Mohan 25/03/04
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Mohan 25/03/04
Market Force: Bullish. Market appears poised to rally.
Trade Setup Summary for Wednesday, March 24, 2004:
1) B@1088.75/ sell up to -3.50 loss or less depending on speed of exit.
2) B@1086.50/S@1091.00 +4.50
3) S@1093.00/ B@1091.00 +2.00
4) S@1095.00/ B@1096.00 -1.00
5) S@1097.00/ B@1094.50 +2.50
6) B@1093.50/ S@1091.50 -2.00
TOTAL: +2.50
* copied from our 21st Century Futures "Live Update" service in real time.
These live trade signals were given today.
Recap of Wednesday's Action:
Good Morning and thank you for joining with us today.
Our Headline Call on Wednesday was to look for continued Bullish Market Force on early drops. The market pulled back strongly in the morning and caught support rallying off the lows as suggested.
There was an early report about a bomb found on a French Train which caused the markets to get volatile during our first Trailblazer trade and we could not cut our loss to the usual 1-2 points we wanted.
Upon re-entry though the markets took off to the upside and we were able to make back the loss and then some.
It might be asked: Why didn't you hold longer as the Headline Call was looking for bullish market force off the lows?
Answer is: We did hold out but our Trailblazer rules told us to take profits on a huge fast run up. We actually "missed" an extra point or two from the early high run up to the 1093.00 area as the market pulled back instantly from there and we got an honest hypethetical (required to say) fill around 1091.00. The market only moved 4 points higher from that high of that move so ...what can you do when you are trading the fastest game in town. You trade and survive.
On Tuesday's action we tried to hold out for "larger day trend moves" but we "missed" taking 4 points on one move because of it when Trailblazer signaled us to get out and take profits. So in this business often your "damned if you do and damned if you don't". It's just the nature of trading the S&P500 as the Pros who have been around know. The beginners are always saying, " You should've, could've taken more points" but they have never traded this action so it's all fine talk.
We are rolling on our NEW DAILY LIVE UPDATES SERVICE so come on over and join us for some very exciting trading of the Trailblazer setups, intraday commentary, updates on the High Five and other indicators and fast breaking news from my floor contacts.
The markets have changed now and the daily trends we used to see regularly have been replaced by erratic, double reversing markets which are best scalped in a systematic and proven way which our Trailblazer approach is.
Sometimes we will try and hold out for more of a Intraday Trend move but with Trailblazer setups occuring all day it's easier to grab those, use a tight stop, and take the profits as they come in.
Click on the STAR on our Home Page for more information.
A quick word on Trailblazer: A question came in today about Trading the CROSSOVERS. Well, we DO NOT trade the Crossovers but use those as monitoring the current trade off the 3rd level up or down along with using the Crossover to assist in MEASURING THE MOVE. Hope this explains this for you. More on the Live Service tomorrow. See you in the action.
Today's Call & Briefing:
We are continuing to look for bullish Market Force off the early lows and today we are going to be more ON ALERT FOR AN INTRADAY TREND.
We are more inclined to expect a strong rally today off of any early lows and will be monitoring the BREAKOUT BUY to see if we get the setup for that.
If we are fortunate and lucky we will have a lower early move (like Yesterday) with a Trailblazer formation that will keep us in the trade as they CHANNEL higher into the rally.
Not sure how this will pan out until we are in the live action but we will be on the LOOKOUT for this to occur.
Will they go lower? Maybe so. One more washout would be nice to fufill our 1078 goal lower number we gave you and PULL MORE BEARS INTO THE MARKET.
There aren't really enough yet it appears so we may have lower to go. Still, in spite of this there is a good chance for a rally today.
What's up with all this (all of a sudden) "Terrorism" out of seemingly nowhere? The snake is trapped and is hissing. Some will understand this. It's an illusion in many ways...just like the markets. Our job is to see behind the veil and trade the action.
We have to be careful with this event driven, surprise driven, news rigged markets scenario we are in. Soon it could all get discounted by the market. How odd...having such negative things taken in stride and "discounted"...Yikes.
We have Trailblazer to lead us where ever the market wants to go so let's have at it.
Value Area: 1,088.60 - 1,094.00
Trade into the Value Area that holds in Value and especially pushes above the top of the VA should be bullish for today.
Let's see if they can punch em back up over the 1100 handle and get moving higher. The High Five will tell their tale today.
Buy Pivot Target: 1,085.25 - 1,086.25
Look for continued support in here like on Wednesday. Stop/pivot (-4.25) comes in at 1081.00 today and if we get washed out down there it will be incredibly close to our 1078 goal. Bottom? Maybe so.
Sell Pivot Target: 1,097.50 - 1,096.50
Big resistance the last few days. Blowing through this to the upside is positive. +4.25 puts stronger resistance at 1101.75. Go markets. Let's see if we can get bullish today.
10 Day "Pit Bull" Moving Average: 1,106.60
We are closing in on this number if we can cross over the 1100 handle for sure. That would put the market in a potential opportunity to blow through the Pit Bull to the upside.
Hold on there. Things are still a bit glum and too many bulls. Not sure if they are quite ready to pop this today. Soon though. Very soon.
Pro Trader's Action
Keep buying the drops on LOWER OPENINGS and early moves lower.
We can get long if they BreakOut with the Dow flat (up +50 or less) with NAZ strong being up +14 or more. TRIN lower and VIX lower will assist.
Ideally we can get aboard a TB setup today and get a ride up the channel with the symptoms for holding long. I will give you details on the LIVE UPDATE SERVICE today.
Let's have some fun trading today. It's another day in the 4000 or so left in our career. See you in the action. Mohan
Trade Setup Summary for Wednesday, March 24, 2004:
1) B@1088.75/ sell up to -3.50 loss or less depending on speed of exit.
2) B@1086.50/S@1091.00 +4.50
3) S@1093.00/ B@1091.00 +2.00
4) S@1095.00/ B@1096.00 -1.00
5) S@1097.00/ B@1094.50 +2.50
6) B@1093.50/ S@1091.50 -2.00
TOTAL: +2.50
* copied from our 21st Century Futures "Live Update" service in real time.
These live trade signals were given today.
Recap of Wednesday's Action:
Good Morning and thank you for joining with us today.
Our Headline Call on Wednesday was to look for continued Bullish Market Force on early drops. The market pulled back strongly in the morning and caught support rallying off the lows as suggested.
There was an early report about a bomb found on a French Train which caused the markets to get volatile during our first Trailblazer trade and we could not cut our loss to the usual 1-2 points we wanted.
Upon re-entry though the markets took off to the upside and we were able to make back the loss and then some.
It might be asked: Why didn't you hold longer as the Headline Call was looking for bullish market force off the lows?
Answer is: We did hold out but our Trailblazer rules told us to take profits on a huge fast run up. We actually "missed" an extra point or two from the early high run up to the 1093.00 area as the market pulled back instantly from there and we got an honest hypethetical (required to say) fill around 1091.00. The market only moved 4 points higher from that high of that move so ...what can you do when you are trading the fastest game in town. You trade and survive.
On Tuesday's action we tried to hold out for "larger day trend moves" but we "missed" taking 4 points on one move because of it when Trailblazer signaled us to get out and take profits. So in this business often your "damned if you do and damned if you don't". It's just the nature of trading the S&P500 as the Pros who have been around know. The beginners are always saying, " You should've, could've taken more points" but they have never traded this action so it's all fine talk.
We are rolling on our NEW DAILY LIVE UPDATES SERVICE so come on over and join us for some very exciting trading of the Trailblazer setups, intraday commentary, updates on the High Five and other indicators and fast breaking news from my floor contacts.
The markets have changed now and the daily trends we used to see regularly have been replaced by erratic, double reversing markets which are best scalped in a systematic and proven way which our Trailblazer approach is.
Sometimes we will try and hold out for more of a Intraday Trend move but with Trailblazer setups occuring all day it's easier to grab those, use a tight stop, and take the profits as they come in.
Click on the STAR on our Home Page for more information.
A quick word on Trailblazer: A question came in today about Trading the CROSSOVERS. Well, we DO NOT trade the Crossovers but use those as monitoring the current trade off the 3rd level up or down along with using the Crossover to assist in MEASURING THE MOVE. Hope this explains this for you. More on the Live Service tomorrow. See you in the action.
Today's Call & Briefing:
We are continuing to look for bullish Market Force off the early lows and today we are going to be more ON ALERT FOR AN INTRADAY TREND.
We are more inclined to expect a strong rally today off of any early lows and will be monitoring the BREAKOUT BUY to see if we get the setup for that.
If we are fortunate and lucky we will have a lower early move (like Yesterday) with a Trailblazer formation that will keep us in the trade as they CHANNEL higher into the rally.
Not sure how this will pan out until we are in the live action but we will be on the LOOKOUT for this to occur.
Will they go lower? Maybe so. One more washout would be nice to fufill our 1078 goal lower number we gave you and PULL MORE BEARS INTO THE MARKET.
There aren't really enough yet it appears so we may have lower to go. Still, in spite of this there is a good chance for a rally today.
What's up with all this (all of a sudden) "Terrorism" out of seemingly nowhere? The snake is trapped and is hissing. Some will understand this. It's an illusion in many ways...just like the markets. Our job is to see behind the veil and trade the action.
We have to be careful with this event driven, surprise driven, news rigged markets scenario we are in. Soon it could all get discounted by the market. How odd...having such negative things taken in stride and "discounted"...Yikes.
We have Trailblazer to lead us where ever the market wants to go so let's have at it.
Value Area: 1,088.60 - 1,094.00
Trade into the Value Area that holds in Value and especially pushes above the top of the VA should be bullish for today.
Let's see if they can punch em back up over the 1100 handle and get moving higher. The High Five will tell their tale today.
Buy Pivot Target: 1,085.25 - 1,086.25
Look for continued support in here like on Wednesday. Stop/pivot (-4.25) comes in at 1081.00 today and if we get washed out down there it will be incredibly close to our 1078 goal. Bottom? Maybe so.
Sell Pivot Target: 1,097.50 - 1,096.50
Big resistance the last few days. Blowing through this to the upside is positive. +4.25 puts stronger resistance at 1101.75. Go markets. Let's see if we can get bullish today.
10 Day "Pit Bull" Moving Average: 1,106.60
We are closing in on this number if we can cross over the 1100 handle for sure. That would put the market in a potential opportunity to blow through the Pit Bull to the upside.
Hold on there. Things are still a bit glum and too many bulls. Not sure if they are quite ready to pop this today. Soon though. Very soon.
Pro Trader's Action
Keep buying the drops on LOWER OPENINGS and early moves lower.
We can get long if they BreakOut with the Dow flat (up +50 or less) with NAZ strong being up +14 or more. TRIN lower and VIX lower will assist.
Ideally we can get aboard a TB setup today and get a ride up the channel with the symptoms for holding long. I will give you details on the LIVE UPDATE SERVICE today.
Let's have some fun trading today. It's another day in the 4000 or so left in our career. See you in the action. Mohan
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Abraço,
Dwer
There is a difference between knowing the path and walking the path
Dwer
There is a difference between knowing the path and walking the path
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