Wednesday, July 14, 2010

Emini Futures Trading / Rally In China's Hands - Really?


“Grace and peace be yours in abundance through the knowledge of God and of Jesus our Lord. His divine power has given us everything we need for life and godliness through our knowledge of him who called us by his own glory and goodness.”
II Peter 1:2-3

Do You Know Him?

China will likely move stocks on Thursday, as Beijing floods the market with a slew of important economic data. Expect to hear about China’s CPI, GDP, industrial production data as well as other revealing economic data. (I don't make this stuff up - click the link)

What should you expect? Well, with Wall Street looking to the Great Wall for guidance, may I humbly suggest we all start looking for Jesus and perhaps brush up on our Mandarin...

Maiden Lane and the Fed's Credibility by Robert Salomon

As part and parcel of the JP Morgan/Bear Stearns deal, the Fed acquired a host of assets that were packaged into what would become known as the Maiden Lane portfolio. The Maiden Lane portfolio housed approximately $30B “worth” of assets, and at the time the Fed claimed the assets were solid, credit-worthy, and investment grade. That was then. This is now. And this is starting to look like a case in which it’s debatable whether the ends justify the means... More »
Weekly Trading Zones / Daily Results
The red arrow is the candle we were discussing as we closed out the show and asked if you had anything in your toolbox that might possibly suggest a short... Well did you?

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Page Trader Daily Results


          R.B.I. Trader's Update

               7 / 14 / 2010

          (Published Since 1996)


Dateline: 6:52 pm eastern time, 7/14/2010

The market opened lower on Wednesday and the ES dropped to
the 1086.00-1085.50 support and bounced. The move from
1085.75 fizzled after bouncing 1089.50 and they dropped one
more time to 1084.50 before turning back up. A rally to test
the Tuesday high failed 2 ticks below it at 1095.50, and
after making a 1-2-3 top the ES started a 12 point drop to
1083.50 by 2:30pm. Another wedge pattern formed on the
bounce to 1090.75, and the break lead to a drop to 1086.25
with 15 minutes left in trading. That 1086 area turned into
support and the market bounced back into the close.

The market was sold pretty hard on two tries to get through
the 1096 level on the ES. However, after gapping up on
Monday, that 1084.25-1083.50 has been defended on both
drops. So we have a trading range, and if that 1084.25-
1083.50 area is not defended, then a (Click Here)

Pray Hard & Trade Safe!

Home of the "One and Done" Emini Strategy

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