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.

    Tuesday, May 27, 2008

    Consumer Confidence

    I mentioned this catalyst last week, and was able to get the signal to be long stocks today. This was a day trade setup, only, and I am now flat again. I commented on the ticker how it's hard for a trader to take a signal that is contrary to what he "feels". Readers know I've been trading the short side of stocks, preparing for a more substantial decline. However, a long signal was triggered and I was able to capitalize. We must learn to trade either side, regardless of opinion! Whether this up move continues or not, I operate by taking the signal in/signal out. Each trade has it's own expected timeframe. So, the money is banked, and I'm looking for my next setup.

    Readers will notice I had 4 units today of QLD, which is maxed out. It's important to point out my overall risk on the portfolios was not much different, even though my size was much larger. I focus on total risk to the portfolio, and then figure out the appropriate size while considering volatility of the specific instrument.

    We've got some significant catalysts around this time of the month, and I look forward to the ISM on June 2. I'll discuss how I trade around these economic releases, and what I try to avoid, over the next few days. My 6-10 week trade setup is still intact, calling for lower stock prices. My plan for tomorrow is to zero in on my specific vehicles for shorting, along with good entry areas. I might even start to commit some capital, and if I do, you'll see it in the ticker. All in all, I gave a solid performance today, due to flexibility in trading both sides.

    I'll have more to say tomorrow morning, so check back!



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