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Trade for 02/27/2004 Friday <$$$$$$$$$$$> GDP report

Globex: support 1143 - resistance 1146.75. We favor buy side. If the GDP report is good, it will spike to target 1150.

After opening: Stop 1144.50, buying bias, target 1150-1151...

After hit 1152: Stop 1151.25 for short scalping...

After 1145 violation: Reversed to short selling with 1146.5 stop, target 1140-1139. Took profit 1140.75

[Result: Globex low 1142.75, Globex high 1148 after report. Day high 1152, day low 1130.25, closed 1144.75]

Trade for 02/26/2004 Thursday <$$$$$$$$$$$> Durable goods report

Globex: Before Durable Goods report, trading range 1141.25~1145.

After opening: If 1145 is intact after report. It would be for short sde 1138-1139 target. Followed by 1137 stop for buy side, target 1145, 1145 violation = adding long for 1147, 1150. Expected closing range 1145 +/- 1 point.

[Result: Globex low 1142 before report, Globex high 1144.50 after report. Day high 1147.25, day low 1137.75, closed 1144]

Trade for 02/25/2004 Wednsday <$$$$$>

Expected trading range 1141.50-1144; try to short at high and buy at low.

Globex: Stop 1141.50 for selling bias, target 1144.

At opening: stop 1141.50, selling bias, target 1139, 1138 short covering. 1136.75 support for buy side. Short again bounce to 1140 area, stopped out 1141.

Afternoon: Choppy range 1141.50 ~1145 for scalping.

[Result: Globex high 1141.25, Globex low 1137, day high 1145, day low 1138, closed 1143.25]

Trade for 02/24/2004 Tuesday <$$$$$$$$$>

We still favor short side!

Globex: Stop 1142 for selling bias, target 1137.

At opening: stop 1140, short again if bounce. target 1133-1134.

Bounced short again. We exited break even at 1140 stop on the 3rd bounce. Stop 1142, short selling, stopped out 0.75.

Stop 1145 (for position short), selling bias, target 1140.

Afternoon: If 1142 is broken = reversal down for target 1133.

[Result: Globex high 1141.25, Globex low 1135.50, day high 1144.25, day low 1133.25, closed 1139]

Trade for 02/23/2004 Monday <$$$$$$$$$>

Stop 1142 for buy sdie target 1148.50; stop 1149.75 stop fro short sdie, target 1142.50, 1136-1136.

We favor short side.

[Result: high 1147.50, day low 1136, closed 1140.50]

Trade for 02/20/2004 Friday <$$$$$$$$$$$$$$$$$$$$$$>

Stop 1150.25 we shorted from high all the way to 1141 and shorted again 1143.50 with 1144.5 stop for target 1138 and reversed to long with 1137 stop, adding long at 1144.5 and target 1148 -1050 profit taking.

[Result: high 1151, day low 1137.75, closed 1143.75]

Trade for 02/19/2004 Thursday <$$$$$$$$$$$$$$$$$$$$>

At Globex: Stop 1153.50, selling bias, target 1145; 1153.50 stopped out by 0.75; after 1153.50 violation, it will test 1157. Although, we are still favoring short selling.

After opening: Stop 1158.75, selling bias, target 1154, 1152 and 1145

Midday after 10:30 - Stop 1157, selling bias at 1156.50, target 1154, 1152 and 1145 if 1153.5 is broken.

Afternoon: After 1147 hit, bounce to 1149-1149.50 shorted again, with 1150.25 stop, target 1145.-1146.

[Result: Globex low 1151, Globex high 1157.25, day high 1158.75, day low 1145.25, closed 1146.75]

Trade for 02/18/2004 Wednesday <$$$$$$$$$$$$>

At Globex: Stop 1158.75, selling bias, target 1154, 1152.

After opening: Stop 1158.75, selling bias, target 1154, 1152.

Morning: Stop 1158, still selling bias, target 1154, 1152

Midday: Stop/trailing 1157.75, still selling bias, target 1151.5; then try to cover short and reverse to buy at 1151.50 with 1151 stop; 1151 violation = reverse to short again for 1148.

[Result: Globex low 1156, day high 1158.75, day low 1148.25, closed 1151]

Trade for 02/17/2004 Tuesday <$$$$$$$$$$$$>

At Globex: Stop 1144.50, buying bias, target 1153, 1159.

After opening (7:00): Stop 1149.50, buying bias, target 1153, 1159

Morning: Stop 1142, buying bias, target 1160

Midday: Stop 1144, buying bias, target 1160.

[Result: Globex low 1147.50, Morning low 1152.25, day low 1152.25, day high 1158.75, closed 1156.50]

Trade for 02/13/2004 Friday <$$$$$$$$$$$$$$> Monday - President Day

At Globex: Stop 1150.50, can try buy side, target 1154, 1157.

After opening: Stop 1150.50, buy 1151.50, target 1157-1158.

Pulled back to 1154-1154.50, try to buy again with 1153.75 stop; 1153.75 violation = market reversed to down trend; try short side selling bias, target 1145, 1142.

Bounced to 1148, shorted again, target 1144....; expected closing range 1145.

[Result: Morning low 1151, day low 1142, day high 1156.75, closed 1145.25]

Trade for 02/12/2004 Thursday <$$$$$$$>

At Globex: Stop 1152, buying bias, target 1157.50

After opening: Stop 1152, buying bias, target 1157.50; then reverse to short side with 1160 stop.

Afternoon: Try scalp 1150.50~1154 range.

[Result: day low 1150.50, day high 1157.50, closed 1151.25]

Trade for 02/11/2004 Wednesday <$$$$$$$$$>

At Globex: Stop 1142, buying bias, target 1148, 1150, 1155, ...

After opening: Stop 1142 and 1140.50, buying bias, target 1148, 1155, ...

After it hit 1152: Stop 1147 still buying bias, target 1155, ...

[Result: day low 1141.25, day high 1158.75, closed 1156]

Trade for 02/10/2004 Tuesday <$$$$$$$$>

At Globex: Stop 1137, try to buy 1138 arae, target 1143, 1148

After opening: Stop 1137, try to buy 1138 arae, target 1143, 1148

[Result: day low 1137.50, day high 1147, closed 1143.50]

Trade for 02/09/2004 Monday <$$$$$$$$>

At Globex: Stop 1137, try to buy 1138 arae, target 1143

After opening: Stop 1137, try to buy 1138 arae, target 1143

[Result: Globex high 1143., Globex low 1138, day low 1137.75, day high 1133.75, closed 1140.25]

Trade for 02/06/2004 Friday <$$$$$$$$>

At Globex: Trading range 1123.50-1129.50; try to buy low, short high. 1130.25 violation = market will rally to 1133, and 1137.

After job report: Stop 1126.25, buying bias.

After opening: Shorted from 1132, stopped out at 1132.50.

Midday: Stop 1135.50, buying bias, target 1142.

Afternoon: Stop 1137, try to buy below 1138, target 1142.

[Result: Globex high 1131., Globex low 1125, day low 1126.75, day high 1132, close 1129.50]

Trade for 02/05/2004 Thursday <$$$$$$$$>

At Globex: Stop/trailing 1127.50, short side.

After opening: Stop 1128, still selling bias, target 1124.50; then reverse to buy side with 1123.75 stop, for target 1132.

Morning: Stop 1126.25, scalping to 1122.

Midday: Stop 1126.25, short from 25.75. (Stopped out); and reversed to buy side with 1127 stop for target 1130, 1132.

Afternoon: Stop 1130.25, short selling, target 1125.

Final hour: Short again 1129.50 with 1130.25 stop, target 1126-1127 closing.

[Result: Globex high 1128, Globex low 1122.50, day low 1123, day high 1130.25, close 1126.50]

Trade for 02/04/2004 Wednesday <$$$$$$$$$$$$$$$$>

At Globex: Stop 1133.50, short selling bias, target 1127.

After opening: Stop 1130.25, still selling bias, target 1125-26 profit taking.

After 10:00: Stop 1132.50, still selling bias, for target...

After 12:00: Stop 1129.50, still selling bias, ...

[Result: Globex high 1133.50, Globex low 1125, day low 1122, day high 1132.25, close 1123.50]

Trade for 02/03/2004 Tuesday <$$$$$$$$>

At Globex: Stop 1135.25, short selling bias, target 1131.

After opening: Stop 1137, selling bias ,target 1128-1129.

[Result: Globex high 1134.75, Globex low 1131.25, day low 1129.50, day high 1136.50, close 1133]

Trade for 02/02/2004 Monday <$$$$$$>

At Globex: Stop 1133.50, short selling bias, target 1127-1128. Stop 1127 for buy side.

At opening: Stop 1135, selling bias, target 1128-1127. If market stays above 1127 within first hour, don't be obsessed with short side. Might try buy side.

Midday: Stop 1134, buying bias, target 1142.

Afternoon: Stop 1131.50, short side, target 1127.50; then 1126.75 stop, reverse to buy side; buy side stopped out, reversed to down side.

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The 6th Year of Accuracy

The following are what we have called for year 2003. We have called the yearly low on March 12 bottom and the yearly high 1100 or higher. Please click here for detail.

 

<3/11/2003 Tue > Keep in mind shorting at 808 area could be tempting, but market is working on major daily reversal up. Any short attempt could kick a trader out of the up trend game. We have had enough shorting trades for past 3 months don't be obsessed with it again, at least for a day or two.

Attempt trade for 03/11/2003 Tuesday Globex and opening: Stop 812, selling bias, target 800. Afternoon: Stop 807.75, short again, target 800-798. [Result: Globex high 812, day high 814, low 799, close 800.50]

<3/12/2003 Wed> Attempt trade for Wednesday: support 785-788, buying bias, target 826-828

<3/13 Thu> We called: Up trend started!

<5/01/2003 Thu> It is not what it looks like. Don't try to call top! We still stick to up trend

<6/03/2003 Tue> Warning: Don't be obsessed with calling top. A lot of Fib analysts have been trying to call a top for last 4 weeks and all failed. It is exactly the same behavior when market trend is down and they would keep calling the bottom. They could be right once after calling 10 times wrong.

<7/13/2003 Sun> Main trend is up, short term trend is in correction/consolidation mode.

<8/24/2003 Sun> Keep in mind main trend is still up. Pull back is just for correction only. 1020, 1050, 1065,...

<9/02/2003 Sun> Still up trend. Pivot 999, target 1020, ...

<9/07/2003 Sun> Main trend is still up, major support 1003. It is in correction/consolidation mode now. Try to buy again after correction. (September contract is to roll over to December on Thursday. Symbol: ES03Z)

<10/27/2003 Mon> A lot ofanalysts are calling sp 950, just DO NOT listen to them.

<10/30/2003 Thu> After breaking this 1040 and staying above it, market has completed the correction. This morning's strong GDP report confirmed this sp 1100 and higher before year end. Last week's correction hit 1016 only, we don't think it will be tested again with this strong GDP report. Should stick to buy side. Bigger picture: SP 1100 before x'mas. If there is one more pull back for correction in next 2-3 days, we don't think it will violate 1030 again. strong support 1040 and 1030-1035.