Emini Futures Trading / QE3 Anyone?

E-Mini S&P 500: Earnings take us over the top!

We have about 35% of the earnings reports in according to Thomson Reuters and 76% so far are better than analysts anticipated.  UPS rose 1.2% to $74.49. Shipping companies represent the barometer of business as they deliver goods internationally. 3M rose 1.9% to $95.94.  Ford Motor Co. was up 3.1% to $16.03. Looking forward to Federal Chairman Ben Bernanke’s commentary on the meeting tomorrow, we have some concern that any potential stimulus withdrawal may have a negative effect on the Stock Market.

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Emini Futures Trading / Markets Quiet Ahead Of Fed

E-Mini S&P 500: A quiet day ahead of the Fed!

The E-Mini S&P 500 post-holiday exhilaration seemed to fizzle even as New Home Sales rose 11.1 percent today! We were at an annual rate of 300,000 while February had been at a low of 270,000. Inflation is still playing havoc with the marketplace! Crude Oil prices hit a high of $113.48 having investors feel that the inflation fears will continue. This cost of doing business hurts some major companies such as Kimberly-Clark as they make Kleenex Tissues and Huggies Disposable Diapers.  These products are made with oil and with the high cost of oil their earnings projections are down.  Kimberly- Clark fell 2.7 percent to $64.24. The earthquake in Japan also affected production in the auto making industry.

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Emini Futures Trading / Good Wednesday

E-Mini S&P 500: A picture is worth a thousand words!

So here's a novella in .jpg format....

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Emini Futures Trading / Inside Day Drifts Higher

E-Mini S&P 500: An Inside Day of mixed views!

The E-Mini S&P 500 withstood the Standard & Poor’s credit rating agency on Monday cautioning that they may have to downgrade the US AAA rating in the US Treasury debt unless the Federal Government is able to contain the budget deficit within the next two years. The news broke and so did the market for that matter as the E-Mini S&P 500 had slipped to $1290.25. The market was fragile to begin with and volume has been light. In the meantime, the Fed still continues with the QE2 through June 30th  with sort of a “wait and see” attitude. It seems highly unlikely that any policy changes would take place this year.

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Emini Futures Trading / America's Downgrade

E-Mini S&P 500: Standard and Poor’s downgrades America!

To which I say “Who Cares?”

Its not that I disagree with their assessment — I do not — but I pay it little heed. It was much more important to me as an investor that PIMCO’s Bill Gross was out of Treasuries a month ago (and indeed, is short) than what S&P says. That was all any bond investor needed to know — no ratings agency necessary.

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Emini Futures Trading / Google Slips On Earnings

E-Mini S&P 500: Lagging reports equate to sagging market?

It is the earnings season and so far the corporate earnings seem to miss expectations. Google today came out today without hitting the forecasts expectations. The earnings forecasts for this year seems to be fraught with anxiety over readings that normally may give the market a boost. The Initial Jobless Claims rose 27,000 to a seasonally adjusted 380,000. Goldman Sachs is again in the news only this time, they are under a senate investigation. Goldman shares had fallen 2.9%.  Ford Motor Co. fell 1.8%.  It is said that the earthquake somehow hindered the earnings for automakers this year. Crude Oil prices are still high and may weigh on the market. Inflation is still an element of concern. Today’s PPI rose .7 % attributed to the energy sector. 

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Emini Futures Trading / GS Prophet For Profit?

E-Mini S&P 500: Self-fulfilling prophecies?

 Goldman Sachs talked and the market listened! No, this isn’t a commercial. News coming out on the wires last evening and this morning spoke of Goldman Sachs telling their investors to take profits particularly on Gold and the Crude Oil. What was difficult to figure out was if the market started the move down or the word from Goldman.  Yes, the prices were overextended!  The price of Crude Oil up around $110.00 did not make sense since we import the majority of our Crude Oil from Canada and Mexico. This market was fragile and just a signal from one of the largest wire houses caused the avalanche in the commodities sector.

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Emini Futures Trading / Zone To Zone

Day Trading Strategy101.  The 1^st hour of trading will tell you a lot!!

In the “training room” this morning our CFRN members were on HIGH ALERT. The 1^st hour of trading(0830-0930) was the qualifier. Depicted in the chart, a nice “doji” set up gave us a SELL SIGNAL to act on. 

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Emini FuturesCast / The Daily Pod 04/08/11

Our old friend Ben Lichtenstein founder of Traders Audio and regular guest on CNBC drops in for a quick visit. We recap our YM trade from Thursday night, our ES trade from Friday morning and chat with David from PageTrader about his upcoming seminar and webinar. Has the market found a top? 

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Emini Futures Trading / Yearning For Earnings?

E-Mini S&P 500: Traders yearning for good earnings?

The E-Mini S&P 500 is so close but yet so far from breaking through the resistance level of $1337.75! In truth, how could it? Today’s volume was again light. Why?  Our US Government is tied up in a budget meeting! If they do not agree on budget cuts and a funding bill, a shutdown is possible. Is it possible?  It happened in 1995. Although, we believe that some agreement may be made, the uncertainty puts many traders on the sidelines. Crude Oil prices ranging today $112.00 - $113.00 also may be pressuring the indices. We had an outside day extending on the downside just a quarter point beyond our anticipated tolerance support. Today, we had Chevron Corp.

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