Roubos no retalho alemão batem recordes. Perdas rondam os cinco mil milhões

[Dwer]

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[Dwer]

Market to push higher again today after neutral day Thursday. Try to stay on the sell side with the correct TCF setup. Today may be a good day to stand aside.

Trade Setup Summary for Thursday, October 30, 2003:
Sell 1049.25 or higher/ Cover at 1042-43 area for up to +8 pts.

*Sell sell pivot target on resistance after pre market new month high put in (finally)

Recap of Thursday's Action:
The market is amazing isn't it? Almost like a Magic Show sometimes or an illusion of some sort!

Good Morning. We had described in detail the 2 scenarios about to unfold for Thursday which was for the market to make an attempt at a new Month high (which it finally did in pre market just minutes before the opening), pull back strongly off that new high (Thursday was more like a lightning crash), and show a neutral day after being up. All of this unfolded on Thursdays action but man, did you have to be fast.

We had recommended selling the Sell Pivot target upon seeing resistance at the new month High. We got the highs in after the open at 1052.60 on the big cars and then the prices came back to the Sell Pivot target while shooting down to the exact big support we gave you at the Buy Pivot/ Bottom of the VA at 1042-43.

You had to be fast but I know from the emails that many of you grabbed that short up there above 1050 and enjoyed a fast ride lower. You gotta love these instant cash$$ trades but you just can't expect them all the time.

The markets went flat all day from being up over +50 on the Dow briefly then fizzling out to the lower side then settling in the middle. Neither one of the Hour One pivots were hit Thursday fufilling our call pretty well.

I watched most of the later action on CNBC from my seat on Jet Blue Airlines on the way to Florida.

Almost 300 of our highly respected subscribers will be arriving tommorrow for our weekend "Illusion of the Markets" seminar and I will sure look forward to meeting you.

Today's Call & Briefing:
Please don't mind the abbreviated "Morning Call" today as I am preparing for the seminar from my hotel room here. In reality today is Friday and it is actually probably better to stand aside today.

After yesterdays fufillment of our call for a "Neutral day" we will probably be seeing prices rise for the next 2 days but there in a larger scale drop looming.

Our proprietary indicators are telling us to stay on the sell side today if you trade or stand aside. Unless we get a full on Bullish BreakOut buy set up or a push to extremes to the upside with the TRIN moving above 1.10 or higher I wouldn't be interesed in trading today.

So kindly excuse the shorter briefing today but even if I was at home with all my regular computers loaded and ready to fire I still would be heavily considering standing aside today.

Due to the end of the month action and the fact that TOO MANY BEARS ARE LOADED INTO THE MARKETS we can expect some higher movement upwards of prices inspite of our strong SELL SIGNALS coming from our 18 proprietary indicators. We just have to let the upside run it's course a bit more.

Buy Pivot Target: 1,043.25 - 1,044.25
No trade at this pivot today. Notice the strong support on Thursday in the 1042-43 area. Similar area here. Watch for more support. Trade below this is a bearish sign.

Sell Pivot Target: 1,053.25 - 1,052.25
It's tempting to recommend this price zone for a short but let's just watch this area today. If the prices "hang up" in this area then it is a sign they are going to push higher and ultimately try and fufill our first Goal up of 1061.00 mentioned on the last several briefings.

10 Day "Pit Bull" Moving Average: 1,038.60
Still strong support here which is holding so far. Means: Buy drops as they move higher until we cross over this price moving average.

Pro Trader's Action
Let's tend to play it a little more cautious today. It's Friday after all and with the end of the month bullishness coming in and the excess bears in the market the prices are looking to move higher.

If we can get long by buying the BreakDown then go for it. Otherwise, let's stick to the sidelines for today and see what kind of clarity we can get from today's action for Monday.

Have a great weekend and all the best to your families and loved ones who support you in this great trading business we are in...trading the fastest game in town, The S&P500 Futures. Mohan