Today's Ideas:
    for evening of Wed. Dec. 19, 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 6:30 pm:

    We are long 2 units FXI (avg. price 171.003) 

    WE are long 1 unit NQ (avg. price 2051.87)

    We are long 1 unit $CAD (avg. price .98233)

    We are long 2 units SB (Sugar avg. price .10375)


        We have several trade updates to make. We exited our Canadian dollar (CAD) position at .9978 at 3:31 pm. It's still a valid signal on the long side, and we'll look for possible re-entry. We closed out the NQ day trade at 2057.50 at 2:24pm. Again, we might re-enter if the setup calls for it after 10 am tomorrow. Oracle (ORCL) had earnings after the close, and the stock is up nicely. This illustrates the thought we discussed yesterday concerning which index to trade from the long side. It's our belief that since they are all highly correlated, we trade the index in the strongest long term trend. Many traders look for the index with the relative strength of the day, but this is not as good an indicator to us. In any case, it's splitting hairs, and the important thing is that we get in some index and don't miss the signal.

    We are still long 2 units of FXI (see avg price above), and this is a candidate to add after 10am tomorrow. We've stated before we don't like the long side in stocks right now, but a signal must be taken, so we're long. Look for us to scale out into sharp moves our direction, and to re-load when it's favorable risk/reward. The JPY (yen futures) is also nearing a buy signal. We're cautious as the year winds down, and remind traders to use appropriate sizes adjusted for volatility. Let's see what happens tomorrow.

    Here's the best article I read today...

    Link: Real estate meltdown

    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.



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