Today's Ideas:
    for afternoon of Fri. Feb. 8, 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:

       We just missed an GOOG entry with a limit order, and since today we felt would be sloppy, have not re-entered the order. We have revised our entry price for this trade, an will be patient. We will want to be long GOOG at some point today or early next week. Do not chase, especially on a Friday afternoon!

    Aggressive accumulation of commodities today, especially in the agriculture group. Sugar futures are up well over 6% as we type, and we remain long, as we are not getting any sell signal triggered today. We are also not likely to get an "add" signal, either. Basically, this position is on cruise control for now. We discussed the importance of NOT shorting any commodities. Today is a prime example of how the only trade to be taken, if any, is on the long side. Shorting into strong trends can get you stuck in a terrible position. Traders that tried to pick a turn down in Wheat, can only sit and wait in pain, as the futures are locked limit against them. As Paul Tudor Jones says, "try to make life the pursuit of pleasure", and resist putting yourself in a similar situation. There is simply no good reason to short any commodity we trade.

    Let's use the rest of this day to reflect on what we did correctly this week, and where we could have improved. We'll look for a GOOG entry, but it's possible we don't get the risk/reward setup today. If that's the case, we'll hope for entry early next week. Remember that the actual names/vehicles you trade are not nearly as important as the fact you execute the trade, everything is correlated.

    Position update as of 2:46 pm:

    Long 3 units SB (Sugar avg. price .11008)

    Trading Accounts equity at ALL TIME HIGHS!

    For previous posts visit the archives.



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