Here’s A Must See Trading Video From Rob Hoffman

Hey gang, welcome back! I’ve got a lot of great stuff to share with you again tonight but before we do that one of the most important things that I can share with you this evening is this form that we’ve created. In these nightly videos I spend a lot of time talking about what is happening in the market on a higher level. We look at some of the futures trading, gold, crude oil, stocks and options occasionally. To really get the information that you want here you can fill out our form by clicking the link below and tell us more about your trading interests.

Trader Interest Form – Click Here

Regarding today, it was a fantastic day! We walked in the door and we used the same strategy that we share with you each night here. We wanted to see what is happening with the speed lines and where we are at with the speed lines. Are we above or below in the market? We identified that the RUSSELL was very weak this morning and we were watching it pullback. So, the thing is, what we notice about this particular day is that we were very near key support levels walking in the door. You can see me mark this on my screen at 2:42. All of these were key levels and some of these, if we break these, look out below because we’ve got plenty of opportunity for further downside. Right now you have the forces of good and evil depending on what side of the trade that you are on. We’ve all heard the things about George Soros being heavily short the market but we know there are a lot of funds that are very long the market need to defend their position. You’ve got a big battle taking place right now. You’re seeing these whipsaws and boy did we see them this morning.

When we opened up this morning we had a quick whip to the downside. I told the group that that parabolic move was unsustainable. We were walking in and they were making it really convenient for traders to want to go ahead and get short. I think that is a bad idea and we were talking about a V-spike. We continued to talk about the V-spike as you can see here (on my screen at 3:37) at 8:52 in the morning. I was warning people about that. Sure enough, what happened was that we did get that spike. In fact, we pushed up much high than this. What that did was make all of the trends go sideways. It really damaged up the trends so there wasn’t a lot to do this morning. Then I said that we should take a look at some of the key instruments like the RUSEELL, which has been a leader as of late, and see if it starts rolling back over and pushing up. It started rolling back over here. That is what really set us off for the great opportunities of the morning. As this rolled over it lead to five fantastic trades in the Live Trading Room this morning. We thought we were done at one point but all of a sudden one more great trade came in and I did that one with a little bit more size. People got to really enjoy a great trade there as well. It was a real nice end to the bang.

We’ve had these three trade days, four trade days, and now five trade days in these couple hours here. We are having a fantastic 2014! Last night we closed out the UVXY position in our Options Program.

There is a lot of great stuff happening here. As we go into tomorrow the strategy is going to be very similar. We know that we have a few minutes on the clock here this afternoon and it is going to lock in some accumulation bars on the NASDAQ, DOW, and the S&P. The RUSSELL still continues to be the lagger in here. A key thing is to see if we can get down below those accumulation areas we are going to be watching even more aggressively for heavier selling. If we hold up we are caught between a rock and a hard place in what I refer to as the kill zone. This is where we have rising long term support and the speed lines are coming down on top of us. That is going to have to resolve itself one way or another for me to be excited about being aggressive. It is probably going to start out slow again tomorrow morning just like this morning. This morning quickly picked up quite nicely.

This market has great opportunity for those who are willing to wait patiently to see if we break down through key supports or break up through key resistance levels. That will help lead the way.

As far as things that we like to look at occasionally:

GOLD is sitting here doing a great job of pushing down through that key support. At this point we are going to continue to look for sell side trades which is the only thing we can even look for at this point

CRUDE OIL did get above the 10100 level and so we are continuing to look for fresh long side signals here as long as we stay above that 10100 area.

I look forward to seeing you all in the Live Trading Room tomorrow morning or in the night videos this weekend. Take care.

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