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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.
Nov 29, 2007
- These last two days have been the easiest this year to predict. It's as if the market is reading our commentary...
Closing Bell
OEX Option Results: No trade
eMini Futures Results:
Russell ER2 +$240
S&P ES +$312.50
We have to conclude that the bulls came to play ball today. It was imperative not to lose any of yesterday's advances. I noted this morning that the pattern over the past few weeks included the selling of any and all rallies. These patterns remain in tact until broken. The bulls needed to break this pattern today to make this +550 Dow Industrials advance from Monday's low significant. I noted today's movement would be dictated by 13,300 on the Dow Industrials and 2,100 on the NASDAQ 100. The charts clearly illustrated the significance of these levels. Today was quite easy to pattern but the low risk opportunities just weren't there. For example, I noted when the OEX was at 686 that we should see a bounce to 688. Then, I expected this area of resistance to induce a pullback. Sure enough, once the OEX reached 688 we saw the OEX pull all the way back to the Pivot near 684. Later I noted another opportunity was developing but opted not to issue a formal signal because I felt the reward was not worth the risk for the entire group here. The message was for Call options on a break above 686 and the target was 688 (again). Sure enough, late in the day we saw the OEX once again climb north of 688. Some of you sent messages to me with reports of your success. Congrats to those of you who were proactive and took the trades. It has been several days since we had a signal on the Russell eMini but today was just as good as any with a gain of $240 per contract. Trading the S&P eMini continued its success with a gain of 6.25 points today, taking the month's total to +65.75 points.
Have a good evening and see you tomorrow morning.
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.
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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.
