View this video on YouTube Here
“If someone is going down the wrong path in life…they don’t need motivation to speed up…they need education to turn it all around.”
Reflections from Today:
· Last Night:
o Mini-Russell BUY hits profit-target
o Gold trades sideways, sit-on-hands
o Crude Oil never pulls back, no trade
o Crude Oil; +133ticks (+0.33%) @ 102.95
o Gold; +141ticks (-0.80%) @ 1311.6
o Mini-Russell; +169ticks (-0.91%) @ 1148.1
o Crude Oil & Gold react to FOMC Minutes
o Equities testing all-time highs
o OPEX: Wacky Wednesday today
o Housing Starts: 16% drop M/M
o FOMC Minutes: Debate over Tapering
o API# for Crude Oil: -470k (1st draw in 5 weeks)
· This Day In History
o Feb 19th 1968: First nationwide airing of Mr. Roger’s Neighborhood in the US
o Feb 19th 1878: Thomas Edison receives patent for “tin-foil talking phonograph”, known as the modern day record-player, was first to record sounds.
o Feb 19th 2008: Fidel Castro resigns as President of Cuba after 49 years; his brother Raul succeeds him as president
o China: Manufacturing @ 8:45pm EST
o Europe: Manufacturing @ 3:00am EST
o US: Jobless Claims, Philly Fed Survey, Crude Oil Inventories
Economic News for Tomorrow:
|News for Tomorrow|
We begin this evening with manufacturing news from China at 8:45pm EST, followed by manufacturing news from Europe tomorrow morning starting at 3:00am EST. Who said you can’t trade the overnight session? You will have plenty of opportunities this evening and into tomorrow morning.
Tomorrow morning in the US session we have more Red-Star News on the schedule starting with 8:30am EST Jobless Claims, and then later in the morning we have the weekly Crude Oil Inventories report due out at 11:00am EST.
Remember, we are still inside of OPEX week, and tomorrow is Thursday so we must be aware that volume will be a bit inconsistent as traders prepare for OPEX on Friday.
In addition, if you are trading Crude Oil tomorrow you need to be patient to wait around 11:00am EST when they release the weekly Inventories. I recommend our students to sit-on-hands 15-minutes before and after the news comes out, and to stay patient waiting for the new ‘direction’ after 11:00am EST.
8:45pm EST: (CH) Manufacturing Index
· 3:00am EST: (EUR) Manufacturing Index
· 8:58am EST: PMI Manufacturing Index
· 10:00am EST: Philly Fed Survey
· 10:30am EST: Natural Gas Inventories
· 11:00am EST: Crude Oil Inventories
Day trading plan for Tomorrow:
Crude Oil traded higher for the 3rd day in a row today, ending the session right up at the highs near the big-round-number of 103.00. One big clue we see on this chart is the volume, which is near the middle to lows of today’s range, suggesting that something surprised the markets late in the session today and pushed the price-action to the highs.
My plan for tomorrow is to look for buying opportunities above the 103.05, and selling opportunities below the 102.11. If we can get short tomorrow morning our profit-target is below at the prior week high at 101.09.
|Crude Oil 34 Anchor|
|Crude Oil 21-Anchor|
|Crude Oil 13-Anchor|
My plan for Crude Oil this evening and tomorrow is to buy the 102.63 and 102.24 looking for a profit-target up at the highs around 103.28 and 103.59. If we push below the 102.11 I am selling short down to 101.09.
|Gold VIP Chart|
My goal for trading Gold is to look for buying opportunities above the 1324.7 and selling opportunities below the 1317.0 with a profit-target down at the 1300.0 big-round-number below us.
My plan for gold is to sell the resistance levels overhead at 1315.7, 1317.2, 1319.5 and 1320.9 with a profit-target below us at 1305.3, 1300.0, and 1292.9.
|Russell VIP Chart|
My plan for the Mini-Russell tomorrow is to sell short below the 1145.7, and looking for buying opportunities above the 1162.6. Inside the range I will buy the lows and sell the highs, avoiding the middle of the range.
My goal for the Mini-Russell is to sell short at 1152.2 or 1155.8 and use the levels below me as profit-targets around 1147.3, 1144.0, 1140.9 and 1135.8.
Want to see us trade LIVE?
Click here to register for the Free Trial!
Click here to register for the Free Trial!
Automated Trading Strategy; Let the Computer do the trading
Are you a Crude Oil Trader? Click here to trade Crude Oil
Are you a Euro Trader? Click here to trade Euro
Are you an E-Mini Russell Trader? Click here to trade E-Mini Russell
Are you a Gold Trader? Click here to trade Gold
Join the Premier Live trade-room as an Advanced Member