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!
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:
A Video Capture of Alex Preparing Us For a Previous Fed Day:
Text Transcript (all time stamps are in EST
Executions/Track Record: http://www.puretick.com/trkrecord.html
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