Trading Blog: TnT Group

Mark here.

Today we had PPI, Initial and Continuing Jobless Claims, and Philadelphia Fed for numbers. PPI ex food and energy came out as expected. Initial claims was 450k vs. an expected 459k and continuing was 4485k vs an expected 4464k. Although the revised number on continuing was much worse 4569k vs 4478k. Philadelphia fed number was -.7 vs an expected .5. These number were not good or bad enough to move the markets.

Looking at the markets there is not much going on. The Russell 2000 had been week to the S&P for most of the day. Oil is lower from yesterdays settle with the dollar not doing much all day and  30Y bonds are  25/32 lower. For the most part there is not much going today.

Levels I am paying attention to……….

The Russell 2000 ( mini future) has double topped at 652.10. A daily settle below 639.70 would target 627.30 to the downside.

A daily settle below 1110.00 in the  ES ( mini future) would target 1100.00. We have to be careful with the 200 day moving average coming in at 1103.75.

Good Luck Trading

Good Afternoon…….. Time for Brian Tehako’s viewpoint on the market.

TODAY WAS NO FUN!!!!

Today I saw the curve being very sensitive to the dollar.  I know some days this works and some days it doesn’t… But today was sick how it worked.  But no matter if they wanted to buy the curve or sell the curve, the market direction in the debt market is up.  This rally is getting real crazy.  WHO WANTS THESE RATES?

I do not have a problem if the debt wants to rally because the equities are getting the beatdown they deserve, but the things rallied today.  Not only did they rally today, but the good old USA stocks rallied stronger while the dollar is getting put in the woodshed out back.  This stuff confuses me.

So today the dollar goes down……. Buy debt (OK, I can see that) , Buy commodities (Maybe, but even if debt is going up), Buy equities (COME ON PEOPLE).

HOW CAN EVERYTHING IN THE WORLD GO UP????????  WHERE DOES THIS MONEY COME FROM?????

I think the equities are a short…….. I am short, I will stay short, and I may even get shorter!!!!

On the currency front…….. I think this is a risk market kids…….. Watch the Euro/Yen….. It’s your DADDY!!!!

Have a great trading weeek……. Tomorrow is a big number day……. Mr. Turner will update you on all those numbers.  Today we had nothing even worth talking about.

Remember….. No drinking and trading.

Russell hit its target over night and traded through it a few handles.  During the pre-open there was a sharp sell off in Equity futures possibly off a strong dollar.  What initially looked like a dollar move quickly turned into what seemed like a risk allocation type play and on the open equities pared their loses.  We’ve basically sat in the same tight range since the open.  Can’t really say that an appetite for risk has re-entered the market or some short covering took place….we’ll have to wait and see.

Hi everyone. This is Mark and I am filling in today on the blog. With the dollar screaming higher today, everyone is taking off there risky trades. Both European and U.S. stock markets are down, the euro has done nothing but sell off all day and is currently down over 300 pips. Oil has followed the stock market lower and as one would guess bonds are sitting near there highs of the day.

Levels I am paying attention to……..

With the Russell 2000 (mini future) settling below 647.70 yesterday my target is 615.50. The low so far today is 620.10.

With the S&P (mini future) holding 1129.50 I thought it could trade down to 1063.00. Looking at the charts today the 1084.00 level will be some support for the market. If this level can not hold 1063.00 would be next.

On Aug 6th the Euro future traded its 200 day moving average. It has sold off since then and the first daily support I have for it is 127.54 – 127.31 area.

Good afternoon everyone. My name is Mark Wasylyszyn and Thursday is my day to blog about the days events.

Today we had the BOE and ECB rate decisions. As expected they both left there rates unchanged and the ECB statement was nothing new. They continue to see moderate growth in Europe. Jobless claims jumped 19,000 to an adjusted rate of 479,000. This is the highest rate since early April. The Bulls cant be happy about this.

Following the jobless number stocks sold off and bonds rallied as one would expect. The dollar rallied of yesterdays lows but did not get above yesterdays highs. If you missed selling the S&P (mini future) on the number the market gave you one chance at 1122.25 which we had as resistance. The market since about 9:30 has done nothing but trade sideways. Everyone is waiting for NFP.

Looking ahead to tomorrow. Two things I will be keeping  an eye on are Average Hourly Earning and Average Weekly Hours. Since everyone is afraid of deflation these numbers could be more important than usual. Especially if the rest of the data come out as expected.

Levels I am paying attention to…….

A daily and more importantly a weekly settle above 1129.5 in the S&P (mini future). The market could make a run at 1165.25. If 1129.5 holds as resistance we can come back down and test 1063.00.

A daily and more importantly a weekly settle above 667.10 in the Russell 2000 (mini future). The market can test 711.00 and has a potential target of 742. If 667.10 holds and we get a settle below 647.70 my target would be 615.5.