April 30, 2008
Free Trading Ideas (One Day Tease)
Here are two freebies for Wednesday, April 30. The details for these set-ups, in addition to the details for all the ideas from April, can be reviewed here:
Cat: | Time: 7:53 am (utc+8)
April 30th, 2008 at 10:32 am
I’m not putting on new trades tomorrow with the fed announcement.
But I’m currently short oil so we’ll see how that turns out.
April 30th, 2008 at 11:13 am
Do you trade your own trading ideas? Or is this just an avenue to generate extra revenue?
April 30th, 2008 at 11:15 am
@Darin: Fred will cut 25 bps, but I agree it ain’t smart to fool before the typical announcement gyrations hit — plays havoc with stops, old Fred does. Short Crud is a countertrend play and you know how the Chairman feels about that — why not just smack your head against the wall repeatedly. ;)
@pp: I don’t now, but I will at some point, probably — many of the ideas are remarkably good. You’re right to call it “revenue” because after expenses (labor) the net income is negative. :-)
April 30th, 2008 at 12:14 pm
re: crude. commodities are pulling back on fears of dollar strength. i am not sure why anybody would think the dollar is going to strengthen going forward? it is not like we just paid down the deficit.
it certainly wouldn’t get any stronger against the Asian currencies and the Aussie… i think this pull back is a buying opportunity, with the trend :), once the Fed announcement shenanigans are past us.
April 30th, 2008 at 12:39 pm
Is there a primer to get acquainted with what you’re trying to sell here? Is this day-trading? What’s the time frame, what are the dashed and colored lines on the charts… are you entering via stop orders?
I’m hoping to find a one-pager that sums it up so I don’t have to read through the 5 pages worth of posts that are in “the_box” category… ;)
April 30th, 2008 at 12:57 pm
“why not just smack your head against the wall repeatedly. ;)”
Well if you’re a contrarian and everyone else *isn’t* smacking their heads against the wall….lol
I just have a small put in the USO. Crude has channeled up steeply all of April, and with the fed stuff and the dollar there might be a pullback.
Short crude isn’t something for my IRA though ;)
April 30th, 2008 at 2:38 pm
@Born2: You’re probably right… if you’re really deft (daft?) you might be able to play these countertrend zigs against the main trend zag.
@Jason G.: As part of my “discourage subscriptions” policy, I don’t provide a snappy primer. There is the User Guide, which should help a bit.
The blue line is entry, red is initial protective stop, dotted black is 1x initial risk, dashed black is 2x initial risk, and lime green box is the target zone (not self-evident, all?) :-)
@Darin: I had a crazy doctor in Chicago whose favorite joke was about the patient who said, Doc, I have these terrible headaches, and the doctor replied, Stop smacking your head against the wall … (guess you had to be there, but it was funny every time he told it — helped that we were usually hammered). Sure, short crude, what the hell, just have a stop in place and pray.
April 30th, 2008 at 11:27 pm
The User Guide is what I was looking for… Thanks!
April 30th, 2008 at 11:40 pm
Jason: Note that I wasn’t using the fancy color-coded lines in the User Guide charts… I think I labeled them?
May 1st, 2008 at 2:35 am
CM when you write your book sign me up for two copies please :)
Having just read the comments section to the users guide I can’t quite understand why you want the hassle of being a signal vendor.
May 1st, 2008 at 6:34 am
Andrew: I ask myself the same question every day that I write the letter. :-) I reserve the right to quit at any time.