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.

    Wednesday, April 23, 2008

    Morning update

    I'm here early today, so I thought I'd make an early morning post. Stock indexes continue to trade in a wide range and I'm hoping to capitalize on this pattern with the recent SDS (2x inverse S&P500) position. Again, I'm looking to add on any signal after 10 am. The main idea is that I'm shorting stocks on the signal for now. As I've said many times, it's not as important what we trade, as it is HOW we trade. It's possible that when I add to my short stock position, that it could be the SRS, EEV, or SKF etfs, all in the same context of the current SDS position. I typically take the first, or the strongest signal, so we'll see which presents first.

    Try to stay focused on the expected timeframe of each trade setup you get involved in. For example, since we are in a wide range, I'll expect to keep shorting (and stay short) for several days at least. We can't know exactly when we'll exit, but we can have a general idea. This Friday's Consumer Sentiment # could be a catalyst, or it could take longer, but that I have a plan is what's important. The goal is to minimize the number of decisions a trader must make while involved in a trade.

    Regarding commodities, I am aware that the $CRB could be "rolling over" in the near term. That is the reason I posted the chart. Readers can see that I am not shaken out of a trade before the stop out, regardless of conflicting information. I still might even get stopped out of the WEAT etf, but I remain with it until then. The only way the $CRB chart will affect me, is that since I already have some commodity exposure AND the $CRB might roll over, I will be cautious in entering NEW positions. I've learned the trade signal is stronger than the news, headlines, upgrades, etc. So, I'll continue to look for signals in Silver, add COTN, Coffee, and Sugar in the near future.


    For previous posts visit the archives.



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