"Tom's Trades" for Thursday, September 8, 2005

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"Tom's Trades" for Thursday, September 8, 2005
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*** TOMORROW IS "ROLL DAY" FOR ALL THE STOCK INDECIES. WE WILL BEGIN TRADING DECEMBER E-MINI RUSSELL TOMORROW FIRST THING. ***
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1: DECEMBER 30 YEAR T BOND
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USDZ5 O=6-30 HI=6-31 LO=5-29 CL=6-09

We sold 115-27 as Bonds continue to act like a rock thrown into a pond. An uneventful ride to break -16. When it dipped to -09 I rolled the stop and was botted at -12 for 15 points ... just shy of our 16 point daily goal. Later we bounced back to -16 and I got one sold at -14 which we bailed on at -04 on the turn at -02. That gave us a nice 25 point day, $781.

We rebounded a bit near the close settling at 116-09. We'll look to 116-00 and 116-16 as likely initiation points and go from there. -08 is in the mix as well but we need to do one trade off the main numbers first.

Anybody still doubt the wisdom of "NO BUY " zones at elevated price levels?
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2: MARCH 06 EURODOLLAR
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EDH6 O.905 HI.905 LO.825 CL.840

We now have a nice little trade going with about $150 of accumulated profit for our short time of $62 at risk. 95.825 was very much a "what's most likely" level for the market to bounce a little. If you still didn't get in today on the break of .875 I think you can take a flyer selling a failed retest there or more likely of .825 tomorrow. I've now got the stop at 95.885.
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3: SEPTEMBER CANADIAN DOLLAR
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CDU5 O=06 HI=48 LO=79 CL=12

A wicked little fake break lower today only to snap right back. I sold 8396 and was stopped out at 8404 for an $80 loss. Canucks, they are a very tricky lot, eh?

Same TT weekend numbers tomorrow.

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4: SEPTEMBER SWISS FRANC
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SFU5 O=78 HI=87 LO=42 CL=54

I sold 8084. That was certainly a stretch of the concept of a retest at 8100 but that IS the way I saw it ... especially after taking a peek at the overnight action. What the hey, the stop was only back at 8093 for risk of $112 if I was wrong. Turned out I wasn't. Take a guess where it went? No not 80.50 as I wrote about in TT ... it went to 8052 ... mised it by 2 ticks. I bailed as soon as the candle opened green and got out at 8072. Could have been worse though, I guess but what a disappointment. We picked up $150. We gave back way too much.

Tomorrow I'll go on a failed retest of 8100 as it heads lower again. I will also sell a break of 8020.

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5: SEPTEMBER MINI RUSSELL 2000
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ERTU5 O=4.20 HI=7.70 LO=1.70 CL=6.40

We began the day buying 673.70 and exited at 674.40 for $70. I sold 672.70 and exited at 673.00 for a small $30 loss. I followed that one buy buying 673.40 and exited at 674.90 for $150. I then bought 673.40 and bailed at 675.20 for $180. I then had to go to PT so quit for the day with $370.

The full array of all TT numbers for tomorrow.
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6: DECEMBER GOLD
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GCZ5 O=7.50 HI=0.20 LO=7.30 CL=9.00

We sold 448.60 and stopped out at 449.30 losing $70. Sold 448.60 again and was stopped out at 449.30 again for another $70 loss.

$10 gold channel for tomorrow.
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7: DECEMBER COTTON
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CTZ5 O=.80 HI=.90 LO=.60 CL=.88

I bought at 51.64 and exited at 52.50 for $430. I'll plaay yesterday's numbers again .
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8: DECEMBER COCOA
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COZ5 O=20 HI=52 LO=12 CL=49

A big opeming gap killed our chances of doing anything early. It eventually made it's way to 52.50 but way too late in the day to be of use. Nothing. Same TT numbers for tomorrow.
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9: DECEMBER CORN
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CZ5 O=2.19 3/4 HI=2.20 LO=2.16 1/2 CL=2.17 1/2

Nothing today. I'll play the same TT numbers tomorrow.
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10: DECEMBER WHEAT
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WZ5 O=3.21 HI=3.22 LO=3.17 1/2 CL=3.18 3/4

Nothing in our ballpark today. Same TT numbers for tomorrow.