TLT

Treasuries broke out today. This is a very strong pattern(cup and handle) on the daily and the weekly - very UNUSUAL! I will enter a long position tomorrow using call options. Hope it helps

British Pound

Target two hit next target 1.5147 - I posted this trade on 6-16 (see archive)

Target tow hit @ 1.5147

NYX

Long @ 28.96 target one @ 30.48 stop @ 27.88

STOPPED OUT @ 27.88 BY ONE TICK!

NYX

Here's one that jumped off the screen when I was scanning tonight. On the hourly chart it has broken the down trend, on the daily chart price landed and held the moving average (see chart) and on the weekly chart it has pulled back to the 50ma and held. With all that said, I will get long tomorrow with July call options on the 28 strike... Target one 30.48 with a stop @ 27.88... Hope it helps

XHB

I posted this chart on 6-14 for a short opportunity (see acrchives). I hope many of you took advantage of this trade... hope it helps.

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QQQQ

Nice setup on the QQQQ... Hope it helps

Oil Futures

On June 14th, I posted this chart (look in the archives). You can see how strong this pattern is. Price is holding at the neck line (inverted head and shoulders) as well as the 150 moving average. Also, this looks like a cup and handle pattern could be forming... Oil looks like it's had it's coffee and doughnut break and now ready to go back to work...Hope it helps

QQQQ

Long @ 45.61 target one 46.07 stop @ 45.45

Stopped out -.17 - this was a high probability gap trade with low risk... I take this trade every time the setup is there. this setup works 84% of the time...

Euro Futures

I am waiting very patiently for the retracement to 1.2421 for a shorting opportunity... Hope it helps

SLV

Long @ 18.41 stop target one @ 19.44 target two @ 20.73...

T-Note Futures or TBT (ETF)

If or when the price can test the trend line, I will short the T-Notes with a very tight stop. Another way to take this trade for those that don't trade the futures, you buy the TBT (ETF)...

SLV

Now that SLV has pulled back I will add to my position with target one at 19.44 and target two at 20.73... Hope it helps

Vix

Now that the VIX has bounced off the 200 day moving average on the monthly chart, will this be a precursor to the correction I've been setting up for?Stay tuned for the fireworks... Hope it helps

Gold

Target three hit @ 1266

Soy

Long @ 961.25 Target one @ 984 stop 955.50

What I see for positions that I'm in

When oil gets to 80.50 and holds, it should move to 85 and then 87... Nat Gas should hit all the targets and move to to 6.03... Gold is behaving like a well trained pet hitting all the price targets - should hit 1300 this week... Silver should hit 19.84 and at that time I will revaluate the pattern... Hope it helps... I'm preparing to short the S&P and get Long Soy...

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Gold

GOLD TARGET HIT @ 1254.50 +21

Target two hit @ 1260

1300 HERE WE GO!!!!

Soy futures

Long @ 962.75 Target one @ 968.50 stop @ 955

STOPPED OUT -7.25 THAT HURT

Corn Futures

If corn can break 361.25, I will get long with a target of 385...Hope it helps

British Pound

Long @ 1.4710 stop @ 1.4645 Target one @ 1.4807

Target one hit @ 148.07 new target 1.4861

If you don't trade the futures you can trade the ETF FXB... Hope it helps

SLV

LONG @ 18.15 TARGET19.43 STOP 17.85

GBP/USD TARGET HIT +101 PIPS @ jamesolivertrades.blogsopot.com

Oil Futures

I POSTED THIS CHART LAST NIGHT. YOU CAN SEE HOW POWERFUL THESE PATTERNS (head and shoulders) ARE. YOU CAN SEE BY THE FIBO EXTENSIONS WHERE THE PRICE IS HEADED... Also today's price action closed above the 200...Hope it helps

USO

Long @ 35.00 per the oil chart I posted last night... I bought the July 35 strike calls... Hope it helps

Target one @ 36.09 with a stop @ 33.66

Oats looks like the leader (DBA)

This is very interesting. looks to me like Oats leads the herd in the grain arena. The two charts below show Oats (top chart) have exploded and looks like corn (lower chart) will follow... If you don't trade the futures you can take advantage of this trade by trading DBA... Hope it helps

Oil Futures

For all you technical junkies, here's a nice inverted head and shoulders pattern... These patterns are usually very powerful... Looks like oil wants to go to 80...Hope it helps

UNG

Target one Hit @ 8.47

Next target @ 9.32 with stop @ 8.25

XHB

I posted this chart on 6-14 (see below)... I hope some of you took advantage of this setup...

This is definitely worth a look... If price confirms here I will get short with puts... Hope it helps

QQQQ -.22

Long @ 45.97 target 46.47 stop 45.75

STOPPED OUT - .22 UNREAL!!!!

I DESERVED BEING STOPPED OUT. I SHOULD HAVE MOVED MY STOP WHEN 50% OF THE TARGET WAS HIT, BUT I GOT DISTRACTED. MY OWN FAULT...I DIDN'T FOLLOW MY OWN RULE!!!

Triple Witching Week (S&P)

LOOKS LIKE THE RALLY IS IN PLACE (SEE CHART)

Do not forget that this is expiration week, so we should get a rally to the upside. The rally could take us to 1120 to 1138 range... Hope it helps

GBP/USD +101 PIPS

Long 1.4613 Target one 1.4758 Stop @ 1.4565

Target one hit @ 1.4758 moving stop to 1.4714 next target 1.4811

STOPPED OUT +101 PIPS

Euro Futures +58 TICKS

Long Euro @ 121.82 target one 122.40...

Target one hit @ 122.40 new stop @ 122.40 with new target @ 1.2359

STOPPED OUT + 58 TICKS

For those of you that don't trade futures you may want to look at symbol FXE... I will post a chart later tonight... Hope it helps

Gold Futures (GC) +21

Adding to long position @1233.50 Target one 1254.50...Hope it helps

TARGET HIT +21

Technical Analysis/Pattern Recognition

When I post a chart with my technical analysis, all I'm saying is what I see on the chart . News can drastically change technical analysis (direction bullish/bearish)at anytime (as many of you know). I trust technical analysis much more than fundamentals because they can be manipulated by so many from the inside. When looking at charts all I'm looking at is buyer behavior based off GREED and FEAR... Hope it helps

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Anonymous

I love people that make comments without reading all my posts (June 7 post). Anonymous wrote "bears are waiting to get short". Haven't I wrote about that on many occasions? I'm already 40% into my short position as I wait for the SPY to get to the 111.70 area which at that time I will buy more puts... Hope it helps

Natural Gas

Natural gas is on the move - a break above 4.80 I will get long... For those of you that don't trade futures, you can trade the UNG etf... UNG has pulled back to support @ 8.00, I have target one at 8.47... hope it helps

S&P

Will price hold above 1070????

Oil Futures

Her'e a nice long entry for oil futures with a target of 78.12... Hope it helps

Market didn't close over 1070

Now that the market closed below 1070 I will wait for a rally to 1070 to add to my SPY 60 puts for December... Hope it helps

Using stops in a volatile market

One thing for sure in this market, you HAVE to use wider stops!!!

UNG (Nat Gas ETF) +100%

STOPPED OUT WITH 100% PROFIT! I bought the calls for .70 and when I moved my stop to 8.30, they sold @ 1.40...

BP momentum

For the first time since Friday's open the short term momentum has turned positive for BP...Hope it helps

Monday's close

Monday's close on the S&P should be very telling of which way the market will go. Keep an eye on 1070, which should prove to be a key level. If the market closes above 1070 then we should prepare for a bear rally to the test the downtrend. Amazing how the downtrend line, the 150 moving average and the fibonacci retracement levels all meet in the same area.

Last week I wrote on one of my postings that technically the Nasdaq would lead the markets into this bear market rally that I'm anticipating. I started buying SPY December 60 puts at .60 last week and I will continue to add to this position. I got some interesting comments, form some followers. The fact that the Nasdaq rarely leads is true. The fact of the matter is that the Nasdaq looked bullish and remains bullish until the pattern changes. It closed on Friday above the 200. Worth keeping your eye on it. Gold continues it's march upward to the 1260 target I posted earlier (see archives), Oil looks like it is headed for 65.50, the USD is headed for 92 to 93 as the euro continues to collapse. For those of you that don't trade futures you can take advantage of all the markets by using ETF's. Hope it helps

It's truly amazing how the dollar continues higher and gold continues as well... The message is loud and clear - the deleveraging process is in overdrive as credit is being destroyed, real estate will continue to drop both commercial and single housing...

HOW to defeat the BEAST

One thing that is for sure is, as you learn to trade, you will be introduced to the Voice Of The BEAST!!! It's not very big, not very loud (at times, you can hardly hear it) and it’s hard for you to see, as well. Unfortunately, the power it has is overwhelming and staggering. Some of you are probably wondering what on EARTH is he (me) talking about? Some of you know exactly what I'm talking about. It's that little voice in the back of your head that tells you that you can't do this or do that, or do anything else that is out of the ordinary, for that matter. You go to work and put in your hours and get your paycheck – and that’s where you stop, because you either can’t or won’t take that extra step, and go from being afraid to being a lion! Any kind of action, such as trading, is treated like such an arcane component of our culture, and something that so few of us understand (and are afraid of, as well), that we don’t bother to learn how to do it, or, if we are interested in learning, allow fear of the unknown to stop us from exercising our imagination.

When you couple out of the ordinary, mass marketing (which is a sales technique, for example, such as telling and showing people just how easy it is to trade), and the people that you’re trying to teach don’t follow the lessons exactly, it’s no wonder that most of the people that try to become traders end up failing, and failing BIG time. If you start out with the proper structure in place, you can do very well. For example, I'm self-taught, and I believe that if I can teach myself how to do it, then anyone that wants to learn badly enough, and who isn’t afraid of learning and applying what has been learned to master a new skill can do it. Just don't drink the marketing propaganda that so many companies try to shove down your throat while they take your money at the same time, and do NOT listen when they tell you that you’re a failure because you can’t do what they tell you to do – when they don’t really TELL you the right way to do it to begin with. On top of the marketing propaganda coming at you like a volcano that just erupted, you are competing against professionals that love to take your money and are very good at it. Remember when a trader makes a billion that means that someone lost a billion.

Most marketing companies that are in the “business” of teaching people how to trade in commodities aren’t interested in anything except talking your money. There are companies out there that actually want you to be a success at trading, and who will help you and teach your – but they are few and far between.

So, how do you defeat the BEAST? By learning – and the first thing that you learn how to do is quit being afraid of failure. FEAR is the key that opens The Beast’s cage.

I share this because I learned the hard way and it was and is a constant battle.

UNG - moving my stop to 8.30 locking in 90% profit target 9.32...

UNG - moving my stop to 8.10 locking in 70% profit target 9.32...

UNG (Nat Gas ETF)

Target hit +50% - YIPPEE!!!

just moved stop to 7.90 to lock in profit of 50%

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UNG (Nat Gas ETF)

UNG is testing the top of the channel that I posted on my blog 5-28 (see chart below)...If price can break out to the upside and hold 7.79 on a pull back, I will add to my position...Hope it helps

NQ (Futures)

The Nasdaq has a very strong setup that could lead all the markets to higher levels... Keep an eye on it... If price can hold above 1879, price should retest 2028.50...Hope it helps

GS

I'm also looking @ Golden Slachs if the price can break above 146.41 with a target of 152.46 for a nice long for a quick pop... Hope it helps

BP

This a very interesting setup... If the price can close above yesterday's high I could enter a long position with a target to close the gap... Hope it helps

LONG @ 38.54

British Pound

Long with a target of 1.5150... Hope it helps