NOTICE: WE HAVE CHANGED OUR PHONE NUMBERS.
IF YOU NEED TO CALL US PLEASE USE 877-232-9595
Greetings,
Fridays and Mondays are becoming really great trading days now that there is a whiff of increased volatility (fear) in the air. Yesterday, the market started down on the open and after making fresh new lows a counter trend bounce developed and prices pushed all the way back up to the 1202 area heading into lunch time. Well, the bulls cashed in their chips during lunch after listening to our two faced congressional guardians grand standing over the Goldman debacle. Naturally, the bears smelled blood and moved in for the kill as the market did a really nice swan dive back down to the 1182 area ... an 18 point plunge. We had multiple sell signals on the way down.
MY TRADES ROOM
As you may know, we recently started an afternoon session in the MY TRADES ROOM. So far, Maestro Harry (our room moderator), has really been 'kickin butt' in the afternoons. In fact, many of the trade set ups in the afternoon move further and are more profitable than the morning set ups. We've had two or three days now where a trader taking all trade alerts in both morning and afternoon sessions could have made well over $1,200.00 trading just 3 contracts per signal.
Naturally, there is great risk in trading futures, but having a flight instructor like Harry right there guiding you through every twist and turn makes you a much better trader and dramatically improves your consistency and performance. Once Harry locks into a good set up he'll keep you in the trade until you've squeezed out every last drop of juice on the move. Many times you may be in a trade for 30 to 45 minutes before an exit is triggered. PATIENCE PAYS BIG DIVIDENDS! Especially on the afternoon trades. We are extremely impressed with the performance numbers on the afternoon sessions based on Harry's TRADE ALERTS.
Increased volatility is providing exceptional trading opportunities. If you've been considering signing up for MY TRADES ROOM this is the time to do it.
Visit our website at www.mytradesroom.com
NINJATRADER 7
Based on feedback and other smoke signals we believe that NINJATRADER 7 will be released to the public sometime around the middle of May. Once the public version of 7 is released we will notify you in a newsletter. At that point in time you'll need to re-install the Kwik*POP for NinjaTrader indicators. The reason for the reinstall of Kwik*POP is that we've had to rewrite our indicators to work properly in NinjaTrader 7. There are many new and exciting features in NinjaTrader 7 but please don't use it until the final public release is officially announced.
SIERRA CHARTS
This platform is the dark horse that has been sneaking up closer and closer to the leading platforms over the last 24 months. It is the least expensive platform on the market yet it offers all of the features available in the flagship platforms. They've made some impressive upgrades over the last 24 months. Now there is a way to get FREE futures data on Sierra Charts.
We've started working with Josh Harris at Infinity Futures in Chicago (their link is on our web site). Infinity is a division of Transact Futures, a clearing firm that caters to floor traders and institutional customers. Infinity Futures is their retail division and the Director, Jim Mooney, has authorized Josh Harris to provide free futures data to any of their customers using the Sierra Chart platform.
The word 'FREE' always gets our attention. We will release an upgraded version of Kwik*POP for Sierra Charts late next week. We'll send a newsletter out when our upgrade is finished because we think this is a really good deal. Hey, FREE is always a good deal..eh?
STOCK DISTRIBUTION CYCLE STARTING
Research published by Yale Hirsch in the Trader's Almanac shows that the market year is broken into two six-month seasonality periods. From May 1 through October 31 is seasonally unfavorable, and the market most often finishes lower than it was at the beginning of the period. From November 1 through April 30 is seasonally favorable, and the market most often finishes the period higher. Naturally, it doesn't always work out that way, but thats the pattern the majority of years. Given the historic rally off the March 2009 lows, the excessive overbought conditions currently in the markets, the financial crisis brewing in Europe and the stubborness of the US employment and housing numbers to show any signs of a rebound ... a 12% stock market correction is possible.
Is this the short term top? Shoot, my crystal ball was repossessed years ago after I stopped making payments on it because it didn't work right. The patterns over the last several days are suggesting a top may be forming. On up days volume is less than average and on down days volume is greater than average telling us that somebody is taking a few chips off the table. Prices have struggled at the top of the latest 4 week range and are now starting to slide back down a little after failing to break above 1220.00 on the S+P500.
The most important confirmation of a selling cycle is that we've got red candlesticks on our daily chart of the SPX. This is the first time we've had red candlesticks on the daily chart of SPX since February 12th. Back then the S+P500 closed at 1078. Since then it's gone straight up 141 handles with out so much as a pause.But ... we now have RED CANDLESTICKS! Thus, we are definitely in a selling cycle but is this the top for the year? I really don't know, but I do know that when selling cycles start on a daily chart you should definitely take profits on any long stock positions you are holding.
CAVEAT EMPTOR!
Well, that's all for now.
Regards,
WDH
THE
COMMODITY FUTURES TRADING COMMISSION. ( C.F.T.C.) This brief statement does not
disclose all of the risks and other significant aspects of trading in futures
and options. In light of the risks, you should undertake such transactions only
if you understand the nature of the contracts ( and contractual relationships )
into which you are entering and the extent of your exposure to risk. Trading in
futures and options is not suitable for many members of the public. You should
carefully consider whether trading is appropriate for you in light of your
experience, objectives, financial resources and other relevant circumstances.
Some of the examples used are hypothetical. Hypothetical trading results have
many inherent limitations and may not reflect actual results since they are
done with the benefit of hindsight and do not accurately reflect market
conditions and the traders emotional level while under the stress of trading.
No representation is being made that any account will or is likely to achieve
profits or losses similar to those shown.
|
