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 12, 2008

    New week is here

    Today seems to be a day to keep my powder dry. Yes, stocks have traded higher, but with the financials being the strongest groups, I won't participate. I'd rather stand aside and pick my spots to short again, as that is the side that's paying the rent lately. Also, I'm close to getting a short entry in Treasury bonds, and along with stocks, I feel the downside offers more potential. Be cautious of high correlation trades as we've discussed before, as I get many related signals at once. I decide which is best by taking the strongest signal at the time, and then forgetting about anything that might distract, like second guessing.

    I was able to cover half the EEM short near the lows of the day, and then re-shorted that same position later in the morning. Check the ticker, but it was a solid trade, within the context of my overall "short stocks" theme. I frequently take advantage of larger intraday moves by either adding, or booking some profit, while staying with the original idea.

    There's not too much to share, so I'll leave it at that. I truly feel we are getting close to some significant signals (longer term) again, and I look forward to putting some money in the bank!


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