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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.
Dec 15, 2007
- Congratulations to those of you who 'listened' to my comments all day...
eMini Futures Results:
Russell ER2 +$60
S&P ES +$350.00
Congratulations to those of you who 'listened' to my comments all day. I realize many of my members take off early on Fridays for obvious reasons but for those of you who hung in there, a reward was to be had. A small fortune was made shorting the market today. It was really easy to make $$ today. We can't say that every day but these patterns repeat themselves and you 'hear' me say that all the time. Patterns do repeat until broken. Each bounce was sold. In fact, you could have sold short at any level, making $$ today. Overall it was a great week of day trading.
Have a good weekend and see you Monday morning.
posted by OEX : 3:03 PM
Update
Just keep saying to yourself "the least path of resistance is to the downside" and you'll do great today. There is just no reason for any sustainable advance. But there are many reasons for profit taking. The net declining volume on the NYSE continues to set new intraday lows. If you're wondering what that means -- There is more volume on the sell side than there is on the buy side and this pattern continues to increase. Again, there is no reason to remain long ahead of the weekend.
Stay tuned.
posted by OEX : 12:25 PM
Update
The bulls are trying to put something together but it's not much. Market internals continue to trend lower. I expect any and all market bounces to get sold. Notice how much longer it takes the S&P futures to advance a few points than it does to fall the same amount. There is no catalyst. Least path of resistance is to the downside.
Stay tuned.
posted by OEX : 9:28 AM
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....
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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.
