Mohan 05/01/04
Enviado: 5/1/2004 10:24Welcome Back to the Morning Call and Happy New Year! We are going to watch the markets today for a reaction to the early morning Hour One low and also the High Five. The Market Force indicators will begin to kick in as volume returns in force with the New Year. Be Patient, No Trades today.
Trade Setup Summary for Friday, January 2, 2004:
No Headline Call or TCF Setups for Friday. We had a nice sell off from the BreakOut which opened up the ranges a bit.
Recap of Friday's Action:
Good Morning and Welcome back from the Holidays.
I hope it was a restful Holiday and you were able to recharge your trading batteries and neurological system a bit by being out of the trading action. I sure did and it is a vitally important part of trading.
Thank you for your kind and generous Christmas and New Year wishes you sent. We are looking forward to a great 2004.
No Headline Call or TCF setups for last Friday. We were still on holiday.
Below is the plan for today.
Today's Call & Briefing:
As we are stating on the Headline Call, let's watch today's action and be looking for a reaction to the lows.
Some (and I say some) of the Market Force indicators are calling for higher moves off the lows put in early today but I do not have the full data to make a clear call until we get some more information from today's action. Even with today's data and reaction to the highs and lows I will behind by a few days as the data from full trading action days starts to build.
I feel there is a good chance we will be trading tomorrow (Tuesday) with the Hour One Pivots and want to wait a few days before using any of our Buy/Sell Pivot targets.
So for today we will be watching and researching all the reactions with the High Five, Hour One pivots along with the Dow and NAZ (our nickname for the Nasdaq composite index) to see how things mold together.
Should be some good trades this week.
Value Area: 1,108.80 - 1,118.00
Watch this area today for support and resistance. If they open below the Value Area and can't seem to climb back into this zone then it is a bearish sign. Not being able to hold above the 1109.00 area could also possibly be a sign for short term weakness over a longer period then just one day.
Buy Pivot Target: 1,102.25 - 1,103.25
No trade at this pivot target today.
Sell Pivot Target: 1,116.75 - 1,115.75
No trade at this pivot target today.
10 Day "Pit Bull" Moving Average: 1,098.10
We are on CROSSOVER ALERT with the Pit Bull today and if strong weakness sets in after Friday's plunge off the BreakOut at 1118.00 then we could see a move down here.
If the market is still bullish then we would look for prices to STALL here at the Pit Bull and find support. Watch for this reaction.
Pro Trader's Action
OK, so we are back into the action and for today we are going to be observing the markets movements around the various Buy/Sell Pivots, Hour One Pivots and the associated movements of the High Five indicators with these pivots.
We have intelligently waited out the low volume, low range holiday period like total PRO TRADERS and now we are going to let the market start to show it's colors.
Once you really decide to go pro with our TCF Methods you will be very willing to wait to trade like this. Being over anxious to trade is not a good sign. We always want to let the market reveal itself as much as possible, find the right patterns and nail the obvious ones with a trade. In this way we can make the most shrewd and calculated trading decisions as possible at the right time and right price.
I am looking forward to a very exciting year ahead and hopeful that these ranges will open up and we will get some serious action going. It will be great working together with you to show how we can make some good dough$ earning our daily paycheck by hitting these TCF setups.
All the best of luck and success this week. Mohan
Trade Setup Summary for Friday, January 2, 2004:
No Headline Call or TCF Setups for Friday. We had a nice sell off from the BreakOut which opened up the ranges a bit.
Recap of Friday's Action:
Good Morning and Welcome back from the Holidays.
I hope it was a restful Holiday and you were able to recharge your trading batteries and neurological system a bit by being out of the trading action. I sure did and it is a vitally important part of trading.
Thank you for your kind and generous Christmas and New Year wishes you sent. We are looking forward to a great 2004.
No Headline Call or TCF setups for last Friday. We were still on holiday.
Below is the plan for today.
Today's Call & Briefing:
As we are stating on the Headline Call, let's watch today's action and be looking for a reaction to the lows.
Some (and I say some) of the Market Force indicators are calling for higher moves off the lows put in early today but I do not have the full data to make a clear call until we get some more information from today's action. Even with today's data and reaction to the highs and lows I will behind by a few days as the data from full trading action days starts to build.
I feel there is a good chance we will be trading tomorrow (Tuesday) with the Hour One Pivots and want to wait a few days before using any of our Buy/Sell Pivot targets.
So for today we will be watching and researching all the reactions with the High Five, Hour One pivots along with the Dow and NAZ (our nickname for the Nasdaq composite index) to see how things mold together.
Should be some good trades this week.
Value Area: 1,108.80 - 1,118.00
Watch this area today for support and resistance. If they open below the Value Area and can't seem to climb back into this zone then it is a bearish sign. Not being able to hold above the 1109.00 area could also possibly be a sign for short term weakness over a longer period then just one day.
Buy Pivot Target: 1,102.25 - 1,103.25
No trade at this pivot target today.
Sell Pivot Target: 1,116.75 - 1,115.75
No trade at this pivot target today.
10 Day "Pit Bull" Moving Average: 1,098.10
We are on CROSSOVER ALERT with the Pit Bull today and if strong weakness sets in after Friday's plunge off the BreakOut at 1118.00 then we could see a move down here.
If the market is still bullish then we would look for prices to STALL here at the Pit Bull and find support. Watch for this reaction.
Pro Trader's Action
OK, so we are back into the action and for today we are going to be observing the markets movements around the various Buy/Sell Pivots, Hour One Pivots and the associated movements of the High Five indicators with these pivots.
We have intelligently waited out the low volume, low range holiday period like total PRO TRADERS and now we are going to let the market start to show it's colors.
Once you really decide to go pro with our TCF Methods you will be very willing to wait to trade like this. Being over anxious to trade is not a good sign. We always want to let the market reveal itself as much as possible, find the right patterns and nail the obvious ones with a trade. In this way we can make the most shrewd and calculated trading decisions as possible at the right time and right price.
I am looking forward to a very exciting year ahead and hopeful that these ranges will open up and we will get some serious action going. It will be great working together with you to show how we can make some good dough$ earning our daily paycheck by hitting these TCF setups.
All the best of luck and success this week. Mohan