Sorry for the typo’s and mis-spellings

Wow, its 2 am, and I just finished re-spell checking and editing a lot of my first 100 or so posts. I didn’t realize that I had been doing a spell check, and then not saving it properly before I published the entry.

I really hate miss spelled words and poor grammar. Its a pet peeve of mine. If you the reader are going to take the time to read my entries, the very least I can do is provide an easy reading experience.

I hope in the future, there will be better content, better style and more enjoyable reading for you to enjoy and […]

A note of thanks to my current subscribers and future readers

Just a quick note of thanks to my current subscribers. I began this blog about six weeks ago. I started keeping track of visitors and subscribers only about a month ago. So far, the growth has been promising, with an initial viewership of about 5 a day, I am averaging 40 a day, or about 300 a week.
Small beginnings, but with your support and help hopefully I will be able to contact more interested readers with good thoughtful content, insight into certain trading formations, market moves, with specific ideas as well.

My first job, while I was learning to trade back in the Mid-America […]

Gold Settles at New Record High To Round Out the Week

Today we had an impressive settlement, as Gold fought off earlier weakness to settle at 1,115.20, a new all-time high settlement. For the day we opened at 1,145 posted a high at 1,151.50 and a low at 1,132.50 for a 20 dollar trading range.
Silver opened at 18.54 posted a high at 1859.5, a low at 1803.5, and a settlement at 1805.0.

Moving on to the Stock Indexes, we had a nice recovery, once again, as the markets mimicked Thursday’s action. The Bears pounded on the stocks early, couldn’t get any follow through, and spent the rest of the day selling 30 tick breaks, only […]

Morning Seeing Red

All the contracts I look at are in the red this morning, except for the lone bull, Jan Beans. These beans look bound and determined to explore the space above 1050… The contract has pretty much dis-associated itself from the crude oil. For about a year, we moved in sync with crude, but for the past several weeks that direct relationship looks to be more of a passing connection currently.
Crude is down 70 cents at 76.65 currently while Jan Beans are up 6 cents at 1045, zoning in on the over night’s session high print at 1050.
There is a very strong tendency […]

Its All Relative At These Higher Prices

I listened yesterday to the radio after the close. By accident I happened to listen to the nightly business report and just noticed how inherently bearish the reporting can be. Yesterday the Dow “had a rough day” closing over 100 points lower. We have rallied 4000 points off of the most frightening down move we’ve seen since 1987 or 1932, yet a 100 point down move when the index is between 10000 and 10300 is reported as “a gigantic down day”. Seems no one in the reporting business has a concept for percentage moves anymore.
Also, a cursory observation of trading ranges in the stock […]

Thursday Ended Better Than Expected

Both the DJZ and SPZ stock indexes rallied back after sharply lower moves. At one point the Dow Futures were close to 150 points lower but displayed a nice 100 point comeback to end the day lower but not nearly as low as it had looked.
ON the Charts, there is support in the DJZ at 10,111, 10,011 and 9912, if the bears can sink their teeth into this rally and really give the bulls some pain.
In the SPZ, we have a Nov 16 high at 1112.25, and a double bottom on the daily charts at 1026 on Nov 2 and Nov 3. Looking […]

Markets Rebound Slightly From Earlier Losses

Its 1243 CST and this is my afternoon update.

We have seen bounces back from our earlier lows in the grains as well as the stock indexes.
Currently, Jan Beans has a day session low at 1024, and a day session high so far at 1048 1/2. An impressive rally off of overnight weakness where we had a low print at 1016. 32 cent range equals volatility in any one’s book. The high so far is 1/2 cent away from yesterday’s high at 1049. No doubt there will be some activity if we can pop above the strike price at 1050. Above 1050 there is […]

Importance of the 50 percent retracement

A quick update about the importance of the 50 percent retracement. Its simple, easy to remember and it works on long term moves as well as intra-day moves. It is a magnet, and serves as a fulcrum, or the balance in-between the see saw of the market.
Overnight, we had a high in SF at 1034 and a low at 1016. We opened at the half way mark at 1024, tested in twice, and it served as the jumping off point for a nice ten cent move higher. Conversely, if it hadn’t held, it would have been a good spot to flip short, if we […]

Can AnyOne Say “Short Term Correction” ?

It seems that we have some profit taking across the board. After ten to twelve straight days of rally, we were overdue for a pullback. Its a natural ebb and flow, and for now,it looks like it should be a typical market re-trenching. Not so much fun if you just got long and are looking at losses.. Short term or not, losses are no fun, and not why we are trading.
I did some basic technical analysis, my favorite type.
Overnight and so far today we have had lower trade across the indexes as well as the grains.
Support levels should be at the […]

Grains Can Not Hold On To Early Gains

The Grains could not hold on to early gains. The Wheat finally ran out of buyers at a new high of 583 1/2, then promptly melted 20 cents to settle on its low at 565 1/2.
Jan Beans led the way this morning, posting a new 3 month high at 1049.. It couldn’t get the 1050 print, and then had a gradual melt through the afternoon down to the 1025 level, bounced ten cents higher and then chopped through that ten cent range in the afternoon to finally settle -1/2 cent on the day at 1029.. A definite bearish hook reversal, where we had a […]