TRADING ROOM CANCELED FOR TODAY

Hello

Unfortunately I have to cancel the scheduled 5:00 am today.  My trading platforms are going down constantly the last 2 hours and I'm not feeling confident that all will be in order for me to teach.  I have several platforms that I use for teaching.  Somehow 2 of them have disappeared from my computer and the 2 that I still have are mysteriously missing all of my trendwalker indicators.  Did you hear what I said?  I said that my Trendwalker indicators ( and only the Trendwalker indicators ) have disappeared with surgical precision. My world has become surreal...If I could tell you...Naa, never mind.

So, I have to go to my backups and reinstall all of the indicators.  This happened on Sunday and now again today.  Obviously I won't be finished in time for the trading room in a couple of hours. If I can get things going correctly I will post to the blog and try to get you in on some action with me sometime today.

As far as trading is concerned, today is a day that we have to be very careful of news announcements. If you go to http://www.forexfactory.com  you will notice a boatload of high impact new scheduled for today.  That means operators will be in full control today because markets move on news.  Today they have the deck stacked for heavy volatility.  While this means potentially large and quick moves, it also means that the moves can be pinballed against each other causing whipsaws to retail traders. Wait at least 30 minutes after the u.s. Unemployment claims before you make a move today.  And if you have already made a move, you either want to be out when the news comes out or sitting in front of your computer to monitor your positions with a hair trigger.

As usual, I'm not saying my projection has to occur but 20 years of experience tells me that when the news is stacked with high impact news, and some of that news means talking heads, like

Fed Chairman Bernanke Speaks at 1:00 pm just in case too many retailers catch the potentially big moves from the new, old Ben can be there to say just the right thing to cause a quick reversal and well, I smell retail ass burning... Now I'm not telling you to be afraid cause fear is the mind killer. I'm saying, Be quick or be dead...

Pay attention to your mfi indicator and notice that the markets that had no retail participation did not move at all during the Asian session and, any that did got reversed as usual.  

Stay on track, Majic's got your back...

Cheers, and one love, Jerry

jerry@forextradingmajic.com

jerryjstew@yahoo.com