Fear The Future Radio

Just wanted to say that there are many trading lessons to learn and also be reminded. Here’s a few of them:

Trade what you know. – If you want to get into a trade be sure to know what you’re trading before you take sizable positions. If it’s a stock you never heard of or is more thinly traded, consider taking a position that’s a little smaller than you normally would. This way you can get a feel for the action first and if it isn’t going your way and hits your stop, then you’re not out much, just paying for the lesson. If you don’t follow this rule, you might be paying for an expensive lesson!

Stick to your setup. – Before getting into your trade you need to have a setup. This consists of an entry, a target, and a stop(loss). Also you want to plan ahead of what kind of trade you’re getting into. Are you going to scalp it for a few points, or are you looking for a good run and going to trade with targets and trailing stops. Know that ahead of time before you take the trade, then STICK TO THE SETUP!

Those are just 2 rules that I’m reminded of from time to time that can save a lot of money if you can remember them or can cost you a lot if you break them!

Futures lower this morning on not so hot economic data. Drugs and oil are also pushing a little higher this morning.

What we’re watching:

CADX, IMCL

HK, RIG, USO

Futures up this morning, the President signs the housing bill, and oil still below $122. We may see a little pop and drop then we think things still look bullish today. The USD is showing continued strength in this market. Good economic data this morning helped that as well. On the earnings front…

Here’s what we’re watching:

V and MA – Both are getting ready to report earnings. Should see some volatility in them today. On V it looks like it may push through 78 today. Use that as your entry/stop price.
On MA use the 279 area.

Trade smart!

Futures are up this morning after yesterday’s sell off. We’ll see if the markets can get another rally going today.

What we’re watching:

X – had monster earnings

Also watching the steel sector as a whole as they may continue to run.

Futures slightly down this morning. Not a ton of data today but this week will have enough to keep the markets moving. Rescue plan for FNM and FRE may show some continued bullishness in the markets at least for the near term. Keeping an eye on oil and gold as well.

What we’re watching today:

AMGN – giving good drug data and got an upgrade this morning. The 62.70s range is one to watch. We like is short below those levels and long above them.

MT & X – Just a hunch that the steel sector may also be in play this morning.

Futures looking pretty decent here, things looking ok here. Oil down and we’re thinking it doesn’t do anything crazy over the weekend. Gold down too. We should see a rally today. But just be careful if you plan to hold anything over the weekend.

What we’re watching today:

Batman – going to go see it today so not gonna get into any trades.

Have a great and safe weekend!

Futures slightly up this morning. Markets may give back some of the recent rally,but in this environment anything can happen. We have Oil data coming out today too so we’ll see if that affects the way the markets go today. Eye’s are still on earnings reports as well.

What we’re watching today:

USO – pending Oil data

MA and V – watching to see what happens as credit remains to be a concern in the market place.

Futures sank hugely this morning, they’ve recovered a bit from the lows, but things are getting scary out there. AAPL missed the street’s expectations and there’s also some fear concerning Steve Job’s health. Is the fed going to step in and help the USD(U.S. Dollar)? Gold is starting to pick back up again as well. Wachovia (ticker WB) posts $8.9 BILLION loss and cuts it’s dividend, and plans to exit it’s wholesale mortgage lending division! YIKES!

What we’re watching today:

AAPL: Hugging $150 right now but broke below that yesterday after closing in the upper $160s. it’ll be interesting to see what it does today. Use that $150 area as your stop if you trade it today either way.

BJS – If it can break 33.80s-34 range this one may be good for $2+ today.

We’re looking for a bounce to start the morning, but keep those stops tight on days like this! And don’t trade with too large of positions! Go get em!

Futures slightly up this morning. Oil is creeping back above $130 a barrel just something to keep an eye on. Seems like the pros can move this with any news or any scare to make it pop. BAC reported better than the street but still profits lower.
AAPL reports after the close.

What we’re watching:

AAPL – we may see some back and forth action although it took a hit on friday with GOOG’s not so hot report so it may see more upside than downside action with speculators hoping to cash in.

BIIB – with different drug companies making some news this one has started to come back up a bit, had a big pop on Friday so we’ll have to see if it has any more left in the tank.

Futures all over the place this morning. Kinda scary when a company (Citigroup) reports a few BILLION dollar loss and it was better than expected and the stock goes up in the morning! GOOG didn’t have hot eanrings last night, just missed some expectations. But total earnings weren’t that bad. Stock still got punished.

What we’re watching:

Not sure today, it’s options expy and with such negative news things shot up so we may take an early weekend. But…

Might want to watch gold and oil stocks. They seem to rally a little on fridays. GLD, GG for golds, and HK, USO, OIH for oils.

AAPL reports on Monday too so if you decide to play it don’t go too big!