What A Fantastic Trading Day. So What’s Next?

Well hey there gang, welcome back. What a day, what a day what a day. In fact it was a photo finish even in the trading room today. We thought we were finally done making money and then, literally as I was saying goodbye to people, in fact some people had unfortunately already left the room as we were in the process of saying goodbye, all of a sudden we had one more great trade right there and then. In fact, here is that trade, right here. WE had one more nice little short right at the close of the session after all of the great activity this morning. What a great money making day, fun day, fin trading day, a lot of price action made it a great session. Right here we thought we were done as we kind of went into this consolidation so I was starting to say goodbye, but then I did another live short there and of course the market came down nicely. Fun, fun, fun. So, we told you last night in the videos that the favorite trade would be to come right back off of the resistance right here and come down. That is exactly what ended up happening this morning so we took full advantage of that firing off several trades, great stuff. What ended up happening is that we ended up hitting my breaking point down below and that is why we started to slow down on the day because we hit a positive divergence in my indication here, so we were seeing a positive divergence in the market and we also saw what I call my three musketeer trade, so that’s a trade going back to the long side. Then it started playing out and we thought maybe we were done. So, I said goodbye, but nope, we had one more trade come in for a short side opportunity and that ended up being the bottom on the session, right where we identified it this morning. It was just a flawless day and a really great session with numerous trading opportunities and we were going through it tick by tick and bar by bar this morning as people watched me execute trades and we were going through each bar. Pretty great stuff.

Going into tomorrow, now we have this big fat inventory retracement bar. What that means is while it would be really nice to get another push back down, all of this area from here all of the way down to here is now support going into tomorrow. Meaning any point on a pullback we could start to retrace back up. So the key question for tomorrow is, are we above or below the speed lines? If we are above the speed lines then what I want to do is get above todays high and then I will judiciously look for intraday long side trades. IF we are below the speed lines, then I am going to look for judicious shorts and keep the stops fairly tight on the trailing just to make sure that we don’t get caught in a whip saw. If we are above the speed lines, but we are not above the high, and even if we are above the high, we are going to have resistance levels on all of these indices going into the evening session. That leads to the opportunity for whipsaws all the way back down. We certainly have seen a lot of whipsaws in the couple of days but it has been awesome and it led to great profitable trading. I love it with my students, so that’s ok, let it whip around. But what we want to do is if we are in a trade, we want to make sure we protect the profits and keep the profits coming and that is what the focus is going to be going into tomorrow.

There are a couple of things I need to clarify for you, you received an email today and I have to apologize we did make a mistake on it, so I need to correct this officially for everybody here. IT is very important that you understand that the wonderful cruise we have coming up, there is one major thing that is different. You’ll notice that the cruise is $2685 per person based on double occupancy. That includes, me, Hubert, all of the training we are going to provide, a 7 day all-inclusive cruise. There is a 6 page brochure you can get access to learn all about it. What we got wrong that we need to clarify is important because the original email cannot be honored. What is said was that if you sign up before August 14th, you are going to get $2685 credit from me and $2685 store credit from Hubert toward any products and services of ours. Unfortunately that date is incorrect, it is not August 14th, 2015, it is actually Wednesday July 29th. You have to be booked before Wednesday July 29th to get $2685 from me and $2685 from Hubert, basically $5300 which more or less is the equivalent of the cruise based on double occupancy. So you are going to get all of this great credit, but you have to do it before July 29th. If you book after July 29th, it will only be $500 from me and $500 from Hubert and while that is still great, $1000 store credit is still great between the 2 of us, that’s way different than $5370 store credit. Huge difference, so if you are watching this tonight, do one of 2 things, either call into the office so you can speak to me directly about the cruise, or fill out the form that pops up at the end of the video and is also down in the special update section, that form is really nice and harmless, just click the “Get the Brochure Now” and it just asks for a couple of pieces of information and we will get the full brochure to you. So, just a point of clarification that I have to make here, so start booking the cruise now for those of you that haven’t already done so. I will look forward to seeing you in the Live Trading Room tomorrow morning, let’s go ahead and rock this thing again. This is been fantastic trading and we want to take full advantage of this into the coming days. We told you it was going to be a great summer, and it is a great summer, we’ve been doing nothing but great things from a trading perspective and we’re going to keep doing that. Again, for all of you that want to come on the cruise, just keep in mind the things I mentioned and go ahead and request the brochure or call to speak to me directly so I can get you taken care of. It’s going to be a summer of fun, gang. Have a great night. I look forward to seeing you in the Live Trading Room tomorrow or in tomorrow night’s videos.

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