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Getting settled after 10 days of travelling. The video is just a recap of some Emini and related market charts. I’ll post some more once I start back trading.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
Quite enjoying not worrying about the overall market direction – just taking the setups. I think this trade was pretty picture perfect, but it’s much easier to see that in retrospect of course. Need a bit of a break from the blog and trading, so looking forward to the travel next week.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
I’ve lost count of the number of times the market has been rescued by the skin of it’s teeth. You gotta laugh – the market moves simply as a result of Government announcements now. Forget earnings, deals, FDA approvals – meaningless. We’ve become the Soviet Union and the Politbureau has just told us they’re here to help. I can’t even muster a rant anymore.
Anyway, small note about the first 4,500 tick bar chart I show. Had to re-fresh my cached data this morning and I don’t think it all came through. So my 4,500 tick chart might look different to yours around Tuesday/Wednesday.
We’re getting ready for a little travelling so apologies if the site is a little quiet. If you’re bored and run out of Mad Men re-runs why not check out the “best of” page. I’ve been quietly re-arranging some stuff – and I hope the material lives up to the title.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
P.S. Please, no emails about the misspelling of Politbureau – I think it should be spelt this way, not Politburo. Spasiba.
The video starts with a bit of a discussion about this morning’s gap up. Watch out for those Professionals during the holidays – they never take time off 
Jumped out a fraction too early on my first trade, so not quite a OSOK. Then decided to trade on a little – partly because I ended last week flat (after a very frustrating Wednesday). Anyway, long story short, after five trades only managed 4 points.
Sometimes it’s just best to stop, breathe deep and go do something else.
This amazing article from Business Insider and The Automatic Earth summarizes the situation in Europe, by country and bank. This should really scare the pants off any investor.
From Paul P. who also caught the OSOK first thing this morning:
“Hi Barry, Just wanted to say thanks and share my successful trade today. I got long the ES shortly after the open on a pullback on the 1500 tick bar with blue professional bar and exited with 4 points and a end of trend signal (OSOK). Thanks again for your education and signals. I guess I need to take up surfing or something to fill my free time.”
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
Looking forward to Thanksgiving – and quiet markets for the next few days.
From John J.
“Hey Barry, Great video on the Euro. Pardon my ignorance, but if you can’t trust your broker, and you can’t trust your bank, where do you keep your money? Sorry to deviate so far from the E mini. And I know you aren’t a financial advisor, etc., but you are a wise man indeed.
By the way, I got my first OSOK this morning. Effin’ love it! You’re the best man!”
First of all, well done on the OSOK. As for banks and brokers? Yes exactly, a sad state of affairs. It’s probably worth a longer discussion at some point but consider non-US institutions. Yes, US citizens have stringent reporting requirements, but as long as you meet those you have options.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
Finished off the week with a nice OSOK (one shot one kill). Today was always going to be range bound after 2 big trending days – and so far we’ve got a top to bottom range of about 10 points. And 1,210 appears to be holding for now.
If you’ve not seen the full interview with Kyle Bass, it’s a must – incredibly logical guy, brilliantly explains the problems and issues.
The BBC interviewer, Sarah Montague, on the other hand, acted like a complete ass. Which is a real shame, because she has a finance background, worked on a Eurobond desk at NatWest Capital Markets and is the kind of person I’d like to see more of getting the message over to the general public.
But she seems to hate people profiting from their logical minds and adapting to the world they see, rather than the world they are being told to believe in.
Still, Kyle, you killed it. Awesome job, live long and prosper. Video on ZeroHedge.
Great email from Petr S., who’s a Forex trader. Here is how he is using the ‘Better’ indicators to trade Forex and his results:
“Barry, I want to express my the most sincere thanks for your truly outstanding work and dedication to share your trading research and approach with trading community. I am a full time forex trader with aspirations to increase my trading account allowing me to switch eventually from spot forex to futures to fully utilize the power of your indicators.
Upon detailed study of all the information available on your site, I realized that for forex trading switching from my range bar charts to tick charts, using 3 timeframes for reference and adding the Better Sine Wave would be the most usefull adjustments to my charting set-up. Here is the comparision of several metrics for 8 trading days before charts adjustements and Better Sine Wave installation and 8 days after:
8 days before: 81 trades taken with average 10.1 trades per trading session, 2 profitable days out of 8, daily average 0.03 pips.
8 days after: 73 trades taken with average 9.1 trades per trading session, 7 profitable days out of 8, daily average 13.4 pips.
Talking about dramatic improvement! Barry, once more, thank you very much for your work and I wish you the very best in your trading and personal life.”
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
Minor rant today – just a bit of fun. Just don’t be rude – especially when you’re getting something for free. And then some day trades.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
Well, things are getting interesting – that was quite an afternoon sell off.
Bit of a round-robin group of charts today, plus a day trade tagged on at the end. My trading was pretty scrappy, and by the time the real trend move set up I’d had enough and exited way too early. Oh well, not bothered though.
So now the line in the sand is clear – 1,260. Let’s see what happens the next 2 days. If we hold and manage to get above 1,260 then this thing will run up. But we’ve been in consolidation for a week and a half now and the market is itching for a break – and the trend line chart says the break was down. I can just see the $DXY wanting to pop.
Could it get any more exciting?
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
Mid-Monday morning and it’s been a quiet day so far. Typical shenanigans on Sunday night with a 10 point gap-it-up move that collapses. And now we’re sitting at 1,250 – almost like it’s above a trap door. Let’s see if it opens.
Check out these great videos and article from the weekend. The commentary is definitely getting better – in that, I mean the commentary is becoming more insightful, not rosy.
Niall Ferguson with a great chalkboard, whirling dervish of a video presentation. In 4 minutes 17 seconds he elegantly arrives at the conclusion that all economists are idiots and proposes a very simple solution to the US economic woes.
I like it, I like it a lot. But I wonder how Americans feel about be lectured to by a rather know-it-all Scottish-born university professor. (I know what we’d say if he came to Australia and did that.) See Ferguson in full flow.
I really feel for TrimTabs’ CEO Charles Biderman – an expert on stock market fund flows. He’s been stumped for the last 12 months trying to explain the rising stock market. But finally he’s found the answer: inflows from corporates buying back shares are swamping the general public withdrawing money from their mutual funds.
And apparently the corporates are swapping the equity for debt. Seemingly an elegant explanation. But do you buy it? HT to Mish for picking it up. See Biderman’s answer.
Nouriel Roubini took last year off – probably because the end was not ‘nigh yet. But now he’s out, telling it straight: “The endgame for the eurozone has begun. Sequential, coercive restructurings of debt will come first, and then exits from the monetary union that will eventually lead to the eurozone’s disintegration”.
I love it – he’s so definitive and makes it sound like the build up to The Rapture. And yes, I could buy that forecast. Read Roubini’s prophecy.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
After Wednesday’s sell-off all the sellers had sold and that’s why we’re getting this bounce – but it’s a little weak isn’t it. Doesn’t feel like buyers rushing in after they’ve just been handed a gift of a sell-off. Only time will tell.
I’m a little distracted as my site has been hacked. So need this weekend to re-group. Hope your trading went well this week.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
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