The journey is the destination
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Tuesday, January 12, 2010
Monday, January 11, 2010
Market Notes, Jan 11, 2010
Summary
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Euro broke above and is consolidating above 1.4445 key resistance
Gold broke above and is consolidating above 1142 key resistance
NQ continues to act weaker than ES and will likely fill its gap up first.
Friday, January 08, 2010
Market Notes, Jan 8, 2010
Summary
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Gold and the Euro have both responded quite positively to the NFP report
This could put an end to the run-up in the markets today, we shall see what happens in the regular session.
Thursday, January 07, 2010
Market Notes, Jan 7, 2010
Summary
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Gold => starting to turn bearish
Euro => bearish
Currently ES is sideways, but has yet to show any signs of weakness. Buyers are in control because the chart shows zero indication of sellers taking control - thus far. That said however, tech is already showing weakness; so, I will monitor XLF and XLE for signs of breaking down, and also as my signal to go short.
Wednesday, January 06, 2010
Market Notes, Jan 6, 2010
In real estate it`s all about location location, location.
In trading, it`s all about discipline, discipline, discipline. And perhaps patience too.
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Gold continues to trend Up.
Euro is moving sideways neutral.
Tuesday, January 05, 2010
Market Notes, Jan 5, 2010
Summary
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Gold: ran to new highs overnight, but has given most of it back => slight bearish
Euro: ran to resistance, failed breakout => bearish
Looking to sell resistance 1131
Buy support if I see signs of buyers stepping in.
Look at Opening 5min. to determine bias
Monday, January 04, 2010
Market Notes, Jan 4, 2010
Summary
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Gold is above 1098 and 12/28 highs => bullish
Euro is above 1.4355 resistance, trying to break above 1.442 => bullish
NQ new contract highs => bullish
Unless I see some sell volume and/or failure at resistance, the mkt bias is up.
Sunday, January 03, 2010
Weekend Market Analysis, Jan 03 2010
3 Steps Towards Objective Observation:
- Ground your views in the market data; All views & market hypotheses must be derived from a complete review of market data
- ascertain the intraday market bias and sentiment trend
- Frame all trading ideas as a bearish and bullish "what-if scenarios"
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If overnight action is bearish, I plan to sell resistance
If overnight action is bullish, I plan to buy support.
Saturday, January 02, 2010
The Strategy
Successful speculation begins with Objective Observation
- Brian Shannon
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I am committed to taking the steps towards improved patience and discipline for 2010.
I have updated the morning setup portion of my Futures Trading Plan .
For the next 20 sessions, I will post a morning setup/note chart that encompasses the 5points highlighted in the plan. I will use it to provide the pre-requisite context to answer one and only one question: What is the market doing (going up, going down, don't know). Obviously if i don't know what the market is telling me, or if the market tells me that I have interpreted the charts incorrectly, there will be no trades, at least not until i have re-evaluated, and re-analyzed the chart.
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