Thursday, July 15, 2010

Emini Futures Trading / The Do Over


“Have mercy on me, O God, according to your unfailing love; according to your great compassion blot out my transgressions. Wash away all my iniquity and cleanse me from my sin. For I know my transgressions, and my sin is always before me. Against you, you only, have I sinned and done what is evil in your sight, so that you are proved right when you speak and justified when you judge.
Create in me a pure heart, O God, and renew a steadfast spirit within me.”
Psalms 51: 1-4, 10

The Do Over
Everyone likes it fresh. Subway says, “Eat Fresh!” I personally like fresh-baked bread. Fresh clean-smelling towels. Fresh-cut flowers. Fresh-grown vegetables. Fresh ocean breezes. God is into giving us a fresh start. In Psalm 51, David has just been dealing with guilt. He comes to understand the grace of God as he recognizes that God allows him to make a fresh start. David also realizes that God can create a “Genesis,” a new beginning from the pain and from the mistakes of his life.

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Carlyle Group takes its vitamins. Carlyle Group agreed to buy vitamin and nutritional supplements maker NBTY Inc. (NTY) for $3.8B in cash, marking one of the largest leveraged buyouts since the credit crisis began. The $55/share offer is approximately a 57% premium to NBTY's 30-day average closing price.

Goldman, SEC in settlement talks. Goldman Sachs (GS) and the SEC have reportedly held talks about a catch-all settlement that would resolve both the fraud case against the bank and some of the SEC's lower-profile probes into Goldman's mortgage department. A combined settlement was Goldman's idea and it may end up agreeing to a fine of $1B or more, as long as the case doesn't end with a civil fraud charge.
Weekly Trading Zones / Daily Results 
Today's Red Arrow End of Show Trade while not as stout as yesterday's offering, did offer up some decent profit potential as price reached our resistance area. We have a potential Price Channel forming on the the YM 30 min chart. The 3rd and final chart reflects the discussion Burt and I had today on the bigger picture daily setup.

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Pray Hard & Trade Safe!

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