Hey Folks, I hope you’re all enjoying this weekend…its exciting times here at Trader User Group as I just announced a new Service called Pre-Market Trader…many of you have already responded to the email I sent out this past Friday that describes what’s included with this new service…so far we’ve gotten a number of you that have said “sign me up” and that is always nice to hear…if you haven’t had the opportunity to see the email or have not received it then please send me a note at hpbrent@aol.com and let me know…you don’t want to miss out on this new opportunity as it will take your investing education to another level….

Oh, and one more service I’ll be announcing shortly and I wanted to give all o f you a heads up on…this service will allow you to reserve some time with me one on one via Skype for educational purposes…you may have a specific topic, trade strategy or some other topic you’d like to discuss and now you’ll have that opportunity…again, this new service is a result of listening to what our members have been asking for…so stay tuned!!

So, lots of new and exciting stuff coming your way….now, check out this week’s trading update….enjoy!!

Trade Smart — Not Often

hpb

Hey Folks, I hope you are all enjoying the Weekend…we had a very good Monthly Session this weekend and for our Members I reviewed a new indicator I suspect many of you are not familiar with…but it will help you tremendously so after the opening market recap video in this blog I would invite you to the Member’s Home page to view the video update for this past week…I go into more detail on using this indicator…I am sure you will enjoy it!!  Also I announced a new service that Trader User Group will be implementing very soon….it will be called Follow-the-Trade and this will allow you to actually follow trades that I am taking…it was very well recieved by the Group this weekend so as we get closer to launch I will send you updates..

By the way, this past weekend’s session is already posted in our Learning Center to I invite all our members over to go check it out…I have also posted the presentation one of our members did on how he uses Trade Finder in the Option Vue tool…I am sure you will like that review as well….

So, lots of stuff to check out…enjoy!!

Trade Smart — Not Often

hpb

Hey Folks, I hope nobody starting celebrating yesterday’s bullish move in the markets…as I said in my previous post, stay nimble as we have more downside bias possible…well, the downside action today should not be unexpected by those of you following our updates….do you remember when bad news still caused the markets to react by simply moving higher?  Well, now we’re in market conditions where the very same type of bad news drives markets lower…the bears are out and market sentiment has declined with everyone looking for a reason to sell…and boy are there plenty of reasons to be short equities; -Greece and the possible Euro meltdown, bad housing markets, US debt and a “do nothing” Congress, China inflation and of course let’s not forget the ending of QE II coming up in another few weeks…

I could go on, but you get the idea…oh, and VIX finally broke to the upside by over 16% today to finish at 21.32…higher volatility does indicate the markets are getting “antsy”….and the Oil markets also cratered today as well….

Looking at the chart of the E-Mini’s below you can see where we are currently residing  indicates we’re now at what I would call another key inflection point…looking at the yellow band which represents the support zone you can see that it is bounded by 1260 and 1241…I will be watching this closely in price action tomorrow to see how it plays out but a break below 1241 would indicate to me we’re moving much lower, possible down below 1200…and a break above 1260 could indicate another possible bounce higher…much like yesterday…right now we are sitting almost right on the 200 day EMA…so far it has held up, but should it break down then I think a test of the 1241 area will happen rather quickly…at that point I will look to see if buyers step in…one thing that is not good is the financials or banks all had a bad day…and in order for the markets to really get back into the game and renew their upward bullish trend we will need banks to help lead the way….

Most of my positions have been either in cash or very short term; -for example a short in Bonds yesterday worked out very well as did the short in the Euro…now the only position I am holding overnight is Bonds…we’ll see where we go tomorrow…..

I look forward to seeing you at our Monthly Saturday Session and for those that cannot make it there’ll be a video recording of the Covered Call session for our Members posted in our Strategy Tab in the Learning Center…

Trade Smart – Not Often

hpb

Hey folks, I have included a daily chart of the S&P E-Minis below for your review…as you can see, the markets had a strong bounce today but it is not time to pop the champagne cork and yell out the Bulls are back!  As you can see, the markets fell hard down and found support right on the 200 day EMA before rebounding hard up today….looking at this chart you can see we have a good deal of overhead resistance with the physiological barrier at 13oo and the 50 day EMA…so stay nimble until we can determine if the markets can find the strength to move up and over these key resistance points….otherwise, just consider this move up and temporary thing (a dead cat bounce) and then a move lower will take over probably after this option expiration period ending this Friday…

As a reminder, we have our Monthly Saturday Session coming up this weekend and hopefully you can make it…we’re covering Covered Calls and one of our Members, Ted will demonstrate how he uses the Trade Finder tool in Option Vue to spot opportunities for him to trade.

Trade Smart — Not Often

hpb

Hey Folks, I hope you are all enjoying the Weekend…as a quick reminder, coming up next weeekend is our June Monthly Saturday Session so make plans to be there…our topic for the session will be Covered Calls so I look forward to seeing you all there…we’ll also review the current markets, select another trade for the next option expiry period and as a special treat, we have one of our members, Ted present to us how he uses the Option Vue Trade finder to help him pick trade opportunities…and of course for those that cannot make it we’ll be recording the session for posting in our Learning Center for viewing by our members….

Now, on to this week’s market recap….enjoy!

Trade Smart — Not Often

hpb

Hey Folks, just a quick update; -the LNKD Call Credit Spread was closed today for a nice 15% winner in only 7 days of position time…it is clear the markets are moving in the direction I have been talking about for many weeks now (see prior weekly video updates)…when markets are in a corrective mode like this then running Credit Spreads with Calls is where you want to be and so far we’ve hit success on 3 for 3…we also used a Put Credit Spread for success and I am now running a Butterfly on Ford [F] where an adjustment was needed but I feel good about that one as well….we’re 5 for 5 on trades thus far…of course we can never expect to hit all of them but managing your risk and taking your profits when you can really does put the probability of success more in your corner.

I have also been approached by a number of Members and based upon our conversations am now considering adding a really cool new level of service to our User Group…we have our Monthly Saturday Session coming up a week from tomorrow and I will explain to the Group if they would be interested in this new service I am considering…if enough folks like this and find it worthwhile I will then put it together for everyone….I believe it will be exciting for all, but as I always want to do; I want our Members to give me feedback on everything our Group does so that I can ensure I am doing the best I can to educate all o f you on how to properly put the odds of success in your corner…

As a reminder,in our upcoming Monthly Saturday Saturday session we’ll review Covered Calls…in addition, one of our Members will do a presentation on the use of a really nice tool in Option Vue called Trade Finder…he’ll showcase how he uses it to find trade opportunities…all in all it promises to be a really good session…also, for those in attendance if you have a trade you want to discuss then be prepared…as usual, we’ll pick a trade for the Group to follow for the next monthly expiration period.

Trade Smart — Not Often

hpb