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    Today's Ideas:
    for afternoon of Fri. Feb. 29, 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: 

    Chart

      Congratulations for those making money. At this stage in the SRS trade, we'll treat significant pullbacks as an opportunity to add. Should the etf continue to soar, instead of taking a break, we're already long the 4 units. In any case, we're in a position of strength.

    We also answered the question as to what indicators we use? At different times we use or ignore certain indicators. Same thing with news headlines. It's more important to manage your risk and game plan. For example, we know what we'll do on Monday if SRS pulls back, and what to do if it keeps rocking. That said, the only moving averages we use are the 200 and the 50, no matter what the time period of the chart. We do try to stay "in tune", and not fight the MA's, but sometimes take trades that are not in line. We also use, at times, the MACD, stochastics, Fibonacci's, and average true range. These are helpful, but not of ultimate importance. The indicators are only mildly reliable, but they do offer a "bigger pic", even if they are fuzzy. The point is that we don't rely on them more than proper money management and patience. Even news if hard to "price". We'll discuss this topic every trade the rest of our life!!!

    Regarding the health of the markets, we can say they are very, very weak. It appears that most of the "good news" that was left (lower rates next month, AMBAC bailout, etc, etc.) has been put behind us, and the markets can't hold a rally. Let's not look too deeply into this for our own trades, but longer term the financial markets are in dire straights. Let's hope the free world can pull it together, so we can all keep having fun doing what we love. Have a good weekend.

    Position update as of 3:58 pm:

    Long 4 units SRS (avg. price $103.969)

    Long 3 units SB (May contract avg. price .13119)

    Trading Accounts equity at new all time highs.

     

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