"If you're one of the poor ones, you just gotta work hard..."

So, if you read this blog and don't follow me on twitter, don't talk to me in trading chats, or have just been in the dark with what's going on, you probably thought I fell off the face of the earth.

Even some of my trading partners were curious what's going on. I'll tell you what's been going on: undergraduate education. You know, that huge waste of time that essentially puts all of the many different kinds of people into one establishment, pours a lot of generalized garbage into one container, blends it all up with vague references of how it will benefit your life, and then makes you drink the concoction for 3-5 years.

So that's what I've been doing. Drinking this toxic waste of time they call an education. You can say my attitude about generalized education is less than ecstatic. I know full blown retards with a diploma on their wall at home, happy little cunts with no job and no future. And guess what their solution to their drunken-with-bullshit misery is? Go back and get more of it. That's right: edumacation round two.

Anyway, that's not what this post was supposed to be about. Remember, I remove my backspace key when I write these things, none shall be spared the writhing rant wrath.

There's one thing that I thoroughly love about myself - and that's the ability to survive. You could say I'm something like a cockroach. I'm dirty, bad for you, and worst of all I just won't go away.

If there's one thing I can say I remember from school that has benefited me in the long run, it was the quote everyone must hear all of the time, "if you want something done right, do it yourself."

Here's my new blog: PredatoryTrading.com

The E-Mini S&P 400 futures contract has been range bound the last three months, but that could change should 945 give way.

Trading Range

The daily chart of the MC futures contract shows price has traded within a clear trading range since February, as a shift from expansion to contraction was seen. Price has established very clear levels of both support and resistance, which span from 945 to 1,010. Responsive buyers and sellers have been quite active at these levels, which have kept prices within range, but a breakout could be near. The fact that this trading range has formed at the highs of recent advance is generally bullish - at least longer term.   E-Mini S&P 400 (MCM2)


However, this contract has rallied 150% since the 2009 bottom and has had trouble crossing the 1,000 to 1,020 band of resistance over the last year of trading, which could put a damper on current strength in the near term. If this resistance level can be taken out, we could see a major release of energy to the upside in the months ahead, so keep this area of resistance in your sights.


For now, we'll have to watch the 945 support level very closely, as a violation could easily lead to continued weakness. Such a break could spark initiative selling pressure, which brings various downside levels into play, namely 920, 900, and 875. Responsive buyers have maintained control at 945 so far, but the battle lines are clearly drawn. Let's see how this one plays out!

I'm in Dallas Tonight!

I'll be speaking at the Association for Technical Analysis (AfTA) meeting tonight in Dallas! Come see me! I'm delivering two presentations - one that is FREE to the public, and one that is for AfTA members only. Guests can also attend the members-only presentation for just $25.

You can read more about the event at my website HERE and on the AfTA website HERE.

I'm looking forward to seeing you there!


Frank Ochoa
PivotBoss | Own the Market

Follow Frank on Twitter: http://twitter.com/PivotBoss

Friday, April 20, 2012 at 8:16 PM Posted by Zachary A. Musso 8 Comments

As you have most likely noticed, I have not been writing on the Young Guns Trading network in the last month or so.  There are many reasons for this, and below, I will be highlighting every single one.  Before getting into the specifics, however, I'd like to take a moment and let all of you know that although I was a co-founder to this site, I will be moving on to join the ranks over at StockTwits U in order to accomplish the mission I've been meaning to accomplish for years:  to promote, advertise, and create a united bond among university trading and investing clubs to bring them resources that they are seeking and to bring them connections that could fill a Rolodex (if business professionals still use those things).

With 2 weeks to go until the one year anniversary of Osama bin Laden’s death (and the $49.82 top in silver), the waiting game continues for those invested in silver. Over the past year, I made the decision to go ALL IN on physical bullion. This is after being a profitable part-time trader for the majority of seven years.  I currently own 1,455 ounces of silver in Johnson Matthey bars, American Eagle, and Maple Leaf coins. I add more when I can afford to.

As someone who is no longer concerned with short term price fluctuations, the main reason why I continue to accumulate silver is the global supply. The United States Geological Survey has stated that at 2009 production levels, the supply of below ground silver would be diminished by 2020. Do I really think silver will become extinct? No. But I do think this simple fact will cause silver to increase rapidly in value in the coming years. The supply issue alone is a good enough reason to invest in silver. Of course, the very strong possibility of more quantitative easing in the future will benefit all commodities as well.

The S&P 500 has experienced its largest retracement of the year thus far, as the index has dropped from 1,420 to 1,360 in a brief 5-day span. Will the smart money see this as a buying opportunity, or as a change in trend? Here are my thoughts..

Weekly Chart

The weekly chart of the S&P 500 shows the current pull-back has been relatively modest thus far. We're talking about a 65-point pull-back after a rally of more than 165 points year-to-date, and about 265 points since the current rally began late last November.

In essence, more must be seen before we can declare the current bull trend dead.

The large triangle pattern with the narrow pivot range that I wrote about to begin the year continues to produce. The fact that the index sprinted out of this pattern is indicative of decisive strength. Strength that is led by powers that are not likely to relinquish control without a fight.

S&P 500 ($SPX)

As a matter of fact, the current pull-back may indeed be much healthier for the overall bull trend, as the market has not had a decent retracement all year. Buying begets buying, and pull-backs beget buying, too.

Simply put, this pull-back could be seen as a buying opportunity by the smart money.

This is a recording of a trade I made in $STI from 03.14.2012 - the reason for my recording of these videos is to analyze the tape to become a better trader. Hopefully, by uploading these videos and voicing my analysis of my own trades, I can become a better trader while assisting anyone else interested in shortening their learning curve to become a consistently profitable day trader.

I highly recommend watching the video in 720p and in full screen in order to view the tape as close to what it really is, which is extremely quick at times. The video has a slight delay but I believe it is adequate for what it is: a learning tool.

There will be many more like this to come - this video just took a while to produce because of many technical issues. Many seem to forget I am learning everything on my own. I have no mentors, no teachers, no one I pay to hold my hand. I am at the complete mercy of the market, which can be extremely harsh at times. My learning resources are purely free resources online, which are EXTREMELY difficult to sift through the absolutely immense amount of garbage, but nevertheless, I find and test what works for MYSELF and practice until I see improvement.

Questions, comments, any constructive criticism I accept with open arms. Thanks for watching...

Wednesday, March 21, 2012 at 9:17 AM Posted by Tradermarket247 8 Comments

Let's end MARCH with these SEXY setups!!

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