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.

    Thursday, April 24, 2008

    Morning update

    It would be nice to see stocks pick a direction (down?). I remain short via the SDS etf, and will continue to add at each signal. Earnings last night, along with a few pieces of economic news today and tomorrow, could be a catalyst. The same theme is in play, shorting "paper" and long commodities. For today, shorting stocks seems to be the higher probability trade, so that'll be my focus.

    When charting, I always assume support and resistance will hold, until proven otherwise. However, they are just general areas, rather than specific price points, so I follow use them "loosely". For example, where is upside resistance in the S&P500? It depends on who we ask, but answers might be 1390, 1400, etc. For my purposes, it's the range from 1390-1400, giving lots of "wiggle room".

    Today and tomorrow will be critical in determining the next strong move for stocks. I'm prepared to make the best of a move down, while limiting risk if I'm early.

    I'm still on alert for a signal to short Treasury bonds, buy JPY (yen), and get long Cotton, Sugar, Coffee, Natural Gas, and possibly Silver. Today, my focus is primarily on shorting stocks. I feel this trade might be more timely than the commodity setups.


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