I have received a few emails about the location of the list of trades, on the right in a grey box it says "Trade Ideas/Stock Lists"; just click on the link "latest trades" and it will bring up a spread sheet, scroll to the bottom of the spread sheet and that is where you will find the newest trades. Next Spread sheet I will try to modify it so the newest trades are on top.
Today we had a bunch of swing trades that didn't get triggered, I picked Swing trades because of the market's volatility and probable top. The cats and dogs trades were waning. I'll throw some up tonight, but -as I posted at Trade-Guild.net tonight, the FOMC meeting is tomorrow, they likely will not move rates unless it is the overnight lending rate to further discourage the continuation of the dollar carry trade. Other then that, the market will be acutely attuned to every word and nuance, the tone of voice and facial expressions in trying to divine when interest rates are likely to rise. This is the reason we saw the volatility in the market that we saw today.
So keep your stops in place, exercise them when needed, keep the new positions at smaller sizes and don't forget that CASH is a position and one in which you will not sustain any losses, at least until the fog lifts. Remember this the first reaction to FOMC announcements is almost always the wrong reaction and reversed in a matter of days!
The new ideas will be up in about an hour.
Monday, March 15, 2010
Lesson Learned
Last night's list is performing horribly today, but for those of you who have been at this site for more then a few weeks may have noticed something different about the list, it was packed full of limit order trades only; this is because these trades were swing trade setups and we are still technically (may change at the close) in an uptrend, but as you know, I'm expecting a downside reversal. If you followed instructions and read the notes, hopefully you didn't get into any of these trades that bombed.
POINT IS-Read the notes! Use the Stops! I rarely use limit order trades, but if you see them, there's a good reason for it and today is proof positive of that reason. All of the trades except for one that were for market execution are either profitable or have offered profits as high as +6% on the day. So if you followed the notes, you shouldn't have been in any losing trades except potentially one.
On another note-Read the most current post at Trade-Guild on XLF, I'll add more later, but this will explain the situation, where we are at and how we'll move forward. Before I could even finish the post, the 1-min 3C chart was right on and we saw a break or resistance. If the 30 minute chart continue to develop, then we need to be very cautious indeed.
POINT IS-Read the notes! Use the Stops! I rarely use limit order trades, but if you see them, there's a good reason for it and today is proof positive of that reason. All of the trades except for one that were for market execution are either profitable or have offered profits as high as +6% on the day. So if you followed the notes, you shouldn't have been in any losing trades except potentially one.
On another note-Read the most current post at Trade-Guild on XLF, I'll add more later, but this will explain the situation, where we are at and how we'll move forward. Before I could even finish the post, the 1-min 3C chart was right on and we saw a break or resistance. If the 30 minute chart continue to develop, then we need to be very cautious indeed.
TRADES FOR MARCH 15, 2010 ARE UP
You'll notice quite a few longs on the list, be sure to check the notes; if they are red, then they are limit orders, if any trades DO NOT specifically say "Limit order" then they can be executed on the open at market.
The long trades are mostly swing trade setups, but keep a watch on the shorts on the last weeks for of lists, they are still good and the market seems to be turning, but the long swing trades are in good setup positions.
If you have questions, feel free to email. Again I mention, go to Trade-Guild and sign up for emails of the posts or you can do it here:
Also sign up to follow my twitter feed to see my real time charts posted during the day on Chart.ly-just click the link below:
The long trades are mostly swing trade setups, but keep a watch on the shorts on the last weeks for of lists, they are still good and the market seems to be turning, but the long swing trades are in good setup positions.
If you have questions, feel free to email. Again I mention, go to Trade-Guild and sign up for emails of the posts or you can do it here:
Also sign up to follow my twitter feed to see my real time charts posted during the day on Chart.ly-just click the link below:
