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At OEX Street, our philosophy is: "Trading the Market with an Objective Approach". OEX Street has published real-time OEX options trades on the internet since 1999; making us an internet pioneer in OEX trading. In 2003 we introduced day trading of eMini futures, both Russell and S&P. After nearly a decade of hands-on trading, OEX Street has dispelled the myth of impulsive trading through the use of a mechanical approach. OEX Street removes the influence of emotion and increases the success rate, resulting in an objective, researched signal.
Mar 12, 2008
- Largest Market Rally in 5 Years...
OEXSTREET Produces Its Largest Win in 5 Years!!
Extreme
Volatility
Simple
yet effective trading style
Largest Market Rally in 5 Years
OEXSTREET Produces Its
Largest Win in 5 Years!!
If you're interested in seeing how we gained
$3,230 trading 10 contracts on the OEX index today,
continue reading the chronological record of today's
real-time broadcast.
Subscriber comment received late Tuesday:
"Well you did it again! You prepared us
for what could happen including areas of support
and resistance, then as though the market read
your email it did exactly what you prepared us
for. Following your signal we were able to ride
the call options for 8 OEX points! Another great
trade. Thanks. Todd D. Lafayette, Louisiana"
posted by OEX : 8:25 AM
Good Morning
The market is headed for a monstrous GAP to the upside.
In yesterday's closing comments I mentioned that "the
oex has remained below its 5-day average all month.
Even though economic conditions are poor, a bounce is
not out of the question."
Of course, the market was already pointing to a higher
open, but nothing compared to the spike that occurred
following news that the Fed will pump more liquidity
into the system by making up to $200 billion in cash
available to banks. The Fed will accept the bank's "junk"
as collateral? That's what I'm hearing.
Wow, and the very next news headline says we've escaped
a recession. It's all over now, bull market has begun!
NOT
What a joke! It's amazing how the media spins this.
SP Futures +28 and Nasdaq Futures +29.
See you in a bit.
posted by OEX : 9:00 AM
OEX Key Levels
OEX Key Levels chart has been updated.
posted by OEX : 9:24 AM
Update
The problem with gaps is the majority of the opportunitiy
came before the 8:30 open. So, how do we approach this?
Well, the Dow is at the underside of the 12,000 level.
That is certainly no surprise. Also notice the NDX (Nasdaq
100) has pulled back to the 1,700 support level following
the gap.
We discussed the significance of this 1,700 level yesterday.
Also we must believe that the powers that be will not
let this opportunity escape and they should continue
pounding the buy side, in hopes of causing a buying
panic - short squeeze.
Now, from our perspective as 6 1/2 hour day traders
we have to be extremely careful because a 4-point move
on the OEX, in either direction, could appear out of
thin air. When the move, such as this gap, is so large
any swing in price is expected to be magnified as well.
Our best bet is to wait for a break of either 604 or
600. This would give us a better idea of what is to
come.
Market internals are fantastic, but why wouldn't they
be with a 30 point S&P Futures gap?
If I were to guess, I'd say we'll see prices slowly
inch higher today even beyond that already obvious overbought
rally.
Still flat.
Stay tuned.
posted by OEX : 12:08 PM
Call Signal
***System Message Buy-Signal March 600-Calls OEY CT
on a break above 600.
Currently priced at $9.8 x $10.3 and 598.01
If filled, placing a stop at 596.
posted by OEX : 12:25 PM
Filled on Calls
Suggested Target Range 602.50 - 608
Very large target range because of the size of today's
market action.
Notice the pullback to the 597 key level. That area
represents approx 8 points from the high. I took 1/2
of that range and added it to the high to come up with
the top 608 level.
By no means am I stating that the OEX will climb to
608. I'm only outlining the chart.
OEX currently 600.13
Stay tuned.
posted by OEX : 1:10 PM
OEX Profits Reached !!
Patience pays dividends!
For those of you trailing a few contracts, we've raised
the trail stop to 600 (breakeven).
OEX currently 602.90
As a reminder, it's always wise to sell your Call options
into a rising market....
Stay tuned.
posted by OEX : 1:48 PM
OEX
Raising the trail stop to OEX 602 as we're at an intraday
high of 605.59
All signs point to higher prices as more short covering
surfaces.
Stay tuned.
posted by OEX : 2:00 PM
Update
As a reminder, the final target is 608. Keep in mind
it's a range. That doesn't mean that you should wait
for a print of 608 to sell. I think there is a strong
chance we'll see it but don't go for broke. As the Dow
approaches 12,100 I expect resistance. This means the
resistance may be reached prior to 608. Be proactive.
OEX to an intraday high of 606.99
Stay tuned.
posted by OEX : 2:36 PM
OEX
OEX through the final 608 target!
That was a fantastic trade. They threw a huge gap at
us and we made the most of it. We had a rough set of
trades last week but we've come back swinging and are
on top.
Patience pays off.
Earlier I received a message from a new subscriber who
already booked profits and went about his day. He stated
that the things he's learned here are:
1. No over trading
2. Discipline (letting the trade develop)
I know it's working because I hear from more and more
newer subscribers all the time who mention that they
do things so different now that they're a part of OEXSTREET.COM
that they did differently before. They traded 5 times
as often and were always at a net loss and couldn't
figure out why. Experience pays off and I'm glad to
share mine.
Once again, congrats!
Stay tuned.
posted by OEX : 3:00 PM
Closing Bell
OEX Option Results: +$3,230
I always say that it's important to let your profits
run and keep your stops tight during extreme volatility.
Otherwise, the risk is not worth the reward. Today was
basically some old school chart reading that helped
us achieve +30%. Most wins are singles. This was at
least a triple if not a home run.
I won't even begin to discuss the overall market and
how foolish investors are being. But, they learn the
hard way…they always do.
Have a great evening and see you tomorrow morning.
Recent volatility has presented many profitable ideas,
if you know where to look...
by Jospeh FORD - http://oexstreet.com/ "Trading the Market With an Objective Approach"
p.s. Membership to oexstreet.com now includes auto trading access to our russell eMini system, NUTUS ER....
Yes! I would like Join Your OEX Options Live Broadcast.
& You will receive instant alerts via Yahoo! messenger,
email alerts (great for your cell phones & PDA's),
and access to the password protected trade log.
Disclaimer:Please note
that charts and commentary provided by the moderator are for educational
purposes only. Any trades placed upon reliance on the moderator’s
charts or information is taken at your own risk for your own account.
Past performance is no guarantee of future results. While there is great
potential for reward trading stocks, futures and options, there is also
substantial risk of loss and you must decide your own suitability to trade.
Future trading results can never be guaranteed. This is not an offer to
buy or sell stock, futures, options or commodity interests. Most trading
systems are based on historical formulas which have worked in the past.
However, what has happened before may or may not happen again. You can
lose all your money trading stocks, futures, and options and you must
decide your own suitability as to whether or not to trade. Only trade
with true risk capital you can afford to lose. Only trade markets you
can properly afford to trade. Properly funded trading accounts typically
perform better than those that are not. Never risk more than 2-3% of your
account on any one trade. Always define your risk before entering a trade
and place a stop to limit your risk. There are
no guarantees or certainties in trading. Trading involves hard work, risk,
discipline and the ability to follow rules and trade through any tough
periods during a system’s draw downs. If you are looking for a guarantee,
trading is probably not for you. Most people lose money trading. One of
the reasons is that they lack discipline and are unable to be consistent.
A system can help you become consistent. Ironically, worrying about the
monetary aspect of trading can contribute to and cause a trader to make
trading errors. Therefore, it is important to only trade with true risk
capital.
