ACTS Money Machine

5 Fatal Flaws of Trading

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0720.ET
World Markets are Mixed and  US Markets/Futures are Up some.
QQQQ/SPY are currently Trading at 42.94 / 107.94
The US-Dollar is Down slightly … but well over 79 now

Refer to my Weekend Analysis Commentary posted yesterday for my Trading Plan.

There are Big Economic Events out this morning .. at 0830.ET and at 1000.ET

AMC Commentary

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The Three Phases of a Trader’s Education: Psychology, Money Management, Method
by Jeffrey Kennedy

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0740.ET
World and US Markets/Futures are Down some.
QQQQ/SPY are currently Trading at 46.07/ 113.30
The US-Dollar is Up 0.60% .. nicely over 78 right now.
See last night’s AMC Commentary for QQQQ Targets.

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!

Techs appear to be the weak sister lately.

AMC Commentary

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Forex Video Course!

Are These 4 Emotional Pitfalls Sabotaging Your Trading?
By Jeffrey Kennedy

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0800.ET
World and US Markets/Futures are Down.
QQQQ/SPY are currently Trading at 43.09 / 108.19
QQQQ Resistance and Support: use the values shown in the S&R boxes on the Annotated Charts I posted in my AMC Commentary last night and before.

Check out the Economic Events due out today . . . be sure to remember their times and include them in your Trading.

Watch the 43.00 lower boundary area today. . . . should that fall, expect some further weakness today . . . allow for some Trading Down to the 42.95 area before getting too Bearish . . . and remember, if you miss the first Drop Down, there will be a rebound and test afterward to enter on.

AMC Commentary 

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Stock Assault Software

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0645.ET
World and US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 42.42 / 106.36
QQQQ Resistance is at 42.50, then 42.6x, then 43.0x – 43.20
QQQQ Support is at 41.90 – 42.0x, then 41.40 – 41.60, then 40.80 – 41.00

There are Big Economic Events out this morning starting at 0700.ET, with several Big Reports out BMO and soon after the Markets Open . . so watch out!

I am still looking to Short QQQQ Rallies as opposed to Buying Dips . . . I see a major Drop coming soon … sometime within the month of October.

AMC Commentary

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Penny Stock Profits!

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How IRAs Can Tie Investors’ Hands — and What To Do About It

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0745.ET
World/US Markets/Futures are currently slightly-mixed.
QQQQ / SPY are currently at 41.91 / 105.23
Read last night’s AMC Commentary for QQQQ Support/Resistance and Trading Plan.

There are Big Economic Events out this morning starting at 0830.ET .. then at 1000.ET . . so be careful!

Yesterday’s Action

Stocks fell Thursday, with the internals pretty weak, the Dow Industrials losing 41.11 points, closing at 9,707.44. NYSE volume was flat at 98 percent of its 10 day average. Downside volume led at 87 percent, with declining issues leading at 77 percent, with downside points at 93 percent. S&P 500 Demand Power fell 9 points to 397, while Supply Pressure rose 9 points to 367, telling us the decline was strong and powerful.

The NASDAQ 100 fell 14.51 points Thursday, closing at 1,709.76.  The Russell 2000 fell 11.62 points Thursday, closing at 601.75. The HUI Amex Gold Bugs Index fell 9.53 points Thursday, closing at 403.71. October Gold fell to 993.2. Silver fell to 16.10, while December Oil fell to 66.37. The Dollar rose 0.58 to 76.91. Bonds rose 10 ticks to 119^31. The VIX rose 1.46 to 24.95.

AMC Commentary

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How a Kid With a Ruler Can Make a Million
A Lesson in Drawing and Using Trendlines
By Jeffrey Kennedy

5 Fatal Flaws of Trading

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
World/US Markets are Up
QQQQ/SPY are currently Trading at 42.82 / 107.35
QQQQ Resistance is at 42.62, then 43.0x, then 43.30
QQQQ Support is at 42.4x, then 42.10, then 41.70, then 41.50 – 41.3x, then 40.80, then 40.20

There are some Economic Events out this morning starting at 0700.ET . . . the MBA Purchase Applications has already come out very positive.

Read my Commentary on the important Earnings Releases this week that will help determine overall Sector direction and Economic ramifications.

ConAgra Reported last night:

• Barrons
• SeekingAlpha

Use Monday’s Chart-2 as a guide for break-outs . . . this morning I will be AGAIN looking for an initial run up to the top of that range and even a little higher (42.7x – 42.8x) … and will be looking for a Reversal Down Signal to Open a Down position . . . if there is no Reversal Down position, then I will just watch and see how QQQQ reacts to any break-out higher.

AMC Commentary

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Robert Prechter’s Five Tips for How To Trade Successfully

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0815.ET
World Markets are mixed-flat as are US Markets/Futures.
QQQQ/SPY are currently Trading at 42.40 / 106.81
QQQQ Resistance is at 43.10, then 43.30, then 44.30 . . all new territory
QQQQ Support is at 42.30, then 42.00, then 41.80

There are no Economic Events out this morning . . . it should be very manipulated today . . . especially adding that it’s also a Quadruple witching day . . . keep in mind what I posted last night.
I personally will be away from my Trading desk and out Relaxing/Enjoying.

AMC Commentary

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Check back Sunday night for my detailed Weekend Analysis of Trading next week . . the start of the October Options Expiration Month.

5 Fatal Flaws of Trading

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0715.ET
World/US Markets/Futures are mixed-flat.
QQQQ Resistance is at 42.10 – 42.30
QQQQ Support is at 41.30 – 41.50, then at 40.80, then 40.60, then 40.40, then 40.20

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!
The Markets will be driven totally by these Reports . . . be ready for sharp reversals and extended moves. . . I will be waiting for the 1000.ET hour to determine direction based on a Reversal Signal that our Model gives around then (0950.ET-1010.ET) . . otherwise I will stay in Cash.
I do expect a move higher during the first 30-minutes to touch 41.80 (Weekly 144-ma) and then I’ll be looking for a Reversal Signal . . whether from there to go Down OR from a dip after that to continue higher again.

AMC Commentary

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BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
World and US Markets are Down Big . . . see Reasons why.
QQQQ Resistance is at 42.10 – 42.30
QQQQ Support is at 41.30 – 41.50, then at 40.80, then 40.60, then 40.40, then 40.20
See the Weekend Analysis I posted last night for further details.

The Economic Events out today are minor . . . some Bill Auctions and Fed Reserve Bank speeches.

My Plan is to wait for a Bounce from the Opening Down and then look for a Reversal Down Signal to Open a Down position (Short QQQQ or Long QID or Long QQQQ Put options). . . . I do not recommend just plain chasing the Open Down … wait for a Bounce and then a Signal.

AMC Commentary

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How A Bear Can Be Bullish And Still Be Right

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0645.ET
World Markets are slightly Up and US Markets/Futures are Flat.
QQQQ/SPY are currently Trading at 41.54/104.83
QQQQ Resistance is at 42.10 – 42.30
QQQQ Support is at 41.30 – 41.50, then at 40.80, then 40.60, then 40.40, then 40.20

There are Big Economic Events out this morning starting at 0830.ET . . so be careful!

My Plan is to watch the Open for a slight Down move due to some slightly bad news out BMO and then look for a Reversal Up Signal using the 1- and 5- min (VVST- and VST- System) Charts . . . . I would then Open an Up position (Long QQQQ or Long QLD or Long QQQQ Call options) for a Day-Trade (not holding over the weekend).
Otherwise I will not chase higher nor try to catch a sharply falling knife.

This Bear is becoming Bullish . . LOL

AMC Commentary

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