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, May 5, 2008

    Morning update

    Finally, the time for action has arrived. Very late Friday afternoon I started to step into my "short stock" trade, via long positions in the SRS and SKF etfs. This trade was taken in spite of stocks being up 4 of the last 5 weeks. Today is a potential catalyst after the 10am ISM non- manufacturing #, and if these positions are showing a profit, I will be adding at each signal. In times like this, it's best to watch the ticker for trade entries/exits, as I focus on proper execution, more than musings for the website. Congratulations for those that had the patience to wait for this week, that was an important half of the battle, and now it's time to convert that patience into profits! I've got a full plate this week (lots of signals), so forgive the posts, as I'm a trader and not a writer.

    Focus on proper execution of your plan this week. Almost anybody can look at a chart and see support, resistance, trend lines, etc. Yet, very few traders actually make money, and even less earn it consistently. Why is this? It's because reading charts is not the difficult part, staying disciplined with a plan that works is what really matters. It is critical to add to winners at some point. I will monitor these positions and look for signals to get heavier, should they be profitable. One cannot consider themselves a professional trader and not know when or how to get "heavy". Conversely, if these positions show an unrealized loss, I will monitor and use my stops, thus losing on a much smaller size position. These are the keys to trading, not identifying "resistance", or analyzing government "statistics". All of these things are just a tiny part of the decision. Don't confuse an analyst/economist, with a professional trader. Focus on what really matters, and you'll be on your way!
    This should be a very important week. The FED meeting, and subsequent TAF announcements (manipulation) are behind us now. Markets should be trading on their own this week, without all the distractions. I'm keeping an eye on the 30 treasury bond (to short), but that's at least several days away. For now, shorting stocks is my primary focus.
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