OIL Futures

Wow, do I love charts!!!! Compare the two charts and you tell me if technical analysis works or not... Bottom chart I posted a few days ago... Top chart from today @11:35am... AMAZING!!!!

If oil closes below68.34 I will enter a short position... Oil may retrace to the bottom of the channel, if so I will short oil...

IWM

Short the IWM @ 60.62 first target 59.30 then I will reevaluate the pattren...

30 year Treasury Bond Futures

I am long the bond futures @ 121.09 with a target of $122... What was resistance is now support and it held...

SOY - LONG

Went long at the open @ 924.25 with a target of 934...When soy shot up to 928.75 I moved my stop to 926.25 to lock in 2 points per contract...

TLT - Bonds ETF

I posted this a few days ago before the price broke resistance... You can see that resistance has been broken, so if support can hold here, I will enter a long position... Bonds look bullish with caution for the short term... Watching closely!

DEAD END KIDS

See article in Market Updates...I watched these thugs every Saturday morning with a black and white TV... They were HYSTERICAL...

http://www.youtube.com/watch?v=q0Cw2FiA6NY

SPY HIGH???

The SPY after hitting a double top has made a very healthy pullback to previous support…Next week could prove to be very important should this price action hold and then continue to move up for another test of the previous high…Should support not hold price could test the trend line...

OIL

Oil has definitely broken the channel that it has been in since July... The question is - will it retrace to the bottom of the channel?

SSG - Target $24.67

On September 16th, I posted an entry and stop for SSG... Seems like an eternity for me as I normally don't hold trades for this long... I'm very close to my target of 24.67, then I will re-evaluate the pattern...

GOLD RETREATS...

As long as gold holds the 980 range I will add to my already large position... see chart

* December gold futures settled down $7.30 at $991.60 an ounce on the COMEX division of the New York Mercantile Exchange.

 * Range from $1,000.50 to $985.50, which marked the lowest price since Sept. 10.

 * Gold's recent drop was a minor correction after it failed to clearly break above strong resistance at $1,020 an ounce level earlier this week - traders.

 * Gold's retreat is definitely dollar-driven, and a correction in an overly long U.S. futures market could send prices to the mid- to upper-$900 range...

 * Weak physical demand from top bullion consumer India because of near-record-high prices also accelerated selling...

 * The dollar turned weaker against the euro after U.S. consumer sentiment data was improving, and that took gold futures off their session lows...

 * U.S. oil futures slightly rebounded, rising to around $66 a barrel, after dropping $3 in the previous session on weak economic sentiment...

 * Gold-to-oil ratio at 15, down from the previous session's 15.12.

 * COMEX estimated final volume at a busy 128,755 lots.

 * Spot gold XAU= was at $989.15 an ounce at 4:02 p.m. EDT (2002 GMT) versus $993.75, which was the previous session's late New York quote.

 * London afternoon gold fix XAUFIX= was at $991.50

 SILVER
 * December silver SIZ9 ended down 23.5 cents, or 1.4 percent, at $16.060 an ounce, tracking gold's decline.
 * Range from $15.955 to $16.410.
 * COMEX estimated final volume at 36,500 lots.
 * Spot silver XAG= was at $16.02, versus its previous finish of 16.18 an ounce.
 * London silver fix XAGFIX= at $16.20 an ounce.

$USD

If the USD can break $77.33 price should test the top of the channel... I'm watching this very close for a pure play on the EUR/GBP...

DISCIPLINE!!!!

Discipline is one of the hardest parts of trading... Your emotions can literally crush your discipline if you aren't disciplined enough to follow your own methodology... Discipline and patience can be a very profitable recipe for traders... ICE - one of my earlier postings is a prefect example of discipline and patience...

TEN YEAR NOTE

Hit my target @ 118.280!!!! see earlier post for when I entered this trade yesterday

EUR/USD

If EUR/USD holds I will enter a long position if not then I will look for a trade in the equities... EUR/USD The Euro hit resistance above 1.4825 in Europe on Wednesday and generally edged slightly lower. The dollar gained some degree of protection from a weaker trend in commodity prices with oil dipping to below the US$69 per barrel level following an unexpected increase in inventories.

LONG TEN YEAR FUTURES

Long @ 117.10 I will post the chart later, I'm in the car...

CORN TARGET HIT @ $329

See my earlier post for my entry...

TLT

This one worth watching... Needs to break 97.75...

$USD

As I wrote earlier this year about the dollar testing a previous low of 76.23 certainly is behaving like a technical jewel... Here is the chart I posted earlier this year...

CORN

Long corn at the open @ $320 with a target of $329...This was a limit order I placed before the open early today... This is the first chance I've had to post this trade, since I've been in meetings all day...This is a one hour chart... Hope this helps

GOLD GOLD GOLD

$1026 here we come!!!!

BAC

BAC looks like a good short low risk trade - Price has not been able to test the high after four attempts...

SOY FUTURES

Got short @ 928 at 7:40 am today...

LONG USD/JPY @ 91.41

SOY FUTURES

On September 15th there was a scare in the soy market, consequently price exploded... Notice how the following days have yet to test the high of 9-15... With that said, this is bearish to me, so I will go short if price breaks below $928.00 Monday... Blogged out!

Publish Post

Could China Push Gold to the Moon?

Inside sources have recently confirmed the Chinese government is actively promoting gold and silver investment to the masses.

Priceless: How The Federal Reserve Bought The Economics Profession

"If you're on the Fed payroll there's a conflict of interest."

http://74.125.155.132/search?q=cache:http://www.chrismartenson.com/forum/priceless-how-federal-reserve-bought-economics-profession/27871

Financial WAR w/ China?!?! Dollar Collapse & Gold's Future

When China auctions their bonds for the first time in the open market next week, will this be the first shot fired in the financial war being launched against the US? Which division or brigade will be their first target - Golden Slachs? Stay tuned as this unfolds...

Obama Risks Global Trade War With China on Misguided Tariffs

I'm out...

S & P - $1122.00

When will we get there?

The Nasdaq 100 failed to make it to its new resistance level Friday. The S&P 500 and Russell 2000 broke briefly above their resistance zones but could not sustain those levels and closed back below resistance.

UUP - Notice the VOLUME...

This looks like a nice pattern for a counter trend trade, plus the fact that the options activity on the call side is HUGE!!! This is one to watch on Monday when confirms I will enter the trade...

Natural Gas Surges 56%

The fact that natural gas has surged 56% since September 4th, I'm looking to short UNG when pattern confrms... see article

http://www.bloomberg.com/apps/news?pid=20601103&sid=acs9vejFNPDc

Gold Strategy

I patiently waited for another opportunity to add to my gold positions... I was able to increase my positions this morning - IAG, GG,GLD,EGO and gold futures...

SRS - Long

I entered SRS @ 9.05 1st target 10.87 with a stop @ 8.40....

Retail Train Wreck...

I'm strictly a technical pattern recognition trader, but that does not mean that I'm not aware of market data and news... I've posted charts on the RTH (ETF) as it approaches the short zone where I will enter a low risk trade... Here's a link to a top retail analyst with great info for those of you that need more than technical analysis... http://www.americasresearchgroup.com/americas_retailers_face_grim_2009_after_christmas_train_wreck.html

UNG - Nice setup

A very nice fibo retracement pattern... I will enter this trade tomorrow when confirmed...

RTH - Patience, Patience, Patience!!!

Almost in the short zone... Done for the night...

UYG

Nice breakout! Worth a look...

INFLATION is warming up in the Bullpen...

The market turned lower after the Treasury Department reported that foreign investors sold $97.5 billion in U.S. assets in July -- the biggest sell-off since January, according to TD Securities. That followed a $56.8 billion outflow in June that analysts said was higher than previously reported.

SSG

Went long on SSG this morning @22.44 with a stop of 21.89...

Gold Strategy

See my Gold Strategy post from last week... Here is an article written today...

Gold, Up 30% From Lehman Demise, May Advance as Dollar Declines
http://www.bloomberg.com/apps/news?pid=20601091&sid=aZyHg63edUPc

As I wrote earlier this year, the $US Dollar should re-test 76.23... If and when this happens, this could be the launching pad for Gold to move up to $1060.00 and also push the equity markets higher...

ICE - Cold....

shorted ICE today and still holding until the technical pattern confirms a reversal...

RTH

RTH (Retail ETF) is very close to technical resistance, which should prove to be a great opportunity to short... As a technical trader I only make technical trades, but having such an appetite for market data and news that I devour on a daily basis I am very aware of the the retail data...
Clunkers’ Probably Boosted Retail Sales: U.S. Economy Preview
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPjsMz.iocrQ

Gold Strategy

Now that gold has broken the $1000.00 BARRIER what's next? Gold's next stopping point should be in the $1060.00 range in a fairly short term period. So, how can the average investor take advantage of this move in gold prices? Buy GG, IAG, EGO & GLD, also add SLV (Silver ETF)to your portfolio. Traditionally this time of the year is very strong for Gold prices and metals in general. Should go to 1200, 1300 and eventually 1500. Hope this helps