FuturesBoard.com - Your Space for Futures Market Information
Welcome to Jim's Blog. Jim Prince is a 20-year veteran of the markets and the chief educator for The United States Chart Company and The Greatest Business on Earth - an educational and support site for commodity futures and option traders. Please visit gbemembers.com for information on our ongoing programs.
Long shots do come in and hard work, dedication and perseverance will overcome almost any prejudice and open almost any door.
John H. Johnson
Heating Up?
October 29, 2009 1:00pm
Some sectors are heating up today. . .
Quote of the Day
October 29, 2009 12:59pm
Succeeding is not really a life experience that does that much good. Failing is a much more sobering and enlightening experience.
Michael Eisner
March 2010 Silver
October 28, 2009 9:20pm
March Silver has sold off rather dramatically the last couple of weeks. So much so that Trend Seeker(tm) now says it's in a down trend. From the Oct. 23 high to the Oct. 28 close this market declined $8,625 per futures contract traded.
Today prices traded down into support near the 16.00 level. There is horizontal trend line support as well as a three month uptrend line support. This level is important because if it gives way to lower prices it's possible this market will decline to the horizontal support at 15.00 (see chart). Below that is support of the Daily 50% level at 13.536.
That said, it might be wise to watch this market for a potential fish hook to develop near this current support level. It could act as a launching pad to higher prices. However, we want and need to see Trend Seeker flip from a down trend to an up trend.
For now, I'm watching from the sidelines.
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Quote of the Day
October 28, 2009 9:42am
The true value of a human being is determined primarily by the measure and the sense in which he has attained to liberation from the self.
Albert Einstein
Quote of the Day
October 27, 2009 2:01pm
There is only one side of the market and it is not the bull side or the bear side, but the right side.
Jesse Livermore
Trading Camp
October 26, 2009 9:54am
We held our last Trading Camp of 2009 this past weekend and it was a fantastic time! I just love it when the group clicks with one another because it makes for a very lively and inquisitive weekend.
The interaction was fantastic with a plethora of really good questions during the two days.
I had a blast and it was a sincere pleasure working with the folks that attended.
Below are several pictures of the Trading Camp as well as our dinner on Saturday night.
Great times. . .
Quote of the Day
October 26, 2009 8:38am
At the end of the day, anybody who thinks there's a reward for nothing, ends up losing.
Kerry Stokes
Quote of the Day
October 23, 2009 7:28am
An attitude of gratitude creates blessings. . . Help yourself by helping others. You have the most powerful weapons on earth. . . love and prayer.
Sir John Templeton (Founder of the Templeton Funds)
Life in the Pit
October 22, 2009 12:11pm
I found this video rather humorous as well as enlightening. The thing that stood out most to me is that the emotions and thoughts of floor traders are no different than the man or woman that trades from home.
Interesting Video
October 22, 2009 11:54am
Here's a quick and interesting look at the New York Stock Exchange from a floor traders perspective.
Quote of the Day
October 22, 2009 11:52am
Don't quack like a duck. . . soar like an eagle!
Ken Blanchard
Quote of the Day
October 21, 2009 7:20am
We would accomplish many more things if we did not think of them as impossible.
Vince Lombardi
Gold Subscribers
October 20, 2009 3:55pm
I just produced another bonus video for Golden Opportunity subscribers. Find it in the Gold section at www.uschartco.com. Enjoy!
Mid-Day Action
October 20, 2009 10:42am
Here's a quick glance at today's mid-day action.
Quote of the Day
October 20, 2009 10:40am
Every time you turn green with envy you are ripe for trouble.
Unknown
Heatmap
October 19, 2009 10:02am
A quick glance at today's early action. . .
Quote of the Day
October 19, 2009 9:15am
A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others.
Chin-Ning Chu
Intelligent Observations
October 18, 2009 1:18pm
Perhaps you've read the statements below before, I know I have. Anyway, I like them so much that I thought I'd repeat them here:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation.
5. You cannot multiply wealth by dividing it.
Quote of the Day
October 16, 2009 7:30am
Never, never, never give up!
Winston Churchill
Lattice Multiplication
October 15, 2009 5:09pm
Here's a cool technique you can learn in just a few minutes to do multiplication of large numbers by hand. (Props to my younger brother for sending the link to me.)
Apparently this technique has been around since the 1200s!
Strong, deeply rooted desire is the starting point of all achievement.
Napoleon Hill
December U.S. Dollar Index Makes New Lows!
October 14, 2009 9:23am
The December U.S. Dollar Index made a new contract low today. A close below the contract low at 75.680 (10/08/2009) will trigger a Hi Lo Breakout strategy entry.
If you take a peek at the Monthly chart below you'll see that prices aren't that far removed from the all-time low at 70.805 (03/01/2008).
Keep an eye on this market. A lower U.S. Dollar is not out of the question. The real question is how low can it go before it runs into a floor? The next level of support on the Monthly chart is found at 74.65 (11/01/2007). Below that is the all-time low.
Ahh, we live in very interesting economical times indeed!
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT 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 PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Thank You!
October 14, 2009 7:43am
I want to thank each of you that attended last night's chat. I appreciate those of you that stuck around as we worked out a couple of bugs during the first 20 minutes or so of the audio/video portion. After we got that squared away I think it went really well.
Look for me to continue using that same software at during future chats.
While the bulk of the chat was performed using the audio/video software, I did answer serveral questions via the text based format. So if you were unable to join us last night you can still review the text version of the chat by visiting our chat archives by clicking here.
Quote of the Day
October 14, 2009 7:38am
God didn't have time to make a nobody, only a somebody.I believe that each of us has God-given talents within us waiting to be brought to fruition.
Mary Kay Ash
Quote of the Day
October 13, 2009 7:26am
Satisfaction does not come with achievement, but with effort. Full effort is full victory.
Mahatma Gandhi
Chat Tuesday Night, October 13
October 12, 2009 3:01pm
My Next Free Monthly Online Chat is Tuesday night, October 13 at 6:00 PM Pacific Time!
Stop on by and ask me your questions and receive tips and insight from both me and your fellow GBE Course Members! Learn how other students are using The Greatest Business on Earth!
I'll also be bringing back the online software that allows you to see my computer desktop and hear me answer questions. So please join me Tuesday night, October 13 at 6:00pm PT.
I know that I have the ability to achieve the object of my Definite Purpose in life, therefore, I demand of myself persistent, continuous action toward its attainment, and I here and now promise to render such action.
Napoleon Hill
Whodunit? Sneak Attack on U.S. Dollar
October 9, 2009 7:43am
Wow, a very, very interesting story about market manipulation. This story, from first glance, seems like it could make a great movie!
Check it out by visiting the politico.com web site. You'll find the complete story by clicking here.
Quote of the Day
October 9, 2009 7:38am
Don't limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.
Mary Kay Ash
Metals On Fire!
October 8, 2009 12:00pm
The Metals are on fire!
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT 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 PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
In a New York Minute
October 8, 2009 9:11am
I posted this video about a year ago here on my blog. I decided to post it again because it's such a great song about appreciating what you have.
Plus it's a song performed by one of the greatest bands ever. . . The Eagles!
Golden
October 8, 2009 8:36am
December Gold continues its advance this morning. As I write this post it's trading at 1047.60, +3.10. Over $50 higher since the release of the Golden Opportunity video(s) report!
Isn't it amazing all the many opportunities this business provides? All you have to do is keep an open mind, study (some call it work, LOL), and learn to trade what you see.
Of course, that's all easier said than done. But the opportunities are out there, we just have to find them and trade them!
Quote of the Day
October 8, 2009 8:30am
Always do your best. What you plant now, you will harvest later.
Og Mandino
Quote of the Day
October 7, 2009 7:56am
An investment in knowledge pays the best interest.
Benjamin Franklin
Goodies for You. . .
October 6, 2009 3:36pm
From time-to-time I like to post this reminder of some of the tools I've put together to help educate you and improve your trading business. If you aren't using these goodies to advance your trading business, I encourage you to do so.
4.) Follow me on Twitter. It's free and easy to sign up.
This list is just an inkling of the goodies I've put together for you. Of course, you can also check out the Premium Alert Service daily updates, Advanced Options weekly video newsletter, the weekly GBE email letter, and my monthly chats to name a few of the other tools available.
Gold is up nicely today! I just sent out an email to Gold subscribers about the setup that was triggered. Check your personal email box!
Quote of the Day
October 6, 2009 8:11am
Any fool can criticize, condemn, and complain -- and most fools do.
Dale Carnegie
Emini S&P 500
October 5, 2009 8:21am
The December emini S&P 500 is hovering just above support of a multi-month uptrend line. The recent two-week sell-off has prices currently trading at 1024 at the time of this writing.
Earnings season begins this week for the stock market, although overall the big company names will begin reporting their quarterly earnings next week. I find it interesting that the recent sell-off happens to come into play prior to earnings announcements. And that the sell-off puts prices right at/near major support of the uptrend line I've drawn on the chart.
Does this mean we'll see higher prices for the next week or two or three? We don't know for sure. But one I think this is an important price level and scenario that it warrants being watched.
Trend Seeker™ says the trend is currently neutral. So a bounce and a trend rating flip to up could trigger a possible entry. For now, keep watching.
NOTE: The information contained in Jim's blog is for educational purposes. Market conditions and commodity and option prices constantly change. Being a successful PAPER TRADER during one time period does not mean that you will make money when you actually invest during a later period. Past Results are not necessarily indicative of Future Results. Trading commodity futures or options involves substantial risk of loss. Your trading decisions should be based on your own particular financial circumstances and trading objectives.
Please read the following risk disclosure statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT 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 PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Quote of the Day
October 5, 2009 7:48am
All you need is the plan, the road map, and the courage to press on to your destination.
Earl Nightingale
Quote of the Day
October 2, 2009 7:54am
Every time you turn green with envy you are ripe for trouble.
Unknown
Grain Report Subscribers
October 1, 2009 8:52am
I just posted a write-up in the Grain Report blog about two potential opportunities that are on the verge of triggering.
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