Before I publish the weekly data, let me make one more pitch on why you should join our trading group. First I need to warn you our 24/7 trading room has a 50 seat maximum and at last count we were just a few seats shy of locking the room up.
Here are 6 reasons you should grab one of them ..
- We are the most successful trading group on the internet.. You know how I know this? I spent the weekend looking for rooms that publish their trades and I didn’t find any! There were rooms that showed some typical recent results (all winners of course) and some who for some reason their portfolios were either way out of date or just not working. What’s up with that? Our closed trades for November are available here.. if you need August, Sept and Oct here is the summary, if you need the trades just ask..
- Tom is a hedge trader and his style allows you to pull money out of market up or down. Currently in ES trades he is 45 for 46 profitable or breakeven trades since November 1st. Tom has booked over 11K in profits trading just and average of 2.05 contracts. Overall we are up 15% from November first in our Traders Account. That is pretty impressive trading.
- You get access to Tom, his research and mine which will help you stay on the correct side of the market. Our indicators are proving accurate for calling tops and bottoms (transition points) as well as knowing when we are in trends.
- If you have TradeStation you have access to all of my indicators, I will help you to install them.. If you have another platform I will work with you to re-create them for yourself.
- As a member of our trading group which contains professional and full-time private traders you will have access to all kinds of trading styles and market wisdom.
- In addition to access to the trading group as a member you have access to premium services like the Gartman Letter, Investors Sentiment, Lowry Research.. This alone is worth over $500 in services, plus we have access to more.
If you are interested in taking advantage of last years pricing let us know before December 1st. You can lock in your traders seat by paypaling (is that a word?) $499 to tomandprisha@msn.com. To take advantage of our email service send $125 to the same address.
Ok.. what is the market telling us?
You can see that only the Dow was an anemic 0.46% as the market slowly lost momentum all week long. The tech sector took the biggest hit as Dell came in with unimpressive earnings and analyst took advantage of the weakness to downgrade the sector. HP’s earnings are this week and good news from them could help turn that momentum around.
Taking a look at the board market indicators:
Zweig:
The Zweig indicator is showing weakness and shows us another failed thrust to the overbought. A return to the red line or lower will setup for another attempted thrust. Should we fail again the market could be in real trouble. We need to see the setup at that point. A rally from this level up to 1105 ESz is not out of the question, but history tells us that it will be a bull trap so if it does appear I will be exited into cash at that area.
10 Day High – Low:
This chart paints almost an identical picture to the Zweig. Tracking the continual weakness is obvious and historically we approach that –50% area before turning around for another leg up. If we hold to the pattern there is more weakness to come before the bulls are rested enough to take over again.
40% DMA Index:
I have been using this index and the crossing below the moving average of the index as a sell signal. This happened on Friday as the % of stock trading above their 40 DMA feel to around 50%. It takes a 2nd day break to really confirm but weakness is the picture of the day.
Outlook:
My outlook for the next 3 to 5 days is bearish with a possible bull attack and run up to the 1105 area which will not hold and a eventual run down to the 1060 area before mounting a final thrust into the close of the year. We will be able to tell a lot from the strength of that thrust.
A word of caution going into Thanksgiving week. We really have only two real days of volume trading this week. Wednesday the trading should become light in the afternoon as traders leave to travel and the Friday morning session is a joke. Technical analyst hate half days because it leaves our indicators all out of whack! With light-volume-trading crazy things can happen so don’t get too much religion this week on either the bear or bull side.
See you in the markets!
Marlin (aka RedlionTrader)
