Today's Ideas:
    for afternoon of Fri. Mar. 7, 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: 


      The past couple days have come close to giving trade signals, but we have not had a trigger. The names we scoped today will be on the list next week too, including commodities long, FXI long, SRS long (or IYR short), and SKF long. Although we would not consider buying financials, much less hold them over the weekend, they might catch a bounce next week. If XLF bounces, it will lead the market indexes higher. Our readers know we are not wild about the "long stocks" ideas, but a signal is a signal. In any case, the fact that financials could get a short term bounce should temper our "fundamental bearishness". If stocks go higher out of the gate next week, we can look to get involved at some point in the SRS, SKF, or TWM ideas (short stocks). Either way, the risk/reward setup is more favorable early next week. There are plenty of good ideas, and we're just biding our time until we get some confluence between indicators and indexes.

    A few readers asked if we might panic or sell our commodity long(s). The answer is a flat out "NO". As we've said before, the only question is when to enter/add, and how much. Of course, we always use stops, but that is just risk control. If we wouldn't even think of shorting commodities at any point in last 6 months, then shouldn't we be aching to go long? Yes, if we get a trade entry signal. We're looking specifically at Palladium, Cotton, Coffee, Natural Gas, Sugar, and Soybeans to get long. Even though we love the trades (long side), be sure to ALWAYS use proper risk management! We don't buy 10x as much Sugar just because it "worked in the past". Stick with your system and that applies to position sizing too. Readers with less commodity experience might want to look at the etf's DBA, and JJG.

    Next week looks very promising for trading opportunities, and what's more, we don't even know which direction. That's why we haven't added new positions today. Both sides, long and short stocks, have lots of potential trade signals. Something will present and we're ready to take advantage. Read up on commodities this weekend, but understand the charts are telling us all that we need to know. Whatever the reason, and there may be many, the "surprises" are on the upside.

    Position update as of 4:04 pm:

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

    Trading Accounts equity < 3.2% from all time highs.


    For previous posts visit the archives.



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