Today's Ideas:

    IMPORTANT : Below is what we're looking at currently, but pay attention to our UPDATES on the side of each page for actual entry/exit times and prices. Refresh pages often! You will witness our winners AND losers; something that is rare in our business.    TO VERIFY ACTUAL PRICES AND TIMES, PLEASE CLICK ON  A TICKER ENTRY TO THE RIGHT.  ALL TRADES, WHEN THEY OCCURED, ARE VIEWABLE.  Whenever possible, we have included the ETF symbol for those who are not experienced trading futures, etc.

    Monday, April 21, 2008

    Afternoon update

    So far today the action has been uninspiring. Our preferred vehicles have yet to signal, so our only trade is the SDS etf long (2x inverse S&P500). I'm keeping a tight leash on this trade, as we're not getting confirmation from other arenas. Oddly, most commodities are lower, even in the face of a weaker US dollar. For now, stocks are content to meander, and profit objectives are smaller along with the tightened stops.

    My stop on the WEAT etf is close, but we'll have to wait until tomorrow to see if it triggers, as the London Stock Exchange is now closed. The Wheat futures position remains intact, and has a lower stop level. Sugar and Cotton are close to flashing a buy (next couple days?), so I'll be sure to let readers know of my actions as they occur.

    People ask if I'm a trend trader, and my answer seems vague, so let me clarify. I only trade in the direction of the long term moving averages, regardless of the instrument. However, unlike a trend trader, I am not involved at all times. I pick spots to enter and exit, where I feel I could benefit from maximum velocity in my direction, as well as have less risk if the trade doesn't work. I truly feel too many traders gravitate towards picking bottoms, such as in the financials lately. The media keeps inquiring when and where the bottom is in this industry. My only sentiment is that nobody can tell until it's way behind us, so why not take higher percentage trades? If the indexes weaken significantly, the worst of the worst is sure to go down along with everything else. If the indexes rally, I'm likely to be hurt a lot less if I'm short the dregs of the market.


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