Here’s How Rob Hoffman Made Money Again Today In These Wild And Fun Markets

Hey gang! Welcome back! What an exciting day today. Trade after trade after trade in the Live Trading Room this morning. We are going to show you some of what we focused on here in just a moment. First things first, one market that I want to go ahead and point out for tomorrow is Crude Oil. We had an inside bar of an inside bar. Today’s high and lows were contained within yesterday’s high and lows, and yesterday’s high and low were contained within the previous days. So what I am looking to do is see if we get a break out of 4020 here for a push back up towards the 4220 area so it could be a couple hundred tick rally. Otherwise, we want to break down below this 3780 area for some type of continuation here. So, I won’t be doing that much in between there at this point but if we can break out or break down, I will definitely be looking at that. Particularly, a favorite break out to the upside because I like to see some short covering rally which usually sticks it to a lot of traders who get in here way too late. After this big down bar here I’d love to see some short covering rally just like we saw in Gold here recently.

As we go ahead and take a look now at the Stock Index Futures, what we focused on here today which is really important because the lessons I have shared with you the last several days in these free nightly videos let alone what I talk about and what I do in my Premium Videos but even the Free Nightly videos I have giving you the keys to the castle day after day. Yesterday, our focus was going into this morning if could we go ahead and wake up this morning and come down, break down below the low here and look for shorts. The problem is when the Stock Index Futures opened up last night, the Russell opens up late so it opened up at 7:00 PM central time. It took right off to the upside. The other three opened up, went down in overnight pre-hours trading there and then took right back off. When we walked in this morning basically all bets were off to the short side initially. The plan was to wait until we hit resistance and then started to roll back over and look for shorts. That is exactly what we did.

If you recall form the last couple of days, the way we were focusing on trading this was looking for long side trades in the morning then breaking down in the afternoon and then testing those breakdowns and then rolling over again. So that is what we looked for in the last couple of days. Today, when were done with the trading room, after taking all of those winning trades, I said actually what we are going to be doing today is looking at the opposite. We did multiple short side trades here this morning and then when I left the group at 11:00 AM CT. said actually what we are going to be looking for now is a reversal back up the above the channel showing that it is holding then taking back off again. You can see that is exactly what we did within an hour of ending the trading room this morning. Really great stuff here.  I did several trades this morning with the group short and made money there and then we were looking for this to pull back up in the afternoon, so the exact inverse of what we have been looking for in the last couple of days. Using these strategies over and over again in these times in a market that is offering so much -let’s just keep the good times rolling.

As far as the Stock Index Futures going into tomorrow now, in addition to watching Crude Oil and several others, what we are going to be doing now is were right into the speed lines that held us all day long. Now tomorrow when we open up, pullback tomorrow and take back off. One of the telling signs that showed we were due for an update. If you noticed, look at main stream media I show you how it continues day after day to be a contrary indicator. This morning was a great example of that. An hour before the opening this is the report, it was headlines news, “Bearmageddon is coming and only this can save us”. Okay. I talk about the ultimate click bate trying to make people click on those reports. None the less, when people see bearish reports and then they walk through the door and see the markets coming down, well guess what they do? They get short, they panic and sell off their longs only then to have it close at the high of the day in the back end. It is a really perverse model that I have shared with you many times over the year and it continues to be a fantastic tool in contrary indicator in doing the opposite of main stream media so keep that in mind.

Going into tomorrow, I would like to see if we can open up here and basically stay above the speed lines and look for continuation longs. If we open up above the speed lines maybe have a small pullback but stay above the speed lines then I am going to be looking for continuation longs. If however, we cannot sustain above the speed lines we start to roll back over then I will start to look for shorts. The last couple of days offered up these two sided markets where we focused on longs first and then shorts into the afternoon and then today it was focusing on shorts in the morning and longs into the afternoon. It is awesome! A great time to be a trader! I keep telling you guys this over and over again.

We have a big event coming up that you should all be aware of. It is absolutely free for you to attend. It is the Las Vegas Money Show, October 14 through October 16. You will see I am right on the front cover of that with Tom Sosnoff, Linda Raschke and Dave Landry. There is going to be huge cast of characters that is attending and speaking at it. This year they moved it to the Paris hotel and moved it to October, and a lot of people were not aware of that. We have got huge events planned for you guys there.  I have got lots of different speaking engagements.  I have got several events, and plenty of them are free.  What you’re going to want to do is get registered.  When the video is over a pop up with appear.  You will get access and updates to different events outside of the scheduled appearances.  That is where the real money making opportunities are.

To keep up with what we are doing and where we are doing it, make sure you fill out the form at the end of the video.  That will get you registered to keep up with all the information at the Las Vegas Expo.  That event will be October 14 through October 16.  There will be a host of great learning opportunities for you all, as well as special get together with students and people that are part of my nightly videos here.  Make sure you fill that form out to keep up to date with all the information.  As always I look forward to seeing everyone in the live trading room tomorrow and I hope you all have a great evening.

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