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(1) The following attempt trade comments are delayed. (2) DMD Bulletin for tomorrow and Live trading room are only available to subscribers. (3) DMD Bulletin may be updated in WarRooms. (4) Past performance is not necessarily an indication of future performance. (5) There is risk of loss in trading futures and options. (5) Pacific Standard Time. 

( $ = Proven right direction. ! = 1 point stopped out. SP = sp500 future, NQ = Nasdaq futures.) 

October 2001

WEEKLY FREE TRIAL: every Wednesday

USER CODE: sp500, PASSWORD: guru


Attempt trade for 10/31/2001 Wednesday <>

Stop 1065, stay on the short short side. If GDP report is worse than expected (-0.8%), down side target 1044 following a gap down open at 1054; otherwise a bounce attempt day. From 1044 area, market should bounce 10-15 pts. 6:30 >>> GDP is better than expected, cover short; market will test 1073, if broken testing 1080-81. support 1056.

Attempt trade for 10/30/2001 Tuesday <$>

Trading range 1067~1077 before 8:47.

Before 8:47, we would try to short from 1077-79, target 1063.75; if 1060 holds, watch out for 15 points reversal.

[Result: High 1074.75, low 1053.50, close 1057.50]

Attempt trade for 10/29/2001 Monday <$>

It failed to close above 1106 on Friday, ready for a 20-30 points pull back from Friday's 1112.75 high.

Stop 1106.50-1107, scalp short side, target 1088, if broken then 1078 testing again before bouncing. If market found support above 1095 before 9:00, watch our for reversal up.

[Result: Day high 1103.50, day low 1073, close 1073.]

Attempt trade for 10/26/2001 Friday <$>

Trading range scenario: Trading range 1093-1106. If globex 1105 is intact after the midnight, try to scalp short side for 1094-93 target; then reverse to buy side for 1106 closing.
Profit taking scenario: If it opened 1107-1113 or 1113-4 was tested before 7:30, try to scalp short side for 1093-94 target. Keep in mind: Up trend is not over.

If 1092 is broken (then it will test 1086), doesn't mean it is the end of up trend; it is just a profit taking type of pull back.

<11:00 AM update> Two more trades for the rest of the day: Trading ranget 1103-1112. Stop 1102, buying bias, target 5-8 pts profit; stop 1113, selling bias, target 1106 close. If closed below 1106, Monday will be bearish.

[Result: Day low 1095, day high 1112.50, close 1103]

Attempt trade for 10/25/2001 Thursday <$>

Up trend is not over yet, major support 1075-1078; don't try to short aggressively. We expect SP to test 10/17 high 1110 area for this weekend. When the trend is up, pay attention to "support" instead of guessing the top. Don't try to short stocks.

Trading range 1092 ~ 1082. Buy low, Short at high <8:30 AM update> support 1067-68, buying bias, target 1085, 1091, and 1110 before 8:00 tomorrow.

[Result: Globex hi 1091.50, plunged to 1065.50 and reversed after 7:00AM, bounced to 1087, 1091 and closed 1103 close.]

Attempt trade for 10/24/2001 Wednesday <$>

Trading range 1092 ~ 1078. [Result: Globex hi 1099 (caused by news), day high 1092, day low 1080, closed 1085]

Attempt trade for 10/23/2001 Tuesday <$>

1087 pivot becomes support now. Stop 1086-87, buying bias, next target 1105 followed by a 10-15 points pull back.

[Result: Day high 1101.75, plunged to 1081.50, closed at 1089]

Attempt trade for 10/22/2001 Monday <$>

If there is no accident, sp will try to test 1083-1087 if this 1075 broken up side again. Stop 1069-68, scalp buy side, target 1083-1087 before mid-day Monday.

If 1075 is intact at Globex, it will be back to short side and stop will be 1075 area again for target 1060-1056. Mid-day Update: It would close at any day high.

[Result: Globex high 1073, low 1068, 1075 broken, day high 1094, closed 1093.]

Attempt trade for 10/19/2001 Friday <$>

Bearish Scenario: Stop 1074.25, selling bias (including globex risking 1 point only), target 1066, 1062, 1058. (possible gap down below 1066). Spike to 105x followed by a strong bounce If it opened gap down more than 10 points, get ready for a strong buy. <10:00AM update> Stop 1060, reverse to buying bias, target 1074 testing.

[Result: Globex bounce high 1074.50, opened 1069, low 1058.75, and bounced after 10:00 AM, closed 1072.50]

Attempt trade for 10/18/2001 Thursday <$>

If it opened gap up, sell off one more time for target 1065 before reversal back up.

Let's wait for the opening.

[Result: high 1082, low 1064.75, close 1074]

Attempt trade for 10/17/2001 Wednesday <$>

Bullish scenario: Tuesday's pivot 1096-97 is the support now, still buying bias (with caution), next target, 1113-15 (20 pts).

Bearish scenario: If 1106 is intact before the opening, watch out for morning profit taking. If 1096 is violated, then it will test 1090-88 again.

Opening update: Don't buy stocks today. Stop 1113, selling bias 1110-1112, target 1096, 1088; 11:30 update: stop 1096, selling bias, target 1082...

[Result: Globex high 1114.50, opened at 1110, day hi 1112, then plunged to 1088; afternoon plunged to 1075, closed at low]

Attempt trade for 10/16/2001 Tuesday <!>

Aggressive trade: try to use 1093.25 stop again, scalp short side to 1084-83. (Risk 0.75 only) Conservative trade: side line at Globex.

Attempt trade for 10/15/2001 Monday <$>

Aggressive trade: Stop 1093.25, scalp to 1082.50 for 1/2 profit taking target; if 1082 can not hold, it will test 1075-76.

Morning update: After 1080-82 profit taking. Stop 1081 stop, buying bias at 1082, target 1089-90, then 94-5 testing; expected close 1092-94. [Result: Globex high 1092.75, market plunged to 1080 and reversed back up to 1093.75, closed at 1092.50]

Attempt trade for 10/12/2001 Friday <$>

Expected Globex low 1095-1096.
If report is no worse than expected... more up side. if report is bad, it will be an excuse for profit taking for 20 pts pull back from any globex high.

Aggressive traders: Ready to scalp short, target 20 points from any globex high.

Update after retail sales report: selling bias target 1088, if 1087 broken, target 1072. After 1072, stop 1073, reverse to buying bias, target 1087 testing. [Result: Market plunged from 1100 to 1094, bounced to 1097, then plunged to 1087, then plunged to 1073, and reversed to 1087 and closed 1094]

Attempt trade for 10/11/2001 Thursday <$>

Trading range 1076-1095.

Support 1075-1078, buying bias. [Result: Low 1079.50, high 1102.50, close at high]

Attempt trade for 10/10/2001 Wedesday <$>

Expected trading range 1063-1047; expected a reversal after 10:00AM

Stop 1063.75 area, risk 1-1.50 pt, scalp short side, target 1055-56 testing at globex. If 1063.75 is intact and morning open is below 1062, try to short one more time. Target 1048 is still valid. Possible reversal day for up side after 10:00AM

Update 7:30AM: No more short, market is reversing. Stop 1070, buying bias 1071, target 1084-5 before close. [Result: Globex high 1063 our stop 1063.75, took 1/2 profit at 1057-56, low 1054.50, 2/2 stop out 1062.75; reversed to buy 1071, took profit 1079-1081; 1075.75 stop, buy again 1077, target 1084-5; close 1083 as expected]

Attempt trade for 10/09/2001 Tuesday <$>

Buy side scenario: Support/stop 1063, testing 1087-1090 if 1072 (resistance) is broken.
Short side scenario: Resistance 1072/stop, target 1064-63 testing. [Result: glboex high 1071.50, low 1063, open 1066, day low 1055.75, close 1059.75]

Attempt trade for 10/08/2001 Moday <>

Friday's index close is not good enough. Friday's bounce high 1075.50 will be resistance/stop for selling bias. SP01Z 1000 testing is valid now. After 1066-65 violation, 1071-2 would become stop.

Attempt trade for 10/05/2001 Friday <$>

Bearish (topping) scenario: Before Job report trading range 1077-1067. Aggressive trade: Globex stop 1077.50 scalp short to 1067 target then reverse to buy side (before job report). If this 1077.50 is intact at Globex, try to short again after the opening for 1068-67 testing (or target 104x if market sentiment is weark and 1063 broken; target 1000-1010 before next weekend.)

Bullish scenario: (more up side and topping next week) Support 1065 area, buying bias, (1077.50 pivot violation) for 1083-84 weekend close and more up side 1105-1115 on Monday-Tuesday. Reversal from (40-50 points) on Tuesday (October 9th) and target 1040 before October 16th. For either scenario Thursday's low 1068.50 will be tested after the opening.

Attempt trade for 10/04/2001 Thursday <>

Both NQ and SP are going to fill 9/11 gap.
Support 1063-66, still buying bias, target 1099-1105 (resistance area).
If Wednesday high is intact at Globex, for aggressive trader, try to short scalp to 1066-63.

Attempt trade for 10/03/2001 Wednesday <$>

Trading range 1062~1042.50 or 1060~1041.25
Globex support 1046.50-1046.75, scalp buy side, target 1060-62; then ready to reverse to scalp short side. (Keep in mind, short term up trend is not over yet.)
If your were short before Tuesday close, try to take profit at 1050+/- 0.5 area.
Conservertive trade: Wait for day session trading range 1062~1042.50 or 1060~1041.25 [Result: Day low 1041.25 as expected, high 1079.50, close 1073]

Attempt trade for 10/02/2001 Tuesday <$>

This is still a bounce. No sign of down side reversal yet. Still buying bias. target 1065 then 1085-87 hopefully before weekend. Major support/stop 1030, if broken, target 950-960 before next weekend.

Before FOMC announcement, trading range 1045-1035. Aggressive traders: Stop 1035, buy at Globex. IF 1035 is broken, side line and see if there is a potential topping. Watch out for a routine profit taking sell off after the rate cut Announcement. Mid-day update: Up trend is not damaged; still buying bias. [Result: Day high 1056, low 1035, close 1055.25]

Attempt trade for 10/01/2001 Monday <$>

Expected day trading range 1052-1032.
Buy side scenario: Since 1052 is valid, stop 1036.75, buy into 1051-52. At Globex, market will test 1037-38.
Short side scenario: Stop 1053.25, scalp short side,target 1032. Then get ready to reverse to buy side for Tuesday day FOMC.
After the opening: If 1045 is intact at Globex, watch out, market may get to 1032 first. [Result: Globex high 1045, low 1036, opened 1038, low 1028, close 1043]

Attempt trade for 09/28/2001 Friday <!/$>

sp01z 1000 held 3 days in a row, market turned up again with strong up side bias. 1039-1045 reinstated and is valid before end of next Monday. Friday-Sunday, BUY DIPS!! We might not see 1000 or 1010 again in next week. No matter what, 1000 can not be violated by 1 tick from now on. GDP report will be released at 5:30 AM PST. A weaker than expected GDP may trigger a profit taking sell off to target 1017, 1013. If Globex high remained intact after mid-night, it would act as stop for short side scalping. [Result: Market opened gap up and spiked up to 1045 and closed at 1045.]

Attempt trade for 09/27/2001 Thursday <$>

Stop 1015.25-1016, scalp short side (selling bias), 1/2 target 1010-12. (risk 1 pt only). If open gap down, reversal back up is likely before 9:00AM. If 1017 broken, more up side.

10:00AM Update: Next reversal time is 10:50, stop 1000-1000.50 for buy side, target 1010 testing, if broken, it will test 1015 day high and 1020-1025 before tomorrow first hour. [Result: opened 1013, morning high 1015, low 1000, reversed back up from 10:42 AM, afternoon high 1023, closed 1022.50]

Attempt trade for 09/26/2001 Wednesday <$>

Bullish Scenario:

Stop 1010, buying bias (including Globex), risk 1~1.5 points.target 1039-1045, but yesterday's hi 1021.50 needs to be taken out before 7:30 first.

Pull Back for testing 1009, 1000 scenario:

If yesterday's high 1021.50 is intact for more than 1 hour, it should test 1009-7, then 1002 before more bounce. If you had shorted 1/2 5 mins before the close (in stocks room), take profit at 1010-1012.

Opening Update: Stop 1025, selling bias, 1/2 profit taking at 1021-2, 2/2 profit taking at 1015-7 or use trailing stop, 1012 violation indicates 1007, 1003 testing. Expected close 1010~1011.50. [Result: Opened 1024, high 1024.25, low 1004.50, closed 1014]


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