Rob And Ryan Knocked It Out Of The Park Friday!

Welcome back everyone! What an exciting way to end the week. This video is going to be for the weekend. It is going to be my last video that I will be doing through next week and my last public event that I will be doing for probably at least a week or so minus the great charity event that I will be participating in tomorrow to help our friend and colleague, Toni Hanson, during that charity event. I just want to thank all of you that are going to join that event. I know that they already blew away their milestones and in many ways that is because of many of you here.

I’m so very excited and I just wanted to thank you guys. You have always stepped up for various charities that I get involved with. I just wanted to thank you for being a part of this one as well.

While everyone is important, I just wanted to put a special note out to Bill Graves who went ahead and, not only took this for himself, but he also wanted to make sure his friends were involved as well. He sent this email to several of his friends asking them to please contribute for this event and be a part of my presentation tomorrow. I always try to give you guys really great information. I will only have 30 minutes tomorrow but I am still going to give you the best information I can in that time whether it is for your futures, stocks, or options trading. I have a lot of diverse skill sets as many of you over the years have come to know.

I just wanted to put that out there for Bill who went to a bunch of his friends as well to help out with that very special event that we are doing on behalf of Toni tomorrow. Thank you very much, Bill!

As we go ahead and look at today it was the gift that kept on giving. Ryan and I fired off numerous trades, probably the largest number of trades that we fired off on any given day in months. We were just banging them out left and right, left and right. Of course, this was the market that kept on giving. Once the news broke this morning about the Ukraine and Russia the whole model was this.

The market ran up before that news and so, of course, it was primed. When the market goes up in advance of bad news that helps make it come down, plus it is Friday, so it was kind of a risk off trade type situation earlier when that news came on. There was air to take out of it from the early morning push that was up to here (on my charts at 2:52). Then it kept pushing down and pushing down (lots of momentum shift breakouts and lots of inventory retracement bar breakouts over and over again). There was lots of great trading over here (on my screen at 3:09). I was short and the room got to watch me trail that down for a nice profit. It went ahead and was the gift that kept on giving. What a great way to end before my lovely daughter is going to be born on Monday. I’m really excited about that as you guys can imagine.

Going into next week what I would like to see is this. The market is still open at this point (while I’m filming this video). I needed to do this video in advance as we are getting prepared for baby to come. What I would like to see is us close down below this area (on my charts at 3:43). The 113250 on the RUSSELL. The lower we can go the better and the reason being is multiple. Not just on a daily basis does this help but if it stays down here on the weekly chart it will kind of make an inventory retracement bar with a negative connotation called the distribution bar. As you can see here, if we stay at that 113250 area or lower that inventory retracement bar makes it much easier to continue on a path to the downside next week.

I would really like to see us close down here and put this market under pressure as a trader, of course. The lower that we can close below that area the better. That would be my preferred trade of choice. If we actually close above that area on the RUSSELL and we stay above this area on the S&P and we’re staying up here on the NASDAQ and the DOW. Do you see all of them are holding on for dear life at these key supports? If we stay there then I am going to be more guarded going into Monday morning. From my perspective, it is going to be very sporadic trading at best next week. The best trade I’ve got lined up next week is having my wonderful daughter come into the world. Pretty exciting time there.

Remember these thoughts:

It has been a great week. We do have some rising support underneath us and I really want to get this DOW below today’s lows. I want to get the RUSSELL below today’s lows as well as the S&P before getting aggressive for any further shorting.

In the end, the market was the gift that kept on giving over and over. Nice profits in the room as well. Nice trading taking place today and several of them to be seen and potentially nice setups as we go into next week if we keep pressure.

As we wrap up, I just want to thank all of you that went ahead and did all of this wonderful stuff to help us make this charity event for Toni a success. I will look forward to seeing many of you there tomorrow at this special event.

Have a wonderful weekend. I won’t be back with you for about a week. For Monday’s videos I have some Trade Like A Professional Series videos that I want you guys to be able to watch. Take care everyone and we’ll see you on the flip side.

 

Leave a comment!
Read previous post:
Rob’s Key Trading Thoughts For Friday

Exciting times, exciting times! Whether we are talking about the markets or we are talking about our little baby girl...

Close