Monthly Archives: May 2011

Price Action

Posted on 05/31/2011

We’re in the low volume time of the day. 1333.50 is the retest of Fridays pit session high. Price action later in the day, when NYC comes back from lunch, below this level will be negative. Metals…My only comment on … Continue reading →

A.M. Look 5/31/11

Posted on 05/31/2011

Some of the futures traders were taken out of their short S&P500 futures positions early last night. ETF traders should leave there stops in place. 1346.25 S&P 500 Futures is going to be a key level to close over for … Continue reading →

BTU…OXY…FXI…EEM…EWZ…BHP…AUD/USD…Metals…Russell

Posted on 05/27/2011

The following instruments are working on putting in outside reversal higher weekly closes. ( price positive formations) Closing #’s are as follows: BTU…61.18 OXY…103.85 FXI… 44.19 EEM …47.84 EWZ….73.61 BHP…95.66 Russell…839 The picture being painted is a very big RISK … Continue reading →

A.M. Look 5/27/31

Posted on 05/27/2011

We got the 2 day rally in the equity indices I was looking for. The Spu printed last weeks close, which was the price action I was expecting. The Bulls would like to see a weekly close over 1335 to … Continue reading →

Position Update

Posted on 05/26/2011

We have new people coming on board all the time. I will start with tomorrow’s A.M. update stating current positions on the bottom. It is important to understand that we trade rarely! Our focus is to keep our active traders, … Continue reading →

A.M. Look 5/26/11

Posted on 05/26/2011

This A.M. I have a distinctly you first attitude about any trades. The Gold and Silver have both hit major resistance levels last night with Silver rejecting a 30% retrace of the entire break @ 39. 36.23 will now become … Continue reading →

Pattern Alert…Russell…Dig

Posted on 05/25/2011

A close for the Russell above 81890 puts in an outside reversal day to the upside. A close for DIG ETF ( ultra oil & gas) puts in an outside reversal day to the upside. This one comes with a … Continue reading →

EUR/CHF

Posted on 05/25/2011

Dr. Nenner put out a 122.40 downside tgt. on this cross mid month. I am mentioning this for several reasons, first the condition of the market, this cross is getting very oversold on the very long term time frames,second EUR/CHF … Continue reading →

A.M. Look 5/25/11

Posted on 05/25/2011

Risk off continues with Short Euro or Aussie vs. Long Gold. Gold and Silver are both lower on the month and extreme care should be taken watching your short term technical levels. The concern being that with the U.S. Dollar … Continue reading →

A.M. Look 5/24/11

Posted on 05/24/2011

Be patient today and wait to trade on your own terms. 141.60 ish Euro seems a low risk level to try and sell today with a tight stop. It is a little early to tell whether or not the Spu … Continue reading →