Today's Ideas:
    for afternoon of Tues. Jan. 22, 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.

    New Update :

      As we type, AAPL has reported earnings and is down significantly. This highlights the danger of holding trades overnight, that are counter-trend. We made a long side trade in the NQ futures today, and took the 15.5 point profit. We'll look to make the same type of shorter term trades over the next few sessions, until the volatility is tempered. Speaking of the VIX, it spiked to levels we saw at the August market bottoms. We don't really care about the past, but it indicates a level where we will attempt the long side, as we did today. Try to be patient while others are "screaming and kicking" around you, so that you are able to act decisively on your signals. We will be looking to trade the following names: NQ (long), ZB futures (short), FXI (long), $CAD (long), and possibly long a few commodities also. This does not mean we get involved at the opening bell, or after huge moves, but that IF we get signals in these names, we are prepared to act.

    Please always use stops. They are critical to success, and especially in markets like we've had lately. Too many traders try to hide from the "pro's" by keeping mental stops. They do this so the pro's won't "run the stops" and take their position away before the trade starts to work. This is simply not the case. "Big" traders are doing their own thing, and have much better reasons for their actions than bringing a market down, just to get 100 shares! They have much better thought out plans than that, so enough said. Pre-determine stops, AND put them in. It's very therapeutic, and you can focus on when to add to winners.

    Let's observe the foreign markets to get a feel for tomorrow. As it stands, we'll be looking to trade stocks long at some point, and bonds short, possibly both. Since they are highly correlated (inversely) lately, we might just opt for one over the other. Good luck and stay level-headed. Lots of opportunity sits right around the corner if you have confidence and your accounts are in order!.

    Position update as of 4:52 pm:

    Long 2 units SB (Sugar avg. price .10701)

    For previous posts visit the archives.



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