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    Today's Ideas:
    for evening of Wed. Dec. 5, 2007

    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 5:40pm:

    We are short 1 units ZB (T Bonds avg. price 117 31/32)

    We are long 2 units FXC ($Canadian avg. price $110.02)

    We are long 3 units UNG (avg. price 35.45)

    We are long 1 unit SB (Sugar avg. price .09987)

    NOTES: That's our position update including prices.  Solid day for us, and even the one weakness (FXC) seems up nicely after the close (at least the $CAD is).   We took advantage of a bond spike in the afternoon to re-enter 1 unit short.  We then covered that unit on a nice move down into the close.  That is what we mean by "trading around a position".  Patience is critical to success.  This morning we were watching to see if USO would give us a buy signal.  As crude oil weakened, it was tempting to want to step in and buy.  However, we waited for stabilization and some strength which never came after the morning, so we stood aside.  That proved to be fortunate.  Another trade that stood out was the FCX long we have.  It pulled back hard today, and almost to our stop-out level.  In fact, it traded just 1 penny above.  Again, discipline is key as it's now had a decent rally off those low levels.  We still might get stopped out tomorrow, but we followed our rules, and over time they haven been effective.

    We expect some spillover into Asian markets tonight, and if they can stay strong, we might get some follow through in our stock indices in the morning.  We will continue to stay short bonds, and look to add at certain point in the day.  Likewise, we'll see how the above position act in the morning and add if opportunities present.  Going forward, we have several catalysts including Hank Paulson's "mortgage remedy", as well as Fridays's payrolls.  Until further notice, continue to trade the above vehicle in the same direction.  We have several setups in the midst, including an ES (SPY) sell, Nikkei (Japan) sell, an SRS long, USO long, etc.  These have yet to give us the green light so just keep on the back burner.  For now we have enough to watch!  Remember that you only need a couple vehicles at any one time to make a great living as long as you manage your position sizes properly and consistently.   Focus on managing yourself and your actions, as the charts, fundamentals, and news are secondary.  This site is a work in progress, and we're open to suggestions.  We'll be posting links to interesting and pertinent articles as they arise.  Good luck and stay balanced.

    People often ask what our time frames are for each trade, and that is different for each position.  In general, however, most trades last about a week or two, BUT we  trade around the positions as you saw today.  Hence, we DO day trade at times.  We encourage any questions and comments on how to improve our site, and hope you find it useful.  This is a great business, but the learning curve can really take awhile as most successful traders don't have any reason to share ideas. This site is our way of giving back to the trading arenas, in the name of the few mentors we found that helped us along the way. Good luck.

    We can't always explain the reasoning for trades, but they are often a combination of technical, fundamental, and "gut feel". Pay attention, have fun, and make money!

    For previous posts visit the archives.

     

     

    This site is for instructional purposes only, and is not to be construed as investment advice.

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