Monday, January 11, 2010

Keep A Good Thought / Emini Futures Trading - Monday January 11th, 2010


"Let this mind be in you which was also in Christ Jesus"

(Philippians 2:5 NKJV)

A positive attitude is rarely an accident. It takes a conscious choice and consistent application to remain positive and upbeat. On the other hand, being nasty and negative just seems to come naturally for some of us. The benefits of a positive attitude are many as we discuss on today's program... (Listen Now)

Thanks to one of our listeners Kim, for this gem:

Be careful of your thoughts, they become your actions
Be careful of your actions, they become your habits
Be careful of your habits, they become your character
Be careful of your character, it becomes your destiny

    "Set your mind on the things which are above..."
    (Colossians 3:2)

    What are those things that are above? The Apostle Paul gives us a great list by which we can evaluate our thoughts:

    "Finally, brethren, whatever things are true, whatever things are noble, whatever things are just, whatever things are pure, whatever things are lovely, whatever things are of good report, if there is any virtue and if there is anything praiseworthy--meditate on these things."
    Philippians 4:8

    Your personality is magnetic!  
    What will you attract today?

    As a Man Thinketh by James Allen

    Chapter One - Thought and Character

    Only by much searching and mining are gold an diamonds obtained, and man can find every truth connected with his being if he will dig deep into the mine of his soul. And that he is the maker of his character, the molder of his life, and the builder of his destiny, he may unerringly prove: if he will watch, control, and alter his thoughts, tracing their effects upon himself, upon others, and upon his life and circumstances; if he will link cause and effect by patient practice and investigation, utilizing his every experience, even to the most trivial, as a means of obtaining that knowledge of himself. In this direction, as in no other, is the law absolute that "He that seeketh findeth; and to him that knocketh it shall be opened"; for only by patience, practice, and ceaseless importunity can a man enter the Door of the Temple of Knowledge.

    S&P 500 Emini Futures

    Price opened higher on the Globex session trading up to our 1148/1149 Weekly Zone which became the high of the overnight as well as the day session, and then found support on 3 ocassions today at our 1138/1139 Zone. Today is the first day of earnings season and Alcoa which was "expected" to beat expectations according to CNBC, dissapointed and the market has now gapped lower on the Globex open.

    The purpose of the next chart is simply to illustrate the discussion about price channels on today's show. The price channel we are highlighting is from Friday. Go back and read Friday's post if you need clarification. This is not a once in a lifetime anomaly. These things happen a lot. Trend lines are free! Learn how to draw them and they will serve you well!

    March Soybeans

    As Always
    Pray Hard & Trade Safe!

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