Trade and Commentary Wrapup 20080715

The following is a wrapup of all my market calls and trade posts for July 15, 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

10:56 Toni: futs resistance 5 min 20 sma
11:05 Toni: market is going nuts
11:06 Toni: happy i guess that he is really pushing to open up oil reserves here
11:06 AoN: oil down 9
11:07 Toni: exhaustion move here on oil
11:08 Toni: Nasdaq gap closed
11:08 Paul_Strides: Oil is getting smashed
11:08 Toni: exhaustion here in market too
11:08 Toni: should see pace shift
11:11 Toni: futs held perfectly
11:32 Toni: futs initial support
11:58 Toni: futs back to resistance at highs
11:59 Toni: held initial support level and rounded off at it
11:59 Toni: was 5 min 20 sma
12:07 Toni: 12:07:23 Market Alert: 2T 5min futures
12:22 Toni: ES resistance 2 min
12:39 Toni: ES and YM both closed gaps
13:07 Toni: market becoming exhausted on the upside
13:09 jonathanpoon: is oil done?
13:10 Toni: not necessarily.. can still creep
13:27 Toni: first support
13:28 Kaizen: nice call, T
13:37 Toni: ty
13:59 Toni: futures have potential for two wave correction on the 5 min
13:59 Toni: would make it possible to rally into the close
14:46 Toni: futures not really showing a strong bias now into the close
14:47 Toni: would be more cautious on the short side
15:43 Toni: futs support

11:23 norancho: RGLD burying its head
11:23 Toni: yeah.. exhaustion gap on RGLD today
11:24 Toni: when you have a stock that gaps like that two days in a row you can pretty much bet that a third gap will fill

11:27 Toni: having a hard time finding good trade candidates too
11:27 Toni: SCHN and CSIQ possible on the short side
11:27 Toni: both have those extreme moves already this morning though which is a con

12:43 charlie: Toni..GM have any more upside in it left?
12:48 Toni: not for now

13:44 Toni: BTU range 5 min

14:45 Toni: TXT congestion low level

14:51 Toni: BBBY potential avalanche.. a con is the daily

15:05 Toni: GRMN range at highs