Official Room Calls: 4/5 trades green for a total of +46 points (+37=[3/6*10 + 3/6*64], +6, +5, +8, -10) or +9.2 points per trade per contract.
We were on a roll again today, taking only one reasonable stop out of all of our trading signals. MaxSpan was a monster gainer, with its trailing cars catching a big chunk of the morning's weakness. The YM (Dow e-mini) closed near the lower end of its range, making it a strong trend-down day with a 116 point range. There was some divergence on the futures indices, as the ES (S&P 500 e-mini) closed red but a bit stronger than the YM, forming a spinning top rather than the long red bar formed by the YM. The ER2 (Russel 2000 e-mini) and NQ (Nasdaq 100 e-mini) both closed green
on the day.
I will include a graphic of the trendline many of our traders shorted in the afternoon at 2:32 PM EST as mentioned in the afternoon blog (available from clicking the below link). This was a decent set-up but not an Official Room Call signal because the price had not rallied to a level which Alex felt would be good for a trigger signal. A better place to short would have been the daily S1 sitting at 12720 or the 50% retracement of the day's move down, which also overlapped on yesterday's (Wednesday) low of 12723. The YM was too weak to rally that high getting only as far as the 38.2% retracement. My chart is based on exchange time (CST) so add one hour for EST.
So far Alex has called his trades 247 correct out of 312 trades, with 2 BE trades. Great signals Alex!
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_02222007_morning.mp3
Afternoon Session (for subscribers only): http://puretick.com/member/audio_logs/alex_02222007_afternoon.mp3
Related Blogs/Podcasts (for additional details of the day's action):
Morning Session: http://www.puretick.com/blog/?p=125
Afternoon Session: http://www.puretick.com/blog/?p=127