Shogun Trading

Slow day as expected. All trades were scalps. For longer term trades I’m waiting to see if the SPX makes a lower top or continues it’s bounce off 992.

ShogunTrading.com

Trading volume was very low for the week as expected, however, we were still able to catch some very nice trades by following the movers and making sure they met our risk:reward standards.

Volume may still be low to start the week on Tuesday but I expect it to increase going forward. Keep an eye on the market trend on all time frames. The SPX bounced off 992 and a few things are possible from here. It may consolidate, it may turn back down and make a lower top (indicating a reversal in trend), or the bounce could continue. As daytraders we must be flexible and let the market tell us what to do. The market is always right.

ShogunTrading.com

P.S. The weekly market analysis video will be posted on Monday night this week because of the holiday.

The SPX opened lower for the 3rd straight day. It pulled back into positive territory before a small dive into close. The morning was still where the action was at. This time we called very short term trades both long and short AIG, FAS, FAZ, and SKF.

We may get a small bounce Thursday and volume should decrease going into the holiday weekend so please stay cautious.

ShogunTrading.com

We had a nice selloff this morning lead by the financial sector with suprisingly high volume for what is typically a slow vacation week. I also found it interesting that Treasuries and Bonds didn’t rally and the USD got only a small bounce. We had an entire buffet of stock calls to choose from but RIG and MON were our best.

Don’t forget the week going into the Labor Day holiday is typically slow. Don’t push your trading until you see the markets moving and consider taking afternoons off. Also keep an eye on the SPX daily chart. It broke out of a rising wedge pattern and may be coming down….EDIT: Sorry, it was the SPX futures (ES) that broke out of the rising wedge.

ShogunTrading.com

Volume was extremely low as expected. We took some quick scalps on AAPL and AIG and played safe the rest of the afternoon. Expect the same for the rest of the week.

ShogunTrading.com

Hi traders,

We had a pathetic week in terms of volume as is typical for late August. We still had a very nice trading week by being picky with our trades and finding the best movers. We have one more week before traders start returning from summer vacations then volume should pick up.

ShogunTrading.com

We are going up. Employment and retail sales reports worse than expected…It doesn’t matter, we’re still going up because the Fed. is purchasing in the open markets and we have our typical low volume in August.

Volume should begin to pickup as traders return from vacations and their kids go back to school. In the meantime we will try to maximize our trades on the long side whenever we see momentum with the occasional scalp on short term pullbacks. The morning trading session is still key.

ShogunTrading.com

The SPX gapped down and appeared to be continuing its drop from Monday after a pullback Tuesday but SUPRISE!, we shot straight back up to 1,000. We are right back within our previous range with 992 support and about 1,013 resistance. My expectation now it that we’ll continue the bounce as we have done every time the markets try to break support.

As you might expect, our trades on the long side worked the best today. That will continue to be the case as long as we continue our bounce. Mornings are also still where most of the momentum is at at least until after Labor Day.

ShogunTrading.com

Hello again all. The markets finally pulled back today as the FOMC meeting got under way. The longer term uptrend was broken for now and the SPX may be setting up a head and shoulders pattern. The current support level is just under 991.50.

Continue to be cautious until the Fed wraps up their meeting and expect the best trading opportunities to be in the morning.

ShogunTrading.com 

Hi everyone. I hope you all enjoyed your weekend and were ready to get back to work. This past Friday we had some nice trades including our unofficial trade of the day, AIG; and we ended the week with a long call on FAZ that worked for us nicely. This morning the SPX was a choppy mess but fortunately we had some movers in our focus list and were able to take advantage of some nice moves in  FCX, CSIQ, DISH, AIG, RIMM, and FWLT. Once the SPX got moving it slid for most of the day then pulled back and leveled off in the afternoon as traders are now waiting for the FOMC meeting on Tuesday.

We are going to play it safe on Tuesday as FOMC days are typically not the best trading days.

ETF Beta testers: please see my last post HERE.

Have a great night!

Dedicated to Maximising Your Profits

ShogunTrading.com