New trading video
Hi,
It sure is good to be back. This past weekend I returned from vacation in France with my wife where we were cruising the canals just outside of Strasbourg. It was a great deal of fun.
I have to say, every trader needs and deserves a break away from the markets. Normally the August markets are fairly quiet, so it seemed like a good time to get away. Boy… was I wrong. Not wrong on the markets, but wrong on the markets being quiet.
Arriving back in the States having not seen a newspaper for two weeks and with limited access to internet, I was surprised to see some of the moves in the major markets. I was also happy to see the price of crude oil!!
I have known for a long time that news is not the important driver of price action. Most new traders believe they needed to be glued to the news every second of the day, frightened they will miss some news headline.
Here’s a little secret… the most important element in the market is not the news, it is the market action itself. Everything else is secondary. In my new video I explain exactly how we look at the market and how you can benefit from looking at the market the same way.
The new video is only four minutes long and I think you’ll find it fresh, timeless and interesting.
The simplicity speaks for itself.
Enjoy the video,
Adam Hewison
President, INO.com
Where we stand on crude oil
What a great move in crude oil yesterday. It was enough for us to cover our short positions and bank almost $10,000 a contract in profits.
Watch this video and see how we did it.
Here’s the full AP story from yesterday.
(AP:NEW YORK) Oil prices soared over $4 a barrel Wednesday, halting a dramatic two-week slide after a surprise drop in U.S. gasoline supplies fed speculation that record fuel prices aren’t keeping Americans off the roads.
But energy market analysts offered mixed views on whether prices would swing back toward record levels above $147 a barrel hit earlier this month or if Wednesday’s big rally was just a temporary bump.
Light, sweet crude for September delivery jumped $4.58 cents to settle at $126.77 a barrel on the New York Mercantile Exchange, after earlier rising as high as $127.39. It was crude’s biggest one-day rally since July 10, when prices ended $5.60 higher. Oil closed $2.54 lower on Tuesday at $122.19 a barrel.
The Energy Information Administration said in its weekly inventory report that U.S. gasoline supplies fell by 3.5 million barrels last week. Analysts surveyed by energy research firm Platts expected gas supplies to increase by 400,000 barrels. U.S. crude stockpiles also fell by 100,000 barrels last week, less than the 1.3 million barrels analysts had predicted.
The report gave some traders reasons to believe that crude’s slide was overblown and that the drop in gas supplies mean prices have fallen enough to nudge Americans back onto the roads.
“It’s stopping the bearish momentum that we’ve seen over the last few days,” Phil Flynn, analyst at Alaron Trading Corp. in Chicago, said of the surprise decline in gas supplies.
But some analysts raised questions whether U.S. fuel demand was picking up. Tom Kloza, publisher and chief oil analyst of Oil Price Information Service in Wall, N.J., doubted that Americans are actually driving more, saying a seasonal bump in gas demand probably drew down supplies temporarily.
“It’s nonsense to say that this proves that people are back to their old driving habits,” Kloza said. “There just wasn’t enough enthusiasm to push prices lower. ”
Crude’s jump was boosted by word that Israeli Prime Minister Ehud Olmert will quit his post in September, an announcement that raised doubts about the future of U.S.-backed Middle East peace efforts in the oil-producing region.
Also supporting prices was a report by Goldman Sachs, which affirmed its earlier forecast that crude will hit $149 a barrel by the end of the year.
The investment bank called weakness in U.S. energy demand “transient rather than permanent,” saying the fundamentals of falling oil production and rising world energy consumption remain intact. Past forecasts for higher oil prices have caused jumps in prices as speculative buyers are drawn into the market.
Still, other analysts said oil’s recovery doesn’t mean prices are about to go higher again, but rather shows that traders saw a short-term buying opportunity after Tuesday’s sell-off.
“I still expect to see further air being let out of this balloon,” said Stephen Schork, an analyst and trader in Villanova, Pa.
He noted that U.S. demand for energy is falling across most sectors. Inventories of distillates, which include heating oil and diesel, rose by 2.4 million barrels, more than the 1.8 million barrels expected, according to the EIA report.
And Americans continue to cut back on their driving to cope with almost $4-a-gallon pump prices. The average price of a regular gas fell 1.5 cents on Wednesday to $3.926, according to auto club AAA, the Oil Prices Information Service and Wright Express.
“We clearly have demand destruction,” Schork said.
Before Wednesday’s rebound, crude prices had dropped in seven of the last 10 sessions, and are down about 14 percent from their peak above $147 a barrel earlier this month. Prices remain about 60 percent higher than at this time last year.
The dollar was stronger Wednesday against the euro, but the oil market seemed to be ignoring a trend that ordinarily would pressure prices. Investors buy commodities as a hedge against inflation and a weaker dollar but tend to sell when the American currency strengthens.
Oil also gained Tuesday’s announcement from Royal Dutch Shell PLC that it may not be able to fulfill some oil export contracts after Nigerian militants sabotaged a pipeline in the Niger Delta.
Militant attacks on Nigerian oil facilities have trimmed nearly one quarter of the country’s regular daily output. The strongest Nigerian militant group, the Movement for the Emancipation of the Niger Delta, said it sabotaged two pipelines early Monday in the southern oil-producing region.
In other Nymex trading, heating oil futures rose 5.08 cents to settle at $3.5203 a gallon while gasoline prices gained 12.74 cents to settle at $3.1351 a gallon. Natural gas futures rose 11.8 cents to settle at $9.248 per 1,000 cubic feet.
In London, September Brent crude rose $3.34 cents at $126.05 a barrel on the ICE Futures exchange.
Two new videos that make (logical) trading sense
What a week!
What volatility!
What should traders do?
Several months ago we sent you an email that correctly forecasted the up move in crude oil and indicated that it could potentially topple world equity markets.
We were right.
So what happens now … is the move in crude over? Is the downward tailspin in equities over or is it just a pause before new lows?
A few days ago, I finished two new trading videos that take a fresh look at crude oil and gold. I believe that these videos offer an unbiased educational view of two markets that are front and center right now.
If you are concerned about what’s going on in the world then you really need to watch these videos. There is no need to register, plus you will learn some valuable trading lessons.
Enjoy the videos.
Cheers,
Adam Hewison
President, INO.com
SEC will broaden existing rules prohibiting naked short selling
Securities and Exchange Commission Chairman Christopher Cox said Tuesday to Congress that the SEC will broaden existing rules prohibiting naked short selling of banks and broker dealers in a bid to protect Fannie Mae and Freddie Mac.
Short-selling is a type of speculation, where a trader sells securities he doesn’t own; essentially, it’s a bet that a stock will fall. Naked short-selling is when a trader makes such a bet without arranging to borrow the stock first. The SEC already has rules limiting naked short-selling in certain circumstances.
Check out our March 16th video on the uptick rule.
“Saturday Seminars” - Avoiding Trading Mistakes
Whether you are a novice or an experienced trader, sometimes the markets leave you feeling like either an idiot, a moron or both. Trading professional Mark Cook shows you how to conquer trading mistakes and get back on the right track.
In his workshop he shows you what to do when your winning percentage drops, how to adjust position size for different trading environments and how to build your confidence. His methods will help you achieve trading consistency but, should your capital erode, his insights will also show you how to rebuild your capital base.
PDF WorkbookMark will explain the importance of knowing…
- Your Market Environment
- Your Unique Trading Style
- The Speed of the Horse
- The Capital Needed
A trader for twenty-two years, Mark Cook operates from his family’s 1870s farmhouse in East Sparta, Ohio. He manages his own and client’s accounts and offers a fax advisory service, Mark D. Cook’s Trader’s Fax, on S&P and T-Bond futures and OEX options, that is specifically dedicated to helping people become better traders. His own early trading years were difficult, but as he struggled for success, he gained valuable experience and learned what makes - and breaks - a trader. Mark developed the Cook Cumulative Tick™ Indicator and gained acclaim by winning the 1992 U.S. Investment Championship with a 563.8% return. He has written numerous articles for industry publications including Futures magazine, Financial Trader and Barron’s and was featured in Forbes magazine (January 1994). In addition to his trading activities, he conducts workshops and teaches traders from around the globe, helping them learn how to make the most of their natural talents. Mark D. Cook was selected for Jack D. Schwager’s new book, Stock Market Wizards, due for release shortly. Mr. Schwager previously wrote the best selling books, Market Wizards and The New Market Wizards. Now Mr. Schwager is placing emphasis on traders proficient in the stock market with years of successful track record, which characterizes Mark D. Cook’s market timing techniques.
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For more audio and video seminars please visit INO TV
“Saturday Seminars” - Understanding The Decision Marking Process In Any Market
In this presentation, Peter will describe the important distinction between internal and external market information and how successful floor traders rely primarily on data the market generates internally about itself. Floor traders can readily determine whether or not the markets supports, or “uplifts”, their decisions by evaluating the emotions, sounds, and energy levels generated in the pits. Physical proximity to the pits provides them with a distinct advantage over individual traders, for whom the only internal information available is volume.
Peter will describe the strides that the Chicago Board of Trade and NYMEX are making to provide users with more and better internal data. However, more data does not necessarily improve the decision-making process, causing the downfall of even highly trained and disciplined traders. Rather than overwhelming individual traders with too much information, the new platforms offered by the CBOT and NYMEX combine price, volume, and direction into a single market operating unit, and provide decision filters which, in essence, allow for forward testing trading strategies. Peter will describe the mechanics behind this process and provide examples from a variety of markets.
Peter Steidlmayer’s lifelong interest in the markets began during his undergraduate days at the University of California at Berkeley, from which he graduated in 1960. He joined the Chicago Board of Trade in 1963 and has been an independent trader ever since. Peter served on the board of directors of the CBOT from 1981 to 1983. While a director, he was responsible for initiating his own revolutionary concepts in data arrangement and trading information—Market Profile and the Liquidity Data Bank©. He is author of four books: Markets and Market Logic, Steidlmayer on Markets, New Market Discoveries, and 141 West Jackson, A Journey Through Trading Discoveries. He is presently working on his fifth book, The Essence of Trading. Each of these books establishes a rational working framework for organizing the underlying structure and movement of the market(s).
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For more audio and video seminars please visit INO TV
“Saturday Seminars” - Five Basic Trading Patterns & Their Applications To The Markets
Linda discusses five choice trading patterns she uses. Based on a logical set of market principles, these five patterns work equally well in equity and commodity markets. Understanding these enduring market setups provides you with a solid foundation for trading technically. They simplify analysis for the beginner and give the aggressive trader added confidence. Linda has used these patterns as the core of her intermediate-term analysis but they work well on any timeframe.
Raschke will explore :
- Double Tops/Bottoms
- Divergent Buy/Sell
- Anti Minor
- Sling Buy/Sell
- First Cross
Linda Raschke has been a full-time professional trader for over 20 years. She began her trading career on the Pacific Coast Stock Exchange and later moved to the Philadelphia Stock Exchange. Linda was written up in Jack Schwager’s book, “The New Market Wizards” and in “Women of the Street” by Sue Herera. In 1995, she co-authored the best selling book “Street Smarts - High Probability Short Term Trading Strategies.” Linda continues to trade every day.
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For more audio and video seminars please visit INO TV
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