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, May 8, 2008

    Morning update

    I try not to get too concerned with labeling markets. Whether stocks are in a bull or bear market, be assured there are plenty of opportunities on both sides. We currently seem to be in a wide range, as mentioned before, and I plan to take advantage when stocks are stretched on the upside, by entering short positions. Today's plan is part of the same trade setup of the last few days, so I'll focus on the EEM short and the SKF long (financials short). Should the selloff continue, I already have positions that will profit, and if instead the market rallies, I have my plan to add to shorts. Having a definite plan allows the trader to play from a position of strength, where he or she is in control of as many factors as possible. Price action is uncertain, but decisions should not be.

    Commodities are edging higher again, and we'll see what I can get out of them. I am not entirely impressed with this trade, as I feel they have had ample opportunity to "kick in", but just gently drift higher. I'm staying with positions as is, but not looking to add for now. In major bull or bear markets, we'll get many, many trade setups in the same direction. Oil happens to be the focus these days, and who knows what tomorrow's leader will be. All the trader can do is be honest with himself, take what the market gives, and move on to the next idea.


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