Today's Ideas:
    for morning of Wed. Feb. 6, 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.

    New Update:

      We had some good follow through on the SRS trade to the upside this morning. We were able to add another unit on a pullback just before 11 am, as noted in the ticker. Stay long until further notice, and only decision is when to add, if not stopped out. We've included a daily chart that illustrates 90% of the analysis that went into this trade. It simply in NOT difficult, but managing emotions DURING a trade is most people's downfall. Be content to leave "good positions" alone, until a predetermined exit signal triggers.

    Click here for SRS chart

    Regarding the rest of the session, we'll stand aside mid-day (with stops in place). If we get a substantial entry signal later this afternoon, we'll step in further. Otherwise, we'll be content to look to subsequent setups the next day or two. This SRS trade will not be a straight ride to riches, but more a bouncy road in our direction. It's to be expected.

    Commodities are performing fantastically today, and especially agriculture. Each is up close to 3%, and this illustrates our point about being on the right side of the bigger trend. The "surprises" will tend to be in your favor, and stop outs less likely. Sugar looked as though it would pull back for a few days more, but turned on a dime and headed up again. Whatever readers do, please do not short commodities right now! If you think they are going to pull back, then you should wait out that scenario, and instead look to buy long on the pullbacks. It's a terrible feeling to be short Wheat, when it's locked limit against you.

        Good luck today!

    Position update as of 12:10 pm:

    Long 2 units SRS (avg. price $104.26)

    Long 3 units SB (Sugar avg. price .11008)

    Trading Accounts equity within 2% of all time high.

    For previous posts visit the archives.



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