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Mohan's Futures Morning Call

Autor: Camisa_Roxa
Data: 03-07-2003 01:33

No Headline Call today due to short trading day on the exchange. Abbreviated Morning Call for today.

Trade Setup Summary for Wednesday, July 2, 2003:
No TCF (21st Century Futures) Trade Setups today.

Recap of Wednesday's Action:
Good Morning and thank you for joining us today on this short scheduled trading day.

Our Headline Call for Wednesday was looking for a "sneak up rally" type day and that is exactly what we got. Prices moved lower in the early part of the session and tapped 982.00 as the first hour low. Later, pushing above the 10 Day Moving Average Pit Bull at 984.00 we saw the market start to grind higher as we had called for. There were 2 tests of this Pit Bull pivot that held and created new support.

The TICKs were banging on +1000 all day which is usually a sign of a reversal. However, with the holiday volume and such we need to see what Thursday and Monday will act like in relation to this.

When we got to the BreakOut Hour One Pivot (988.50 at 12:09 est) we had another mixed High Five. The B/D was one handle just below the Sell Pivot Target and we had cautioned shorting the Sell Pivot Target and suffering which would have been the case had you elected yourself short. At the time of the B/O the Dow was up near +60 with NAZ strong again up +29. TRIN was trading around .95 which is Neutral to slightly bearish according to our High Five table shown on the site. So overall for today there was really not a strong setup other than taking a chance and going long the B/O again. You could have grabbed a few points doing that but the risk was high. Better to leave these type of days alone as mentioned on Wednesday's briefing, go with the flow and take extra time off.

Hey, Being good at following my own advice I'm headed towards the beautiful California beaches today and this weekend...that's for sure.

Today's Call & Briefing:
No Headline Call today and an abbreviated Morning Call today. It's a short day with the exchanges closing at 1:15 so let's get some extra time off and let all those numbers sizzling around in our brains chill out some.

Value Area: 974.25 - 989.75
We expect the market will trade in this zone for most of the day. A move above the VA that holds is especially bullish.

Buy Pivot Target: 985.50 - 986.50
No Trade at this pivot today.

Sell Pivot Target: 997.00 - 996.00
No Trade at this pivot today.

10 Day "Pit Bull" Moving Average: 982.40
We have now successfully crossed over to the bullish side of this Pit Bull. We shall now maintain a "Buy Drops" mentality however we are still in the CROSSOVER ALERT mode. This means that as long as we are closing within 10 handles of this number we need to be aware of the potential to cross back over to the bearish side.

Pro Trader's Action
Today is a short trading day at the exchange so let's join the rest of the Pros and take some extra time off. No need to trade on these days where the volume is quiet. Sure there may be a big move of some type but it's not important.

Those of you who are new to our service can see the kind of action we are going to show you each day so be prepared to see lots of great trades. I sure appreciate your joining us with a subscription and reading my S&P500 Trading Handbook. Do me a favor and TELL YOUR OTHER TRADING FRIENDS ABOUT 21st Century Futures and your trading friend Mohan. They will thank you for it.

Have a great weekend and let's look forward to next week when I will lay out some amazing trading secrets to show you how to navigate these tricky markets we are in right now. I'll be doing some extra homework as we roll into Sunday night and will have an update on the state of things ready for your email box early Monday morning.

I appreciate you joining us this week and a special thank you again to all the new subscribers and traders that have joined us. All the best of success, Mohan

Se não receio o erro é porque estou sempre pronto a corrigi-lo
There's no bull side and no bear side. JUST THE RIGHT SIDE!
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Mohan's Futures Morning Call

Camisa_Roxa

03-07-2003 01:33

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O Clubeinvest.com informa que nenhuma da informação aqui facultada deverá ser entendida como conselho ou recomendação de qualquer tipo de transacção ou investimento.