royal Dutsch Shell (RDS.A) are its primary leaders. In Asia, the MSCI Asia Pacific Index advanced 0.5%, but Japan's Nikkei closed 0.2% lower. Japan Airlines surged after losing roughly one quarter of its value last week. According to reports, a task force will help keep the company afloat. In addition, the airline is in talks about a possible capital aliance with Delta Airlines (DAL) and AMR (AMR). Banks like Mitsubishi UFJ Financial (MTU) and Mizuho Financial (MFG) also managed to gain. In Hong Kong, the Hang Seng climbed 1.2% amid news that China's third quarter growth probably beat forecasts. Oil companies fared particularly well with CNOOC (CEO) and PetroChina (PTR) showing leadership. Mainland China's Shanghai Composite put together a 2.1% advance to hit a one month closing high. According to officials, the country's GDP grew more than 7% during the first nine months and is on track to surpass forecasts.

08:00 am : S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +4.50. Approximately 400 companies have confirmed that they will announce this week their latest earnings results. The deluge of data starts this morning with an announcement from regional bank BB&T (BBT), which posted better-than-expected third quarter earnings of $0.23 per share. However, amid news that the lender's provisions for credit losses shares climbed sharply from the year before, the stock is down more than 2% to $27.66 per share in premarket action. The number of announcements begins to pick up this evening, when Apple (AAPL), Boston Scientific (BSX), and Texas Instruments (TXN) step to the podium. For now, though, broad-market stock futures are showing relative strength with help from strong overseas gains and a moderately weaker U.S. dollar.

06:25 am : S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +4.80.

06:25 am : Nikkei...10236.51...-21.10...-0.20%. Hang Seng...22200.46...+270.60...+1.20%.

06:25 am : FTSE...5252.93...+62.90...+1.20%. DAX...5813.68...+70.20...+1.20%.

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