Nagging Indicator

Nagging Indicator The market protected most of Friday’s insane gains in a lackluster trading pointing to a week of slow holiday markets.   While the markets may suggest blue skies and smooth sailing on the horizon, there’s a whole new set of global economic worries that of course will be largely ignored. Rational behavior and economic fundamentals are soooo last year.   The markets can behave like a petulant teenager because there’s always someone there to bail them out and pay the bill. That of course, is Papa Ben Bernanke and the FOMC, who will make sure that there’s no ultimate accountability.     It’s like the parent who repeatedly tells their teen to be home by 11:00pm and then does nothing when the kid shows up at 2am. In the end, the tough talk and dire warnings amount to nothing more than nagging.   For the markets, Monday’s main nagging indicator came from the JPMorgan Global Manufacturing Purchasing Manager’s Index, a broad measure of manufacturing activity across the world. The PMI fell to a three-year low of 48.9 in June.     The reading below 50.0 in the US signals that manufacturing activity is contracting for the first time since last November and only the second time since 2009. But a global manufacturing slowdown means nothing to the markets.   Let’s face it. Nobody wants a summer bummer.  Sullen teenagers and bear markets aren’t any fun at all. Trade well and follow the trend, not the so-called “experts.”   Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.   larrylevin@tradingadvantage.com Trading Advantage (888) 755-3846     Larry Levin's Trading Advantage is a leading investment education firm that empowers traders to achieve and surpass their financial goals. More than 50,000 students have used Larry Levin's proven techniques for powerful results.     Trading Signals from the Electronic (ES) mini-SP 500                               VA sell @ 9:24am at 1354.75 = +2.50 (1 lot) VA sell @ 12:19pm at 1355.75 = +1.25 & +2.00 (2 lots) Algorithm positions (5) “Reading the Tape” positions (0)…combined Secret’s, Algo, &   “Reading the Tape” total… +6.50    Click Here to See Yesterday's Detailed Results           Value Areas: ES        1355.50 / 1351.00 POC... 1351.50 YM      12789 / 12743 NQ       2615.75 / 2605.25           Notes from the Pit Click here to read My Links: See how I became a trader See Larry's recommended trading computers Read about my intensive Training Programs IMPORTANT NOTICE: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results. DAYTRADING involves high risks and YOU can LOSE a lot of money. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those talked about in our site.

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