Saturday, June 12, 2010

Emini Futures Trading / The Weekly Gold Digger


"For He chose us in Him before the creation of the world to be holy and blameless in His sight" (Ephesians 1:4, NIV)
Did you know God had a plan for you before the foundations of the earth? He created you to be holy and blameless in His sight. Why? He chose you to be His ambassador, His representative on the earth. God created you to reflect His glory. He created you to reflect His character, His righteousness, His holiness. Think about that for a moment. Part of your purpose on this earth is to be a representative for the King of kings and the Lord of lords. That should make you want to walk a little differently. It should make you want to talk differently. It should make you think a little more carefully about the places you go and the things you do.
Are you representing God's holiness today? Remember, God will equip you to do whatever He's called you to do. If there are things in your life that you need to change, God wants to empower you to overcome those things. Receive His strength and might today so that you can walk in holiness as His ambassador and live the destiny He has prepared for you.

The Weekly Gold Digger

The August Gold has reached a high this week of $1254.50 and a low of $1212.10.  I look for support around $1226.00.  I would be a buyer in this zone, but with a defined stop loss.  We remain in buy mode unless the Gold Market penetrates $1189.10.  If the market does not retreat, I look for a potential $1263.00 next week.  Those who hold long positions may want to trail stops to protect any accumulated profits.  While I am long term bullish this market, it is essential to have a trading plan with worst-case scenarios in mind.  Once you accept the risk of the trade, then all you need do is follow the plan.  Intra-day trading, we do bracket our trades with precise stops.  The use of stops, while prohibitive may allow an account take smaller losses during some very large market moves.  To live to trade another day!  The use of options with futures positions and/or option strategies may again keep the risk at a specific level.  While I am cautionary during these economic conditions, my long-term objective on the Gold Market into 2010 was $1365.55 or higher prior to the new tax on import rule from India.  Now we may find the market potentially could climb to $1326.00.  Gold is still a Safe-Haven market that seems to hold value during most economic conditions.

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New Potential Trades and Trade Follow-up:
An example of a potential trade set-up - Bull Call Spread!
Buy August Gold $1245.00 Call while you simultaneously Sell the August Gold $1275.00 Call for a premium of 10.  The risk would be $1000.00 plus commissions and fees.  The potential profit approximately $3000.00 less commissions and fees.  The expiration is July 27th, 2010.  The market must reach $1275.00 to target maximum profit potential.

For those traders that wish to participate in the Gold Market with a defined risk.  An options strategy would potentially work better than a futures position.  The Buyer of an option pays a premium for the option, which is a right to a long (Call) or short (Put) position in the futures market at their selected strike price.

The premiums of the Gold Options may be inflated after the increased volatility and market move. 
Aggressive & conservative traders may stand aside until the market has retraced.. 
Please call for finer tuned trades daily.  
(read more)

Page Trader Daily Results

Trade Stalker Daily Results

This is the TradeStalker's Trial Edition.

HOW OUR DAY WENT: The lower open was reversed from just

under the 1072.50 support and went right to the 1083.00-
1084.00 area (1084.50 early high) before pausing. Then a
little 123 top formed and the ES dropped back to the
1076.00-1075.50 "pivotal area" and quickly reversed back
up. Then the market went range bound but pullbacks held
the 1076.00-1075.50 pivotal area and the ES ran up to the
1087.50-1088.25 resistance (1088.25 high) and then backed
off into the close.

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