Today's Ideas:
    for afternoon of Thurs. Mar. 6, 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 1:28 pm, we haven't had any trade signals. We wait patiently for better risk/reward setups in the near future. We were prepared and got close to a buy in FWLT and AAPL, but they didn't trigger. Today is a better day to "keep your powder dry", than try to shoot everything that moves. Although we might make money on a hunch, we remind ourselves that a good entry is only part of the equation. If we get involved, how much conviction can we have with the position, when we thought it was a marginal setup to begin with? This type situation makes it difficult to get substantial winners, and so is better left untouched.

    As far as what we expect next, we see the chart above with the financials (XLF). We would NOT trade them from the long side, but if they can turn up, we'll get some long side trade setups in our names. That looks possible, even though we do not like "paper" as stock indexes are in downtrends.

    Commodities are getting beat back, finally. When asked if we get shaken, the only response is that we don't like to lose money. However, this step back is welcome, as we will get an opportunity to get on board one of the cleanest moves we can see. Once the commodities turn sideways to lower for real, they could take a year or more to start upwards again. That is the worst case scenario, with the best being a slight consolidation and the resumption of the move once we are on board. To sum up, we have stops in place for the sugar trade, and we wouldn't flinch (sell) at these pullbacks. The stop is in place if we're wrong, but until then we are correct. A trader must see the big picture and realize we've been in and out of this position a few times the last year, with great results. This perception allows us to stay strong in the face of declines like today's. The direction for commodities is up, the question is when to enter?

    Good luck and be patient for the setups that will present over then next week or so. If you're not involved today, you're not missing anything in our opinion.

    Position update as of 1:53 pm:

    Bought 1 unit FWLT at $65.44, sold 1 unit FWLT at $65.58

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

    Trading Accounts equity < 2.5% from all time highs.


    For previous posts visit the archives.



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