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    Today's Ideas:
    for afternoon of Fri. Jan. 4, 2008

    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.

    Position update as of 3:36 pm:

    Long 4 units SB (Sugar avg. price .10701)

    NOTES:

       We've been very fortunate (disciplined) lately, and it's saved us from drawing down accounts. Today, we again mentioned that "bottom picking" can be very detrimental to your wallet and psyche. It's unnerving to watch slaughters like today, even when we're not getting skinned. It also clouds judgment when you are too heavy, too early. For example, if long, should a trader take his positions over the weekend? We think that what happens on Monday morning (bounce or not) is not the issue. The bigger picture is that the potential reward is not good enough to justify the possible drawdown. Therefore, it's best to exit and live to trade another day when your stars are in alignment!

    Fortunately, this is not a decision us or our readers will need to make...we're sitting tight for now.

    Sugar remains strong, and is a candidate to add. Check back to see how we handle this winner.

    On a fundamental note, the dividends of the "big boys" like Citigroup have yet to be cut. There most certainly is another shoe, or two, or three to drop in the next several months. Long stock trades will need to be shorter term, with the "buy and hold" mentality causing great pain. Keep yourself in a position of strength. We are very ready to strike, and only on our terms. Remember to buy direction, not price!

    One reason we did not get long FXI (China), is the spillover effect. Our guess is the Asian markets will be very weak when they open Sunday evening (NY time). Again, we'll have plenty of time to play the long side if we get strong signals. If we should miss a long trade setup, then we are able to confidently get on the short side at better prices. Here is one potential long candidate we'll buy next week, but not yet:  China ETF

    Our track record is commendable so far, and we wish to keep it that way. Don't step in front of trains because you think a price is acceptable or fair. Buy because the direction is favorable to your own. Have a great weekend and rest up. It promises to be a busy week, starting Sunday evening.

    And this article, which some might find comforting. We think otherwise, and this piece ought to be interpreted as another desperate move by Washington:   "Valuation"

       Same with this piece of work...    "Emergency!"

    We encourage any questions and comments on how to improve our site, and hope you find it useful.  This is a great business, but the learning curve can really take awhile as most successful traders don't have any reason to share ideas.  This site is our way of giving back to the trading arenas, in the name of the few mentors we found that helped us along the way.  Good luck.

    We don't always have the time to explain the reasoning for trades, but they are often a combination of technical, fundamental, and "gut feel".  Pay attention, have fun, and make money!

    For previous posts visit the archives.

     

     

    This site is for instructional purposes only, and is not to be construed as investment advice.

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