Official Room Calls: 5/5 trades green for a total of +26 points (+5, +2=[3/6*10 + 3/6*-6], +6.5=[3/6*5 + 3/6*8], +7=[3/6*5 + 3/6*9], +5.5=[3/6*5 + 3/6*6]) or +5.2 points per trade per contract.
Note: The last two rows in the track record which have a time stamp one minute apart (2:54 PM and 2:55 PM) are actually one trade: an initial entry and scale-in point which was taken off +5 points from its entry.
All Official Room Call signals were profitable today. We got a range contraction, with the day's trading range ending up at 58 points, which is exactly 1/2 of yesterday's 116 point range. For those of you who have been following along with our blogs and daily recaps, we make note of high and low volatility days. Some of our market analysis is based on the theory that volatility moves in cycles of high/higher volatility to low/lower volatility and vice versa. Today's trading range contraction is to be expected, considering that we got a very high volatility day yesterday. Today being a Friday would also tend to add somewhat to the odds of a range contraction, as traders tend to take Fridays off or head out early in the afternoon, which decreases trading volume. After the morning sell-off, the trading was confined to a trading range between 12685 and 12651 (the low of the day, which was just 2 ticks below the daily S1 pivot of 12653). The main inflection point was yesterday's low of the day price of 12666, which acted as both support and resistance, as there were many oscillations both above and below this level. The afternoon trading was mostly pretty quiet and choppy.
So far Alex has called his trades 252 correct out of 317 trades, with 2 BE trades. Great signals again Alex!
Text Transcript (all time stamps are in EST
Executions/Track Record: http://www.puretick.com/trkrecord.html
Morning Session (FREE on Fridays): http://puretick.com/audio_logs/alex_02232007_morning.mp3
Afternoon Session (FREE on Fridays): http://puretick.com/audio_logs/alex_02232007_afternoon.mp3
Related Blogs/Podcasts (for additional details of the day's action):
Morning Session: http://www.puretick.com/blog/?p=128
Afternoon Session: http://www.puretick.com/blog/?p=129