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, June 5, 2008

    Non confirmation

    Yesterday saw the NDX up over 1%, the Russell 2000 up .5%, and the S&P500 unchanged. This type discrepancy is indicative of low opportunity trading, at least to me. Readers should take note that the one trade I did make was kept to a "small" position of only 1 unit. I need traction before I add to my initial trade, and that proved nonexistent. By being patient for my signals to enter and exit, I was able to keep the loss tiny and thus preserve capital for better risk/reward scenarios. Today (Thursday) doesn't look to be any more promising, so if any signals are taken, they'll also be exited today. Perhaps tomorrow's payroll data will shake things out of this funk. All in all, I'm trading well and executing my plan, so nothing needs to be changed on that front.

    The best thing a trader can do in these times is not force a situation. Be patient and sit tight, as things will change. Nobody knows which direction we go next, we can only put ourselves in the right position to capitalize. I learned a long time ago that there will be plenty of time/opportunity to get involved once the markets resolve this stalemate. I want to keep my my powder dry, and my mind focused on the possibilities. Things should clear up soon.

    There really isn't too much to comment on today, so I'll provide a few links to things that caught my eye. The one thing readers should do is check my entry and exit times and prices against a chart of the "action" yesterday (on the TWM and SRS trades) to follow my timing practices. Timing is what makes the trader, and it kept things manageable (profitable) yesterday.

    My first stop for business blogs

    Drake to Mish..."You got that right!"

    Sign of the times

    Confusion at LEH

    I attached a chart of the yen, as it has been a useful "tell" with it's almost perfect inverse relationship to US stocks, the past year especially. Even this chart shows no real direction, yet!


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