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Daily Market Commentary



Friday, December 08, 2006

 

 

NetPicks' Live Webcast + Blog

Ultimate Trading Machine Webcast

Yesterday Netpicks released a "Forex and Futures Top Ten Trading Secrets Video" + a special Bonus "Insider's Guide" report that really hit home to the 3100+ traders who downloaded and viewed these very helpful guides.

Elements such as removing the subjectivity, using one simple indicator instead of many, and grasping an entire new market or trading approach in a matter of days instead of months. The truth about proper leverage, what tools you really must have, and what the brokers just don't tell you, among several other key points we touched on.

If you are a trader, and haven't yet downloaded this no-c ost, totally unique and eye opening Myth Busting Video, + bonus report, you absolutely need to go to and get it right away on the Netpicks Ultimate Trading Machine (UTM) blog.


Ultimate Trading Machine Blog

(Scroll down about half way to find it)

As you can see, the blog is live, and it shows the exact results that this strategy you will soon learn about, gets each day.

Here, you will see details of the last release on there done in October (this hasn't been available for purchase since), including videos, commentary and more. Plus we will be adding recent videos of trades taken this week as well.

If you are at all skeptical - GOOD! You should be. There are many systems that are readily available, making all kinds of claims. But none of them come even close to the UTM, and they will show you specifically why in a just a few days.

Ultimate Trading Machine Webcast

 



Mark this date and time in your calendar right now... Tuesday, December 12th at 9PM EST. This is where you can reserve your spot:

Ultimate Trading Machine Webcast

The folks at Netpicks are holding a live webcast this Tuesday, December 12th at 9pm EST (New York Time) or 6pm PST (Pacific Time.)

It is very important you attend, Anthony Trister, along with Netpicks chief developer will be in the call, and this will afford you a very rare chance to hear him speak live, and get all your answers directly. This is where you can reserve your spot:

Ultimate Trading Machine Webcast

Wewbcast will be covering specific information about the system, showing charts on how it trades, the markets it covers, why it is so powerful and just how it can be so accurate, as well as the answers to the other unknown's mentioned above.

There is a void in the marketplace, and the UTM fills it. While most systems are subjective, and often complicated allowing much room for interpretation, mistakes, and varied results, this is not. We all take the same setups, and we all get the same consistent results. In fact, when NetPicks did their internal launch back in October, the demand was so great, the offer was pulled several days early, as the copies simply sold out.

This Thusday, you will find out why. To register for the event go to:

Ultimate Trading Machine Webcast

Space is limited to the first 500 registrants, and it will fill up fast. This is an event you don't want to miss. More details will follow upon registration.


P.S. - Ultimate Trading Machine will be available once more on December 15th, 2006, for the last time this year, and the last time before the price is raised again to $1495 next year ... Click HERE

 


Trading Education Tutorial

Moving Averages and the Trend




Moving Averages Help Us Identify Trend Reversals

One of the old axioms of technical analysis is that 'the trend is your friend'. This holds true, as long as you trade in the direction of the trend. However, your 'friend' has two faces, and can turn on you to eliminate profits (and your friendship!). Trend reversals can occur at any time and one of the important skills a trader must possess is the ability to identify a reversal. It is easy to exit a position too early if we over-anticipate a trend reversal, and just as easy to watch our profits evaporate if we are too slow to exit the trade.

Read More...

 


Trading Education Tutorial

Pattern Cycles: Trends

The cult of Elliott Wave Theory intimidates the most experienced traders. But don't let wave voodoo stop you from adding important elements to your chart analysis. Strong trends routinely print orderly action-reaction waves. EWT uncovers these predictive patterns through their repeating count of 3 primary waves and 2 countertrend ones.


Wave impulses correspond with the crowd's emotional participation. A surging 1st Wave represents the fresh enthusiasm of an initial breakout. The new crowd then hesitates and prices drop into a countertrend 2nd Wave. This coils the action for the sudden eruption of a runaway 3rd Wave. Then after another pullback, the manic crowd exhausts itself in a final 5th Wave blowoff.


Traders can capitalize on trend waves with very little knowledge of the underlying theory. Just look for the 5-wave trend structure in all time frames. Locate smaller waves embedded in larger ones and place trades at points where two or more time frames intersect. These cross-verification zones capture major trend, reversal and breakout points. Read More...

 


NASDAQ Chart of the Day




CTXS is holding firmly at major support at 27.60, which has held since August. Watch for a big break or bounce off this level for the next key move. An upside push through 29.75 could spark big strength; while a break below 27.25 will indicate a failed support level.

Daily Trading Signals

 


NYSE Chart of the Day


CY has formed a clear pennant consolidation at the lows after taking a large gap down a month earlier, which is typically very bearish behavior. Watch 16.75 for a downside break from this bearish wedge for much more selling potential.


Daily Trading Signals

 

 

Daily Market Commentary

Updated Thursday, 12/7 for Friday's market.

Key DOW Levels for 12/8

P

Above 12,375

DN

Below 12,075


Resistance Holds...

- Dow bounces off key resistance, drops remainder of session. The index cannot rise above the major 12,350 resistance level, which could make for more sideways-to-down movement within the larger trading range.


- The NASDAQ and S&P each sold off the opening highs today, making for steady weakness for much of the session. Each index continues to pull back from key highs, which means we could see further retracing ahead.


Summary

The Dow ended the day lower after selling opening strength to begin the day. The index continues to hold beneath key resistance at 12,350, which we will continue to watch for a big break or bounce. Further sideways movement could be seen between 12,100 and 12,350.


Read More...

 


P.S. - Swing Trading is the art of capturing profits in trending stocks in a relatively short amount of time. Millennium Trading offers Swing & Day Trading Strategies for the full or part-time trader. » Get More Info Now!


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