MARKET UPDATE 1

Hello

Click the link to see closed trade list for this week.  CLOSED TRADES WED APRIL 13 2011

The real action for today will start around 8:30 am est.  U.S. payroll data is scheduled to be released.  The kicker is that there is a G-7 conference that begins today.

The G-7 is the group of 7 most influential economies in the world.  They get together to decide which way they will take the markets and who's currency needs to go up or down to balance out the world currencies over all.

 This is when fat cats really have a field day with retail traders.  Of course the insiders know what's going to happen because they make the policy.  Someone always knows.  See the classic Eddie Murphy movie, "Trading Places", and you will get an idea how it works for real.

Employment and trade data are the two most market moving reports besides the big one, which is interest rate reports.  Combine the U.S. data with G-7 and we could be in for a wild ride. There are plenty of false setups during these meeting so be smart.  Control your emotions.

I will continue to call trades on twitter even though I am loathe to do so during these times because I hate uncertainty in the markets.  Uncertainty means the professionals have their way with two way moves to take out stops and just stampede the herd one way and then surprise with a big fast move against retailers before they have time to react.  

I will probably wait until after the data is announced before I make any moves but don't hold me to that.  If I see a setup to good to overlook I may just make the call.

I know that some of you signed up for the trade alerts over the last week and I have not been able to get you situated yet due to the nasty computer virus I was telling you about last week. Also, remember that I make trade calls through Twitter.  If you want the trade alerts and I send you a Twitter invite you should answer if you want trade alerts.

CHEERS, JERRY