Official Room Calls: 2/3 trades green for a total of +15.6 points (+7.6=[3/5 * (2/3*10 + 1/3*14)], 10, -2) or +5.2 points per trade per contract.

So far Alex has called his trades 195 correct out of 244 trades, with 1 BE trade. Great filtering Alex! :D

It was another quiet session for us, with morning strength and mostly sideways and choppy trading action in the afternoon (lean pickings), although today's afternoon session was stronger with up-trending chop and closed near the highs of the day. What we have seen for the past two days is a contracting daily range, with today's daily range of 61 being the narrowest in the past 7 trading days, or technically a NR-7 day ("narrow range seven"). Some theories and studies purport that volatility moves in cycles from low volatility to high volatility and vice versa. If you get a NR-7 day it has been shown that the following day (tomorrow) will have a range expansion and have more trendiness. However, tomorrow is not your typical trading day, as there is a Fed announcement at 2 PM EST, and the trading session preceding the announcement is typically pretty sideways and indecisive.

We do have two fed-related trading videos in our library, check them out if you have not already seen them:

CajunSniper's Playing the Fed Move:
http://www.puretick.com/video/fed
A Video Capture of Alex Preparing Us For a Previous Fed Day:
http://www.puretick.com/video/fed_day_prep

Text Transcript (all time stamps are in EST): http://puretick.com/chat_logs/hotcomm_log_01302007.html

Executions/Track Record: http://www.puretick.com/trkrecord.html

Audio Transcripts:
Morning Session (for subscribers only): http://puretick.com/member/audio_logs/alex_01302007_morning.mp3
Afternoon Session (for subscribers only): http://puretick.com/member/audio_logs/alex_01302007_afternoon.mp3

Related Blogs/Podcasts (for additional details of the day's action):
Morning Session: http://www.puretick.com/blog/?p=90
Afternoon Session: http://www.puretick.com/blog/?p=91