No new trades with LS Trader this week – just moving of stop losses for members currently in trades. You can register for a free email newsletter which is sent out each week & gives a general overview of the markets. Makes an interesting read and ive attached it below.
Hopefully next week will provide a couple of trading signals but until then there is nothing else to do with this service. I think this is defnitely one to be looked at as part of a portfolio with 2 or 3 more active services – like Winning Dow Signals and Wealthbuilder for example – because its more like a self-managed fund than a trading system. Although if it performs anything like last year it may be all we need!!
It was another great week with the stock markets collapsing, and the model account is now up 30.9% in profit for 2009. The week we saw 6% decline in both the Nasdaq 100 and Wall Street, and 7% falls in FTSE 100 and the S&P500.
We are now at a new equity high for 2009 and this is pretty good considering how volatile the markets have been. We are on our way to achieving our average target per year of 150%, and I can actually see us out performing this average, just like last year when we made 1504.1% profit.
We are now in 30 trades and 20 of these are showing considerable profits, with the biggest being Wall Street (profit of 1644 pips), German Dax (profit of 705 pips), S&P500 (profit of 124.38 pips), FTSE 100 (profit of 425 pips) and Eurodollar (profit of 652 pips).
If you are not a member of LS Trader, you can still join us, and start making these phenomenal profits today. To join the LS Trader system, click on the link below:
Please note that this is a free weekly publication for members and newsletter readers, and to access the full weekly trades and login to the members area you will need to sign up.
The LS Trader Financial Spread Betting Weekly Update
From last week Its difficult to set any downside targets from here for the S&P500 as there are no support levels to look at. Therefore the psychological round number at 700 may be the next destination. The S&P 500 tested 700 on Monday hitting a low of 699 before moving lower and hitting new lows at 665. The markets then went higher late on Friday and may head back up to 700 again. The last time the S&P was at 665 was back in September 1996.
Wall Street fell through 7000 this past week and hit multi year lows at 6460 before moving higher to the close. The last time we saw Wall Street at these levels was April 1997.
Also from last week The FTSE still looks set for a test of the 2008 lows at 3680 and should be considered bearish as long as 4000 holds and provides resistance. If 3680 is taken out then we should see 3500 and I certainly dont discount the possibility of 3000 before the end of 2009.
The FTSE took out 3680 and went through 3500. The lows set at 3277.5 back in March 2003 could be a key level for the FTSE if it falls that far. For now the range looks to be between 3456 and 4000.
In last weeks commentary we wrote that gold may be susceptible to further declines to around the $900 level if the market fails to get back above $950. Gold did have a go at staying above $950 but failed at $952 sending the market back down to a low of $905.5. At this point buyers came in and the market moved higher to close at $942.7. We may see another go at $950 this week but failure to clear this level may see another move back to around $900 support.
Crude Oil was higher again but has yet to take our resistance at $47.65. We may get a test of that resistance level this week which will determine the short term trend for Crude. Natural Gas fell through the 4000 level and closed at a contract low of 3945 as it continues to edge lower. The long term trend remains down for energies.
Commodities on the whole had a down week as the commodity bear market continues.
From last week the Dollar Index found support at the 8600 level and closed above 8800. We may now see a test of contract highs at 8974. The Dollar index fell just 3 points short of our target at 8974 before pulling back. Resistance at this level needs to be cleared otherwise a pullback to around 8600 is on the cards.
Interest rate futures
Interest rate futures were higher for the week with gains for the 5 & 10 year note as well as the 30 year T bond. The 3 month Eurodollar fell to its lowest level since the 18th December 2008. We still wait for clear direction in these markets.
Good luck in your trading
Robert Stewart & Phil Seaton
The LS Trader Team