"Tom's Trades" for Wednesday, August 17, 2005

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"Tom's Trades" for Wednesday, August 17, 2005
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The big "60" ... hard to accept, hard to imagine. I can remember as a kid about 9 or 10 thinking about being 55 at the turn of the century. I couldn't even conceive of being 60. Thanks to all who sent your good wishes for both the birthday and the surgery. I don't remember ever looking forward more to a birthday present than I am the surgery tomorrow.

This will be my last commuication until the weekend. Be careful and smart with your trades ... manage them like I know you can.
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1: SEPTEMBER 30 YEAR T BOND
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USDU5 O=5-17 HI=6-16 LO=5-17 CL=6-05

We opened up buying at 115-21 and getting stopped out at -23 for plus 2. I bought -22. I patiently rolled right along with a nice move up. At 116-14 I had the stopped rolled to -11. It came right after us. Out at -11 for 21 ticks, 656. I buttoned up shop at that point. By doing so Iit looks as though I might have missed one more play, selling -14 that would have made another 10 or 11 ticks.

The close at 116-05 makes 116-00 and 116-16 the focus for tomorrow.
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2: SEPTEMBER EURODOLLAR
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EDU5 O=.002 HI=.007 LO=.000 CL=.005

Still watching and waiting.
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3: SEPTEMBER CANADIAN DOLLAR
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CDU5 O=21 HI=64 LO=21 CL=46

Saw our number but it was headed the wrong direction. Nothing done. I'd give 8330 a run tomorrow on a sell.
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4: SEPTEMBER Swiss Franc
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SFU5 O=54 HI=93 LO=41 CL=91

Danced all around us but never gave us a shot at an acceptable entry. I'd take a run at selling a failed retest of 8000 tomorrow if given the chance.
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5: SEPTEMBER MINI RUSSELL 2000
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ERTM5 O=6.50 HI=7.50 LO=4.60 CL=4.90

We had a nice start to the day. We sold 664.80 and hung on for a quick run right to 660. I bailed at 660.40 for $440. Happy Birthday, Tom. I bought 660.20 and exited at 661.40 picking up a little profit, $120. We then sold 659.80 and bailed at 658.20 on the "once broken theory" for another small take of $170. Sold 1 at 659.60 and out at 658.10 for $150. Next up we sold 659.60 again. It was pretty clear when this run ended we were headed higher so I bailed at 657.60 picking up another $200. I quit early and missed another sell at 660 that would've made another 4300 or so. All the numbers for tomorrow and the rest of the week. Go get 'em gang.
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6: DECEMBER GOLD
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GCZ5 O=6.30 HI=1.80 LO=6.20 CL=1.50

A big turn around and back to 450. Nothing for us. Same ol', same ol' ... $10 Channels.
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7: DECEMBER COTTON
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CTZ5 O=.25 HI=.65 LO=.01 CL=.02

They did their best to make it look like a bottom. A break above 48.65 is worth a buy. I'd think the stop is 48.57 and I'll be at B/E at 48.71. This is a risky trade and not suitable for the risk adverse.
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8: SEPTEMBER COCOA
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COU5 O=40 HI=55 LO=39 CL=41

Nothing for us. I will stay with the numbers from TT ... 1356 and 1400.
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9: DECEMBER CORN
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CZ5 O=2.24 HI=2.25 3/4 LO=2.22 CL=2.22 1/4

lets buy the bounce off 2.22.
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10: DECEMBER WHEAT
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WZ5 O=3.31 1/2 HI=3.36 1/2 LO=3.24 1/2 CL=3.25

We bought 3.32 1/2 and exited at 3.35 for 2 1/2 cents, $125. We sold 3.31 3/4. I thought long and hard about holding the short trade overnite. Since I doubt I'll be able to watch anything tomorrow, I exited at 3.25 1/2 for 6 1/4 cents, $312. I'm just a watcher at this level for tomorrow. I would buy the break above 3.28 tomorrow.