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    Today's Ideas:
    for morning of Thurs. Jan. 17, 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 11:39 am:

    Short 1 unit ZB (Bonds avg. price 119 21/32)

    Long 3 units SB (Sugar avg. price .10701)

    NOTES:

       Lots of treacherous action in stocks lately, and this morning was no different. It's important not to get married to an opinion/direction. This is difficult because good traders need conviction, yet conviction can be a killer. The best way to cope with this is to be patient on entries and exits, and stay true to your original plan. You cannot get shaken mid-trade. As Tim Knight over at "Slope of Hope" puts it, "no ad-hoc closes."

    As I type, the NQ futures (QLD etf) is close to triggering a buy signal, so keep an eye on our ticker for updates. We initiated a short ZB (bonds) trade this morning at 119 21/32, and expect this trade to be a short term only. We might get and opportunity to add before 1pm, and we'll notify immediately if the signal occurs. This is not the type of market to "chase" a mixed or weak signal, as you'll get slaughtered.

    Sugar is cruising along nicely, and we continue to be long 3 units. We are staying with the position, but might get a sell signal in the near future. We hope this signal does not occur, as we like the long term setup and fundamentals. This trade was taken for different reasons than our shorter term setups, so pay attention. As we type, Sugar futures are up 6.2% today alone, on top of already spectacularly steady gains.

    As noted on the ticker, we could be in for a few days more of this sideways volatility, but then we should be able to get some sort of rally. Although we will play this rally long, we are especially concerned about positioning for the bear market.

    Moving averages are rolling over all across the world, and short side trading will rule the day. There will be opportunities on the long side, but shorter term holds (10 days max.).
    Good luck and stay centered. We're hoping you're making money with us. Our accounts equities are at all time highs, even with the recent sideways volatility we're proud to say. On to the next trade!

    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 don't always have the time to 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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