Friday, January 08, 2010

Believe It or Not / Emini Futures Trading - Friday January 8th, 2010

(QQQQ)(SPY)(DIA)(GLD)(SFEG)

"What if some did not believe? Shall their unbelief make the faith of God without effect?"
(Romans 3:3, KJV)
“I have to say, with Paul, ‘What if some did not believe?’ It is no new thing; for there have always been some who have rejected the revelation of God. What then? You and I had better go on believing, and testing for ourselves, and proving the faithfulness of God, and living upon Christ our Lord, even though we see another set of doubters, and another, and yet another ad infinitum. The gospel is no failure, as many of us know.” (Spurgeon)
Friend, when God puts revelation in your heart you don't need any man to validate it. How many times have you heard -

You aren't tall enough...
You aren't pretty enough...
You don't have the skills, education, or funding required.

HOOEY!
The Word says "I can do all things through Christ". I'm quite sure, more than one person told the Wright Bros. man could not fly. I'm pretty sure, at least one person told them if God had intended for men to fly, He would have given them wings.
Only God knows what you are truly capable of because He alone created you and He alone is privy to your unique list of ingredients. Now I'm not encouraging foolish behavior, and I'm not suggesting that you should never seek wise counsel. What I am encouraging is that each of us take our marching orders from the Holy Spirit and let the naysayers watch from the sidelines as we fulfill our God ordained destiny doing exactly that which, "with man is impossible". (Listen Now)

As a Man Thinketh by James Allen

Chapter One - Thought and Character

(continued)
Of all the beautiful truths pertaining to the soul which have been restored and brought to light in this age, none is more gladdening or fruitful of divine promise and confidence than this - that man is the master of thought, the molder of character, and maker and shaper of condition, environment, and destiny.

As a being of Power, Intelligence, and Love, and the lord of his own thoughts, man holds the key to every situation, and contains within himself that transforming and regenerative agency by which he may make himself what he wills.

Man is always the master, even in his weakest and most abandoned state; but in his weakness and degradation he is the foolish master who misgoverns his "household." When he begins to reflect upon his condition, and to search diligently for the Law upon which his being is established, he then becomes the wise master, directing his energies with intelligence, and fashioning his thoughts to fruitful issues. Such is the conscious master, and man can only thus become by discovering within himself the laws of thought; which discovery is totally a matter of application, self-analysis, and experience.


S&P 500 Emini Futures Trading

Pretty straight forward stuff. The U.S. unexpectedly lost 85,000 jobs in December, we drop 10 points pre-market, suck it up and continue the "drunken sailor" drift higher.  
(As an ex-Navy man I can say "drunken sailor" and still be politically correct. In fact, as an ex-drunken sailor...never mind.) 

You get the point. Our weekly trading zone gave us 2 great entry spots today, one just before the open and one just after. Blue arrows highlight the 1131 entry as well as the 1132. As discussed on the show, the 1131 was valid after the doji, the 1132 entry was a little more subjective but a conservative entry, waiting for a close above the ema had a drawdown of 1 point and a potential target of 3 points.

The third and final highlight represents a trade opportunity off the bottom of the channel. We were speaking live with David from PageTrader when price approached the lower trend line. As it turned out, that became one of the best moves the market showed all day.

March Soybeans
 

As Always,
Pray Hard & Trade Safe





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