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    Today's Ideas:
    for afternoon of Fri. April 4, 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

      Today is proving to not be too active. We saw the indexes work higher all week, and we've been fortunate to watch from the sidelines until this afternoon. SRS signaled a long entry and we took the trade. Because of the "soft" action today, we placed a bid beneath the market price and were filled on only 1/3 of a full unit. Although we think we'll see some decent movement next week, today's action didn't warrant adding to the position. In fact, we exited approximately 2 hours later with a .91% profit or .79/share profit. We still like the trade, but won't fight uphill. We'll look to take the same trade, but with full units, early next week.

    About the best thing that can be said about the past week is that we avoided getting involved too early. Patience has kept our accounts intact, and we should see some decent gains in the near future. Our list of shorts are IYR, EEM, and XLF, while we are still looking for "safe" entries to get long commodities. The big picture has not changed, even if we are in a wide range for the next few months. These ranges can provide great trading setups for the disciplined trader. Let's rest up for next week, as the volatile moves we expected this week will materialize soon.

    We continue to keep an eye on some of the bigger themes such as the JPY (long the JPY) and the market for Treasuries potentially rolling over. These are longer term trade setups, but also offer the biggest returns for patient traders. We'll let the world know when we take the trades!

    Position update as of 3:22 pm:

    Bought 1/3 unit SRS at $86.37, sold at $87.16

    Long 1 unit WEAT etf on the LSE ($4.8450)

    Long 1.25 units Coffee etf on the LSE ($3.26)

    Long 1/2 unit Cotton etf on the LSE ($2.64)

    Trading Accounts equity < 4.6% from all time highs

     

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