MARKET UPDATE
JUDY CRAWFORD
(TRADES FOR WEDNESDAY, JAN. 7, 2009)
888-301-8120
jcrawford@zaner.com
Unique and timely technical review of all the major markets including trade suggestions plus the technical reasons for the trades. Published on Tuesday and Thursday, learn while you trade! Additional trade suggestions for alternate days (titled Trade Alerts) are published but not available here. To receive free the complete Market Update including the additional Trade Alerts, sign up on my website: www.tradingfuturesmarkets.com. If you have any questions or want to discuss a particular market or trading in general, give me a call or email. I look forward to hearing from you!
ABOUT TRADING:
Emotion is more your enemy than any market will ever be. Trading is not easy. It takes discipline, a plan and the ability to leave your emotions in the other room. My Market Update is designed to help you with that.
You need a plan because, you cannot control the market but you can control yourself. As a client so aptly put it, "when trading you are committing your money to something that you have no control over so you have to do it in a way to keep yourself out of trouble. The only way to do that is to develop/utilize a system to help you trade the markets." Statistics show that the successful trader is wrong well over 50% of the time but still makes money.
Developing a system to approach the markets takes time. The purpose of my Market Update is to show you some of the technical indicators you should consider prior to entering a trade and to show you the trading components all systems need: Entry, Exit, Projection. My goal is to help you save time and trade better.
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OPENING AN ACCOUNT:
Feel free to call or email me regarding any questions you may have about the markets or about trading with me. I'm available during market hours without obligation.
I welcome the opportunity to hear from you and what your experience has been. I can also tell you a little about myself and the firm I work with to see if that would work for you!
SOME POINTERS ON MY MARKET ENTRY & PROTECTIVE STOPS:
I do not enter new positions during the night session but do place stops on existing positions for 24 hour coverage.
I may move stops interday but only existing clients are notified of these changes.
TRADE ALERT:
Buy March mini silver. Buy 11.570 stop. Protective stop 10.750. Potential projection 13.000.
Reasons for the Trade:
1. On the monthly chart, silver triggered a buy signal last month.
2. The weekly chart has a major key reversal bottom.
3. On the weekly chart, silver closed over the 20 day moving average last week and is trading above it this week.
4. The weekly chart has two previous buy signals that are still intact.
5. On the daily chart, all major sell-offs continue to hold at the 20 day moving average. That is positive.
6. On the daily chart, silver has closed over the 11.000 resistance for several days now. That is now support.
7. On the daily chart, silver rallied over its major downtrend several weeks ago confirming a trend change from down to up.
8. Today was an inside day that can trigger a signal and market direction.
MAR COPPER: It is now over 150.00. If it can hold, it has the momentum under it to get to 175.00. It was also up over 12.00 points today. That is significant. Closed 158.30, up 12.40.
FEB GOLD: In my last Update I saw the potential for 925.00. I still do. It is also still in a major downtrend. Right now it would have to take out 930.70 to question that. It is starting to act the same way it did when it had its rally in October to over 900.00. That time it thrashed around, sold off, came back and took out the original high of the rally before it really got serious and sold off to make a new low for the trend. We'll see what happens this time. Closed 866.00, up 8.20.
MAR MINI SILVER: My stop was reached yesterday when silver got carried away with itself, made a new high, then sold off to make a new now - forming an outside day. I still like this market and see potential. I will try to buy it tomorrow. See Trade Alert for details. Closed 11.445, up .175.
Position: Long 10.540 (12.26). Exit 10.620 (1.5). Profit $80.
ENERGIES, CURRENCIES & BONDS:
MAR CRUDE OIL: It is back over 50.00 support which is very positive. It has two previous buy signals that are still intact. The problem with trading it is that you have to risk too much - even with the mini. I have been buying calls instead. I see a potential to 70.00. Closed 53.13, up 44.
FEB (MINI) NATURAL GAS: I kept trying to buy it and finally succeeded today. Keep stops at 5.760. Closed 5.983, down .089.
Position: Long 6.195 (1.6).
Projection: 7.000.
MAR JAPANESE YEN: It finally triggered a sell last Friday using the mini. I had to pay up some. It met my projection today. A rally should be an opportunity to short it again. Closed 106.45, down 99.
Position: Short 109.47 (1.2). Exit 106.43 (1.6). Profit $1900.
MAR DOLLAR INDEX: It has been rallying and appears to be attempting to test the break out from the head and shoulders top. It has the potential to go up to 86.00. So far it is struggling at 84.00 which is also resistance. Just watching for now. Closed 83.72, up 15.
MAR EUROCURRENCY: I tried to sell it Monday. It had already sold off too much by early morning so I missed it. It made its move during the night. Just watching. Closed 134.92, down 81.
MAR CANADIAN DOLLAR: It finally triggered a buy on Friday. Today's high 85.00. I still see more to this move. It has a huge base under it. Move stops from 81.50 up to 82.90. Closed 84.74, up 67.Position: Long 82.63 (1.2).
Projection: 88.00.
MAR BONDS: I have been waiting to sell but they simply sold off too much, too fast. They are now in some minor support around 131.00. A rally should be an opportunity to finally sell. Clsoed 132.220, down .105.
There is substantial risk of loss in trading futures and options. Past performance is not indicative of future results.
The information in this email may be confidential and/or legally privileged. It is intended solely for the addressee. Access to this email by anyone other than the addressee is unauthorized. If you are not the intended recipient, please contact the sender and destroy any copies of this message and any attachments. Any unauthorized use or dissemination or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful. This communication is neither an offer to sell nor a solicitation of an offer to buy any security or other investment product.
All suggested trades are based on technical signals/indicators and do not include slippage or cost. Not all trades suggested are taken. Results are based on what the signal indicates - not necessarily an actual trade. Actual results may vary.
