LS Trader Weekly Update

The past week was another good week for the LS Trader system as several markets continued their recent trends. We were not stopped out of any trades this week but did rollover the contracts on 7 markets.

All 7 of these rollovers banked profits for us which in total came to 4852.8 financial spread betting points (pips). As we closed no trades during the past week we are still in 23 trades and including rollovers are in profit on 21 of those 23 trades. We are now up 25.6% for 2009 in just under 2 months.

The percentage gain for 2009 is pretty amazing considering the volatility of the markets. The system is performing and is doing its job. You just have to be patient and to wait for the trends to occur and when they do, we really make fantastic profit (as this week as shown).

This week there is 4 new trades for the LS Trader subscribers.

If you are not a member of LS Trader, you can still join us, and start making these phenomenal profits today. To join the LS Trader system, click on the link below:

http://www.lstrader.co.uk/signup.php

Please note that this is a free weekly publication for members and newsletter readers, and to access the full weekly trades and login to the member’s area you will need to sign up.

The LS Trader Financial Spread Betting Weekly Update

Stocks

From last week “Watch 875 up and 800 down for the S&P 500. A break of either level should lead to movement in the direction of the breakout”. We did not have to wait long for the S&P 500 to break out through support as it finally happened on Tuesday. The support line at 800 had held since November last year.

As expected, once support failed the market fell sharply with the March contract hitting 752.7, just shy of the 752 level that I have been talking about over the last few weeks. The market then rallied from this low before closing at 769. The new range is now 800 up and 752 down. As before, either level could give rise to movement.

This 752 level is important as it is not only the low set in 2008, but is also an 11 year low. If that level fails to hold then we could see a further collapse, with the other stock markets likely to follow suit.

Wall Street closed at its lowest level since 2002 and at one stage last week was at its lowest since 1997. The FTSE was also down, after failing to find support at the much talked about level of 4000. The FTSE has perhaps been the most resilient of the major stock indices but may now fall to 3680, especially if 4000 changes from providing support to providing resistance.

The trend is very much down for stocks and this is a huge bear market at present. The biggest rallies often come in bear markets and these rallies are always a possibility as we often see that largest upmoves in bear markets. These will not affect the long term trend, which is likely to stay down for most if not all of 2009.

Commodities

From last week’s commentary $950 level remains the key and if it can be taken out then the scenario for gold looks bullish”. Gold was ahead for most of the week and hit our intermediate target of $1000 on Friday. This was perhaps earlier than I expected and the market was unable to stay over this key psychological area, leaving gold susceptible to a pull back to around $950. If this does happen then we should see support at $950. Further out, we set our sights on a test of all time highs set back in March last year of $1033.9

Crude Oil advanced for the week, with the April contract closing right on the $40 level. The reaction at this level on Monday may set the pace for next week’s trading.

Currencies

From last week “We still look on track for a test of 8800 which will determine direction over the next few weeks”. The Dollar index cleared 8800 and hit a high of 8857 before pulling back to close at 8670. The fact that the market was unable to stay above 8800 implies short term weakness ahead but the trend remains up.

Interest rate futures

The long term trend remains up for interest rate futures but at the moment these markets are going sideways. We are currently out of these markets and are waiting for a new trend to develop before taking any positions.

Good luck in your trading

Kind Regards

Robert Stewart

The LS Trader Team