Fear The Future Radio

Futures are lower this morning ahead of data and oil is on the move upwards.  The fears and speculation that Gustav is going to hit the Gulf this weekend is positioning traders in oil ahead of the long weekend.  This is the final weekend that people are going on vacations and Fall is right around the corner.  We’re not going to force the action today like a few posts ago we said that sometimes you just need to show some patience and it’s better to be on the sidelines and not force anything.

Here’s what we’re watching today:

JRJC- had good earnings and showing a little bit os strength this morning.  If it stays above 19 this one actually has a shot at 21.

POT – with oil starting to run again especially over the weekend speculation, we like this one to start seeeing the upside today again as well as there also may be some agro speculation.  Stop around 177.50 but if this see some major strength today we think 185 is possible.

Trade smart today and have a safe weekend!

Futures trading up this morning after good data.  We’ll see how much Gustav sends things back down.  Holiday weekend fast approaching and also that hurricane could be some volatility today.

What we’re watching:

WFR – looks like it might have some pop if it does the 52.50 level looks good and a break above 53 and we may see it climb closer to 56.

OIL OIL OIL – it’s up again today with the fear of the hurricane, if the hurricane slows down over the long weekend oil could dip hard on Tuesday so play it smart.

Futures up this morning on data after starting a little lower in the earlier part of the morning.  Oil way up after hurricane Gustav looks to hit Louisiana on Monday.  Oil data as well today.  After a few somewhat flat days to start this week before the long holiday weekend, we may see some action today.

What we’re watching:

CHL – If it can stay above 61.70, we think it may test the 64 area.  Decent R/R on that one.

SOLF – looked to be somewhat good news, but it’s trading down in premarket.  we like it long if it can stay above 17.70 area.

Oil plays – Watching HK, RIG, USO, OIH, but they may see some large gap up moves so get a feel for the action first.

Trade smart!

Patience is a key attribute to have(or develop) if striving to become a successful trader. Learning to stay on the sidelines and not force a trade is a challenge many traders face. Because trading is such a fast pace environment many traders find it difficult not to force a position. They feel if they’re not into something, how can they make money or maybe if they don’t get in a trade they might miss out. Good successful traders know that if the trade doesn’t fit the setup, then don’t take it.

If you’re new to trading, try to learn this principle early as it will save you a lot of money. If you’re an experienced trader, either you know how important this is to establish mentally and emotionally, or you really need to work on developing this trait.

At stocktradeteam.com we want to help you become a successful trader so let us know what level you feel your current trading is at. Either leave a comment here or email us at stocktradeteam.com@gmail.com we’d love to hear from you!

Futures trading a bit lower this morning.  Housing data coming out this morning we’ll have to see where that takes things.  Oil popping a bit as well this morning.  If crude drops below that 114 level we may see continued downside in it which means watch the airlines.

What we’re watching today:

Solars have been popping this morning as well:

SOLF – if this one can stay above 19 it still looks good so use that(just under 19) as a stop area.  If it breaks 21 and change, it may test the 23+ level.  It has earnings coming up in 2 days so be careful.

LDK also seeing some action this morning.

Volume may be lower this week as we wind into a holiday weekend and the end of summer is approaching so the big money is probably being spent in the Hamptons instead of the markets this week.

Trade smart!

Easier said than done, but this is key to being successful as a trader.  Will give more details later.  testing this post

Futures up this morning ahead of the Fed speech at 10am. Oil dropped to the 120 range after almost hitting 122 was at 119 but creeping back up. It’s Friday!

Here’s what we’re watching today:

ALO – This pharma company has received an unsolicited buyout offer. Trading even higher than the offer, which suggests it might be valued a little higher. 2 similar situations happened a few months ago with DNA and IMCL. Something to watch though is that this company trades a lot lighter than the other 2 and this one is up huge. If it keeps running we think it has a shot at 34.50-35 range. The offer came in at around 33 so the R/R isn’t too bad.

GS – been beaten down the past several weeks. If the Fed has anything good to say it may rally nicely maybe to the $165 range if it can hold above 160.

That’s it for now trade smart and have a great weekend!

Futures way down this morning on financial worries and also on oil running amid fear in the markets. There’s key data this morning at 10am and 10:35am so trade cautiously prior to that. Fear is starting to have a push in the market place right now so be very cautious. The markets looks like they’re setting up for either a -200 day or a huge rally. Just make sure you’re on the right side of the trade, and if you’re not keep those stops tight unless you’re willing to ride potentially large swings.

Here’s what we’re watching today:

Oil and Agros:
POT – We see a potential test of the highs from a few days ago at 182. A break of that and we can be off to the races. But the data will be key it may test the 182 and if data is bearish for oil we can possibly see a retrace back down to the 170 range.

Also HK, CF, and GDP on the watch.

JRCC – Coal is also starting to pick up a bit here again. We like this one to potentially get to the 45-46 range.

OK trade smart today!

Futures up this morning on good earnings starting late yesterday. Oil data comes out today and in the premarket oil futures have started to spike again. If oil data comes in lower than expected we could see a big rally in the markets today.

What we’re watching today:

PAY – had great earnings and looks like it could potentially get over the 20 mark maybe to 21 in the near term if it can hold above 18.50s.

Also keeping an eye on oil stocks like RIG, HK, and HES.

Futures taking a bit of a hit this morning on bad housing data. Oil retreating a bit as tropical storm Fay doesn’t hit Florida with major damage.

What we’re watching today:

WYNN – Looks like 94.50 is a key price on this one so use that price as a pivot today.

We’re also watching the agros again today like POT, MOS, MON, FEED.