Emini Trading Update – Monday 26 Sept 2011 (20:14)

Had to work a little harder today – got stopped out twice but made it out ahead. Nice.

In case you didn’t catch it, put out a video on Trading Gold and Silver over the weekend . Not my usual shtick. But boy, what a response! I certainly hit a nerve with the “Gold bugs”.

Quotes of the day …

Again thank you for all the birthday wishes – I don’t deserve them. But the winning trades and the winning traders really makes my day – thank you, keep them coming.

From Jack C. last week …

“HAPPY BIRTHDAY! (and thanks for the great software! picked up 30 points today – both long and short)”

From Paul M last week …

“Happy Birthday Barry, we’re carrying on for you today, 2 shot 2 kill, one for me one for you, 9:18 edt short 1118 for 4 points in 13 minutes then 1117 long 09:34 for 4 points in 1 minute. Not a bad work day and I’m done.”

From Jason S. last week …

“Blimey. Can I have a prize for the fastest OSOK? 13 seconds! 1110 was old support then resistance. We had Pro bars into 1102 and EOT but I was a bit late getting long. With an eye on a possible pop of 1110 to the upside, we had a RAMBO on the 1500 into it but then a sudden Amateur bar back again. It just felt it wanted to go so i had a quick long and bang it went. BTW. This is how brilliant your indicators are … I’m up 4 again before the market is open and up 19 for the week. Super stoked and I’m off surfing after work.”

From Warren H. today …

“Hey Barry, 3 days in a row of hitting my 4 pt. goal. Today another one shot one kill. I went short at 9:30 Cst using the PB on the 1500. I was short at 1130 and was out 7 minutes later for 4 pts. Happy belated Birthday and thanks for these indicators.”

Hossegor surf …

Lastly, just a couple of photos from Hossegor surf on Friday and Sunday. The swell was 6ft on Friday and then backed off a little with fantastic weather and light offshores. Let’s hope it keeps going for the Quiksilver Pro starting in a week. Pictures courtesy of MagicSeaweed.

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.

Emini Trading Update – Thursday 22 Sept 2011 (16:05)

I didn’t get yesterday’s video out until late, so if you subscribe by email you might be receiving 2 messages in a row. Anyhow …

Back on the horse today – kept going after my one-shot-one-kill and was in the groove. Plus we had some nice ranges and fast moving market – always my favorite.

Shan’t be trading tomorrow and not going to put out a video – surf’s up, wind is light and offshore (and it’s my birthday).

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.

Emini Trading Update – Wednesday 21 Sept 2011 (16:20)

Well what a day. The video is out late because I wanted to see the full carnage after FOMC. Not good, ladies and gentlemen. And as I’m writing this we’re at 1,136 on the Emini.

Videos of the day …

No doubt about it, MEP Godfrey Bloom is a maverick. What I found interesting was he says he’s scared at the lack of insight into the problem by the European politicians.

I’ve always assumed that the politicians (particularly in the US) understand the problem and are just trying not to spook the sheeple. But if they don’t really understand and have misdiagnosed the problem, well … that’s making sure the soup is hot at dinner as the Titanic is steaming towards a rogue iceberg.

I must admit listening to Trichet witter on about how well he’s kept inflation at bay while the European banking system is about to spontaneously combust … well, it’s like watching Alan Greenspan say “I found a flaw in my model”.

MEP Godfrey Bloom interviewed on RT

And now for some Ayn Rand love. I must admit I didn’t know there was an Ayn Rand Institute – but it sounds like the kind of place I’d like. Still hanging out to watch Atlas Shrugged the movie – the movie was panned, I know, but so was Rocky IV and what a classic that turned out to be.

Yaron Brook on Tech Ticker

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.

Emini Trading Update – Tuesday 20 Sept 2011 (14:43)

Something is going on – lot of Professional activity between 1200 and 1214. And we’ve got FOMC tomorrow. Was that accumulation getting ready for a break out of consolidation above 1214? We’ll know tomorrow I suppose.

Link of the day …

I’m a huge fan of Harry Dent and the way he has combined economic forecasting with easy-to-understand demographics.

Yes, he has his critics – mostly people who have never contributed an original idea themselves – and I think he tries to be too precise with his forecasts using Elliott Wave Theory. But the fundamental idea that economic growth can be forecast by the highest spending age cohort (approx. 45 year olds) is sheer brilliance.

It’s the reason why Japan is in a mess and it’s the reason why Europe (and particularly Italy) is headed for the toilet. Sorry to be blunt.

And now some nice research from Citigroup’s chief US equity strategist, Tobias Levkovich, showing the long term correlation between PE ratios and demographics.

(HT Business Insider, a financial blog that rocks)

Quote of the day …

From Jeff S.

“Hi Barry, I just wanted to let you know that I was in and out of the market with 4 points today. I went short at 1187.50 around 8:40am CST on the 1500 tick bar chart. I waited for the second blue bar which broke below the first blue bar. I was out at 1183.50 around 8:45am CST … I had the same type of day as you did last Wednesday and Thursday … Thanks for all the great indicators and updates you give.”

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.

Emini Trading Update – Monday 19 Sept 2011 (13:53)

That’s more like it – just put my head down, took my signals and didn’t over-think things. Yes, some of my trades could have been better – better entries and bailed out of 2 trades before my target was hit. But, hey, that’s just me – in too early and out too early.

And today I’ll have no opinion about which way the market is going – who cares anyway.

DSK

Dominique Strauss-Kahn was on prime time TV on Sunday night here in France. I joined the 13.5 million viewers (the biggest audience since 2005 for a French news broadcast) who tuned in to hear what he had to say.

Alas, although he spoke very slowly and emphatically (thank you Mr DSK) I only managed 1 in 3 words. As for the performance? Methinks he doth protest too much. Much prefer the Hugh Grant/Devine Brown style of apology – “I did a bad thing”.

The best part of course, was watching the ever-elegant Claire Chazal (above) ask the questions and cross her arms in disgust throughout the entire interview. Apparently she’s a good friend of DSK’s wife!

Of course there’s no hope for the global economy as the debt bubble reaches its inevitable conclusion – but I think Christine Lagarde at least has her eye on the job.

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.

Emini Trading Update – Friday 16 Sept 2011 (9:47)

Just some thoughts on the Emini this weekend.

I had a flying start on Tuesday but then botched it on Wednesday and Thursday – trend up days, which I hate. Got it back together on Friday, but all-in-all not a great week for me.

Still, the surf has been excellent

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.

Emini Trading Update – Tuesday 13 Sept 2011 (19:49)

Well, back into it – after a lost luggage episode here in France. Hmm, well I suppose we were due and no irreparable damage done.

Boring day trading video from me today. A little bit of over-trading but the volatility and ranges are good – so make hay while the sun shines.

As I write this we’re trying to break down through 1,154, having given up at 1,168. Still not seen exhaustion selling volume on the 40,500 tick chart – and until we do, I don’t think this down trend is over. We’ll see.

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.

Emini Trading Update – Friday 9 Sept 2011 (22:30)

Almost arrived at our destination (Biarritz, France). Had to record this video while on the road. Apologies for it being long but there are a lot of charts to show.

Quote of the day …

Wow. Great trading by Marvin G.

“Just installed Better Pro Am. 5 winning trades in a row. Thanks for a great product.”

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.

Emini Trading Update – Tuesday 6 Sept 2011 (9:32)

What a week this is turning out to be – and I’m on planes during most of it. Aggh. Just a short video as we’re on our way to the airport in less than 24 hours.

Lot of Professional activity at the end of the day – and I see that as getting ready for another pass down to test 1,140. Big question – will it hold? I think some German constitutional judges in Karlsruhe hold the answer. We’ll see.

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.

Emini Trading Update – Friday 2 Sept 2011 (19:36)

Hope no one was surprised by the 60 point sell off in the last 2 days – nicely signalled on the daily chart with cycles and TRIN.

Discussion of the move happening from “risk on” to “risk off” in the video. Will this continue for the full swing on the daily charts (i.e. all next week)? Or will we get “caught” on Tuesday/Wednesday with low range bars and never get close to the 1,100 low?

We’ll have to wait and see. It’s now September, very few good news stories about, etc. I think a Flush signal on Crude Oil would be interesting – no, let’s just take it day-by-day.

Enjoy Labor Day long weekend in the US. Don’t forget the market is shut on Monday.

Chicago PMI (Purchasing Managers Index)

Just a note on the Chicago PMI data release that surprised me on Wednesday.

The number is released to PMI subscribers at 8:41 am (CST) and then to the general public at 8:45 am. Hence the volatility “early” at 8:41 am in Wednesday’s video.

Bloomberg indicated that the number would “Merit Extra Attention” but not be “Market Moving”. Well – not this time! Glad I was on the right side of that trade.

More information here on the Chicago PMI. HT to Howard M. for filling me in.

Link of the day …

Thankfully these days I get fewer and fewer emails about crashed hard drives and lost indicator code. But just in case you’re not prepared, the kind folks at Mozy are offering new subscribers a 10% discount during September.

Mozy are the leading online backup services. It’s:

• Simple to operate and restore in the event of a catastrophe
• Works in the background, backing up as you go, not just once-a-day
• Cheap ($6 a month)

This time last year, my wife’s hard drive suddenly stopped working – and it was a shiny, new Apple Mac too! But even though we were overseas in France at the time it wasn’t a drama – and we had her up and running again in a couple of hours, with nothing lost.

To get the discount follow this link to Mozy and use this promo code: SAVEME10.

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.