Trade and Commentary Wrapup - 20080630

The following is a wrapup of all my market calls and trade posts for Monday, June 30, 2008.

Instructions for Use:

When following along in the chatroom, futures posts are done most often as support / resistance calls with support as buy and resistance as short (or closing out open positions from the other direction. These are pivots. Other patterns are posted according to the pattern forming, such as the Avalanche on the NQ below, and a link showing how to trade the pattern is posted.

Stock calls are breakout patterns unless otherwise stated with bases at highs as buys and bases at lows as short. We use the following template:
http://tradingfrommainstreet.com/images/roomexamples/BREAKOUT_TEMPLATE.gif

There is a link giving instructions for accessing this free chatroom on the lower left side of the page at http://www.tradingfrommainstreet.com/


WRAPUP

09:14: Toni first real day back to trading in about a week so I will probably take things a bit slow today

09:22: Toni Monday, June 30, 2008
09:22: Toni 9:45a.m. Jun Chicago PMI: Previous: 49.1.
09:22: Toni 10:30a.m. Jun Dallas Fed Mfg Production Index: Previous: 5.5.

09:38: Toni HES nice daily for more upside today so its on my long watch list



09:41: Toni data out in 5 min
09:47: Toni chicago est was 48, came in at 49.6
09:49: Toni no trades yet for me today

10:00: Toni NQ coming into premarket lows here
10:05: Toni ES at premarket lows



10:10: Toni GMXR basing at highs
10:56: Toni GMXR on the move
10:59: Toni first resistance in here
10:59: Toni 75.65 high
11:00: Toni 75.37 last
11:00: Toni 75.58
14:50: Toni GMXR was a nice continuation



10:14: Toni CLF- gonna keep an eye on this for upside a little later out of this congestion
10:26: Toni CLF broke
10:40: Toni CLF resistance



11:21: Toni APOL has a "D" short setup on the weekly time frame



11:27: Toni futures testing resistance from friday 15 min highs
11:47: Toni futs coming into first support



12:25: Toni 12:25:25 Market Alert: nq 5 min avalanche forming
13:06: Toni about 1855 is the equal move zone on the NQ avalanche
13:09: Toni NQ support zone
13:12: * Kaizen ---- out nq @ 55.00 :----



13:43: Toni futs coming into some support again here

13:54: Toni nasdaq back at morning lows



15:09: Toni ES and YM do look like reverse cup with handles
15:09: Toni 15 min avalanches
15:09: Toni still a little early though
15:09: Toni so will see...