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.
Course Counselor Sandi is going to have surgery on Thursday at approximately 11:00am PT. Your prayers and good thoughts for a successful surgery and outcome would be much appreciated.
Sandi is a long-time, integral part of our GBE team and mother of two. I know that Sandi, her family, and your GBE team would greatly appreciate the thoughts and prayers.
Quote of the Day
September 30, 2009 12:06pm
Genius is one percent inspiration and ninety-nine percent perspiration.
Thomas A. Edison
Today's Premium Alert Service
September 29, 2009 5:25pm
Folks, I've been trying to upload the .swf file for the Premium Alert Service (PAS) since 12:00pm -- 3 hours and twenty minutes! It's rediculous that a 6 meg file can't upload. But Hughesnet (and their famous) satellite continues to time out. I will try again in an hour or so, but I don't see much changing.
I've had this satellite service for my home internet for almost six years, frankly I'm so fed up with the lack of service that I would gladly ditch it for anything else that would work above dial-up speeds.
For now, know that you can watch the .wmv file of today's PAS. I was lucky to upload it after mulitple attempts.
Goes for Trading Too. . .
September 29, 2009 12:36pm
A young man was promoted as a bank president at the young age of thirty-two. It was far beyond his wildest dreams and very frightening, so he approached the old chairman of the board for advice on how to be a good bank president. "What is the most important thing for me to do as president?" he asked. "Make right decisions," said the chairman. "How do I make right decisions?" asked the young president. "Experience" replied the chairman. Exasperated, the young president said, "But how do I get experience?" "Wrong decisions," said the chairman.
Flu Bug
September 29, 2009 12:14pm
Well folks I caught the flu bug last Friday and have spent the last three days in bed. I'm feeling a little better right now (knock on wood). Hopefully I'm on the mend and can get back to focusing on the markets rather than this bug.
Drinking lots of fluids and getting lots of rest.
Quote fo the Day
September 29, 2009 12:10pm
Live each day as if it were your last, and you'll develop a keen respect for opportunity.
Napoleon Hill
Quote of the Day
September 28, 2009 12:41pm
All our dreams can come true, if we have the courage to pursue them.
Walt Disney
Quote of the Day
September 25, 2009 7:38am
You may delay, but time will not.
Benjamin Franklin
December 2009 British Pound
September 24, 2009 4:17pm
The December 2009 British Pound had a tremendous sell-off today. Prices closed -365 points and closed just above the bottom of its channel.
Since Trend Seeker™ says the trend is down, a close below the bottom of the channel will trigger an entry to the downside.
That said, be aware of the potential roadblock produced by support of the Daily 50% level at 1.5876. If this level is overcome we could see this market make a move to an initial target of support at 1.5500 (the green dashed line on the chart).
If an entry is triggered initial stops can be placed above recent resistance levels or a dollar amount can be used. Ultimately the amount of risk you take on should be based on your personal risk tolerance.
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
September 24, 2009 9:01am
Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more.
Tony Robbins
A Golden Opportunity
September 23, 2009 9:30am
Be sure to check your personal email (not your GBE mailbox) for a special announcement about a golden opportunity that has set up! What I've put together is something that will make you say. . . "Wow! Why didn't I think of that?"
Or, once you log into US Charts Online, you can also click the graphic like the one below.
But you have to log into the site and click the (same) graphic that is located on the home page.
If you'd like more information, be sure to call a Course Counselor at 541-955-2885 Monday through Friday between 8:30am and 5:00pm PT.
Advanced Option Strategies For Any Market Condition™
September 23, 2009 9:17am
Advanced Option Strategies For Any Market Condition™
The techniques I reveal in this nearly 3 hours of video aren't difficult to understand, the only thing that is perplexing about them is that most traders aren't aware of them!
That's about to change!
Within these two DVDs I provide six different "advanced" option strategies that you can use to put the odds in your favor. I explain each strategy for you in detail so that you can to learn and apply them to your own trading right away.
It's all revealed in my comprehensive two-disc DVD set, Advanced Option Strategies for Any Market Condition™, the sixth installment in my Master the Chart Series.
Just a reminder that the Federal Open Market Committee, better known as the FOMC, will announce its policy statement on today at 11:15am PT. The focus of the announcement will be whether or not they'll raise or cut interest rates.
Be aware that this is a day when, regardless of the actual meeting language, the announcement usually brings a lot of volatility to the markets.
The markets most affected are the stock indices, metals, financials, currencies and to some degree the energies.
Keep in mind that I mention this strictly because of the volatility. I'm not saying the announcement means you should begin trading the markets listed above. Rather I'm pointing out something that tends to move the markets and this could be a plus or a minus if you're already holding positions in these markets.
As always, the bottom line is protect your positions!
Quote of the Day
September 23, 2009 7:45am
Opportunity never sneaks up on those who straddle the fence of indecision.
Napoleon Hill
Ten Big Companies That Are Veering Toward Bankruptcy
September 22, 2009 4:02pm
That's the headline of an interesting article I found on Yahoo. Click here to read more.
US Dollar Index
September 22, 2009 1:07pm
The December 2009 US Dollar Index triggered an entry to the downside today based on the MET.
If you didn't catch the break down this morning, keep an eye out for a possible Hi Lo trigger as it's on the verge of happening as well. (For more information on both of these techniques be sure to refer to the Training Videos I've produce at US Charts Online).
The initial downside target based on the Wave Projection Method is 73.01.
Consider trailing stops above resistance or use a dollar amount you are comfortable risking.
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
September 22, 2009 11:45am
Man has two great spiritual needs. One is for forgiveness. The other is for goodness.
Billy Graham
Retracement in Metals
September 21, 2009 9:24am
I think today's retracement in the Metals may ultimately offer a nice trading opportunity.
The retracements act as though these markets want to pull back to support levels. If this happens, we may be provided entry opportunities then.
For now, we'll keep watching.
Quote of the Day
September 21, 2009 7:45am
You make mistakes. Mistakes don't make you.
Maxwell Maltz
Awesome Beginning to My Sporting Weekend
September 19, 2009 6:42pm
I grew up a University of Washington Huskies sports fan and it's carried over all these years.
From Rose Bowl titles, a football national championship, the NCAA basketball March Madness tourney. I've been very blessed as a sports fan to be part of a lot of really, really cool stuff.
Anyway, for those of you that are college football fans you might appreciate this. . . I can still remember it, I was in 8th grade and my Uncle Pete invited me to go with him to watch our Huskies play the University of Southern California (USC) at Husky Stadium. I remember that he had season tickets that were on about the 40 yard line half way up the first level. I may be off a bit in the actual seat placement, but I do remember they were great seats!
Anyway, this was the era of USC tailback Anthony Davis! Wow, I was in heaven! Loved the game, loved the experience!
Anyway, the UW football program has had a very rough time of it the last several years. In fact, last year they went 0-12. First time in school history without a win. A very sad time for us fans.
Today, behind the leadership of new coach Steve Sarkisian (a former offensive coach for USC) my Huskies defeated the #3 ranked USC Trojans in Husky stadium, by a field goal with 0:03 left, by a score of 16-13 -- a HUGE upset win!
It was a beatuiful thing!
My Dawgs are now 2-1 on the young college football season. Anyway, it was a great game for all Dawg fans!
Mixed Martial Arts
Tonight at 6:00pm PT on SPIKE TV the UFC will air two preliminary fights of tonight's Pay Per View card for free! So I'll be parked in front of my TV for both of those fights.
Then at 7:00pm PT I'll flip over to the PPV broadcast and watch that as well.
I'm looking forward to another great night of fights.
And of course Sunday we have the second week of the NFL season in full swing. I'm looking forward to that as well.
To top it off we also have a wild card race in Major League Baseball as the San Francisco Giants battle for that last playoff spot with the Colorado Rockies in the National League and the Detroit Tigers try to hold of the Minnesota Twins in the American League Central race.
As I said in my headline, it's an awesome sporting weekend!
Quote of the Day
September 18, 2009 8:11am
As you simplify your life, the laws of the universe will be simpler; solitude will not be solitude, poverty will not be poverty, nor weakness weakness.
Henry David Thoreau
Special Announcement
September 17, 2009 5:26pm
Be sure to check your personal email (not your GBE mailbox) for a special announcement on a breaking market opportunity! What I've put together is something that will make you say. . . "Wow! Why didn't I think of that?"
I'm not going to say any more about this opportunity here quite yet. So if you'd like more information be sure to call a Course Counselor at 541-955-2885 Monday through Friday between 8:30am and 5:00pm PT.
Quote of the Day
September 17, 2009 10:56am
If you are patient in one moment of anger, you will escape a hundred days of sorrow.
Ancient Chinese Proverb
Keep An Eye Out. . .
September 16, 2009 10:17pm
Keep a close eye on your mailbox tomorrow as I'll be releasing information about Something Huge That Is Developing in the markets right now.
The potential that this opportunity has to offer is very exciting and is frankly in the infancy stages of developing right now!
I've literally rushed to put this information together -- spending the last 7 days with my nose to the grindstone preparing this program for you.
Just part of what you'll learn includes:
A complete explanation of the special situation that's developing today
Four separate methods you can use to trade this opportunity, ensuring that you can design your perfect trading program – one that fits your budget and trading style – and prepare yourself to take advantage of this unique market situation
A wide variety of formations you can use to enter and exit these markets using the methods I teach
A step-by-step guide to carrying out each of the trading methods using the incomparable tools on US Charts Online
I think you'll be blown away by what you'll learn, as they say the "proof is in the pudding!"
Chat Tonight with Daniels Trading Brokers
September 16, 2009 6:19pm
Chat tonight 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!
Also joining me tonight are Ken Packard and Don Debartolo. Both Ken and Don are brokers at Daniels Trading. So be sure to stop on by and ask any question you might have about brokers.
So please join me tonight, Wednesday, September 16 at 6:00pm PT.
All our dreams can come true, if we have the courage to pursue them.
Walt Disney
Quote of the Day
September 15, 2009 10:22am
He who is not courageous enough to take risks will accomplish nothing in life.
Muhammad Ali
Quote of the Day
September 14, 2009 10:33pm
Every adversity, every failure, every heartache carries with it the seed on an equal or greater benefit.
Napoleon Hill
Chat Wednesday, September 16 with Brokers!
September 11, 2009 1:25pm
Remember this coming Wednesday, September 16 at 6:00pm is my next monthly Internet chat. This month we'll have two brokers from Daniels Trading joining us. Please stop on by and ask any question you like. The chats are always fun and educational, plus you can learn from the adventures of your fellow Course Members! Click here to join me Wednesday night, September 16 at 6:00pm PT.
Metals Moving
September 11, 2009 9:58am
The Metals are moving nicely today!
Quote of the Day
September 11, 2009 7:36am
A man of courage is also full of faith.
Marcus Tullius Cicero
September 11, 2001
September 10, 2009 10:37pm
On Friday, September 11 the CME Group will observe the eighth anniversary of the terrible and tragic events of September 11, 2001.
The NYMEX/COMEX markets on the CME Globex will observe voluntary moments of silence at 07:46 CT, 08:03 CT, 08:59 CT, and again at 09:29 CT.
All other CME Globex markets will observe a voluntary moment of silence at 07:18 CT.
Quote of the Day
September 10, 2009 9:38am
Live out of your imagination, not your history.
Stephen Covey
Quote of the Day
September 9, 2009 8:16am
If we did all the things we are capable of, we would literally astound ourselves.
Thomas A. Edison
Dollar Down
September 8, 2009 10:01am
The December U.S. Dollar Index is down big this morning. Currnent price action has pushed prices below the bottom of the channel that's been in place since mid-July.
Since Trend Seeker™ says the trend is down, a close below the bottom of the channel will trigger an entry to the downside.
If an entry is filled, the initial downside target is support at 75.02 per the Weekly chart.
Initial stops can be trailed above recent resistance. Actual placement will depend on your individual risk tolerance.
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.
Markets are Moving!
September 8, 2009 9:50am
Markets are moving!
Quote of the Day
September 8, 2009 9:48am
Self-image sets the boundaries of individual accomplishment.
Maxwell Maltz
Beautiful Sunset
September 4, 2009 7:56am
Here are a couple of pictures I took with my phone last night as the sun was setting (not a bad couple of pictures for a cell phone). Anyway, I thought the pictures turned out well enough to warrant a post here.
Quote of the Day
September 4, 2009 7:54am
I have not failed. I've just found 10,000 ways that won't work.
Thomas A. Edison
December Gold Trigger!
September 3, 2009 10:18am
Yesterday, September 2, December Gold closed above the upper trend line of its pennant formation. After the close we simply needed to wait and see if Trend Seeker's™ Trend Rating would flip from a neutral trend to an up trend once updated -- this is exactly what happened.
Since our trade criteria was met, this set up a possible entry for today's trading session.
December Gold traded as low as 976.10, which provided a nice entry opportunity for either futures or options.
The initial upside target is the February 20 high at 1015. Keep your stops!
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
September 3, 2009 7:38am
Pursuing your passion is fulfilling and leads to financial freedom.
Robert G. Allen
Quote of the Day
September 2, 2009 9:40am
Defeat is not the worst of failures. Not to have tried is the true failure.
George Edward Woodberry
Premium Alert for Tuesday, Sept. 1
September 1, 2009 5:10pm
Folks I'm having technical difficulties uploading the .wmv file for today's Premium Alert Service video.
I'm at home and my satellite is failing me. The folks at Hughesnet are of NO help. And I mean NO help. Funny thing is I seem to battle this stuff every summer after 12:00noon PST til........ whenever.
Anyway, this is incredibly frustrating. Believe me when I say I want the file to upload. This is the last thing I want to be doing. . .
Anyway, you can watch the .swf file. It luckily was uploaded.
I'm not sure when the .wmv will be up. As it stands, I'm lucky to be posting this message as bad as my connection is currently.
It's About to Happen
September 1, 2009 12:22pm
I just sent out a It's About to Happen™ about Live Cattle. Be sure to check your email program or your GBE Members Mailbox at: www.gbemembers.com.
Quote of the Day
September 1, 2009 12:18pm
A person who never made a mistake never tried anything new.
