"Tom's Trades" for Tuesday, September 13, 2005

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"Tom's Trades" for Tuesday, September 13, 2005
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1: DECEMBER 30 YEAR T BOND
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USDZ5 O=6-09 HI=6-11 LO=5-21 CL=5-31

As I speculated yesterday, the bonds opened gap down moving us to the next lower level. My first trade was a buy at 116-03 which was stopped out at B/E. Next up we sold 115-30 and ran with it down to 115-21. Here I reversed the trade buying 2 at 115.22. We pocketed 8 ticks, $250 on teh closed out short. The open long I closed at -27 for another 5 ticks.

Based on the close at 115-31 we'll be looking up 116-00 and 115-16 tomorrow.
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2: MARCH 06 EURODOLLAR
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EDH6 O=.800 HI=.805 LO=.770 CL=.790

A nice day for our short trade from .920. With today's action 95.800 has gained stature. I moved my stop to 95.805. We'll see what tomorrow brings. We are sitting pretty at the moment.
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3: SEPTEMBER CANADIAN DOLLAR
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CDU5 O=40 HI=53 LO=28 CL=33

I big overnight move lower prompted an opening gap down. I'll stay with 8400 for the moment.
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4: SEPTEMBER SWISS FRANC
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SFU5 O=7 HI=77 LO=45 CL=47

They dealt us a big opening lower gap here as well. Nothing done toady. They took it off the table. I did nothing here today. Same numbers for tomorrow. I doubt we'll see it. I'll also sell a retest into the 7975 to 90 area that fails to break 8000. The stop gets a little tricky with such a wide range of entry. Whereever I get filled i'll put the stop back $125. That should be enough room for the SF to show its intent. I'll get it to B/E very quickly to compensate for the vagaries of the initial stop ... fill in the 90's B/E is at 89; in the 80's at 79; in the 70's 69.
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5: DECEMBER MINI RUSSELL 2000
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ERTZ5 O=1.20 HI=6.90 LO=9.10 CL=3.40

With our first day in the new contract numbers this should be interesting. I sold 679.70 and tried to get out at B/E ... filled at 680.00 losing $30. I bought 680.40 and out at 681.40 for $100. Next, I bought 682.40 and bailed at 685.00 for $260. I missed tha last big run higher near end of day.

No new numbers.
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6: DECEMBER GOLD
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GCZ5 O=2.70 HI=3.90 LO=1.20 CL=3.70

Flirted with it but no dice. $10 gold channel for tomorrow.
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7: DECEMBER COTTON
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CTZ5 O=.80 HI=.30 LO=.55 CL=.20

Ugly day. I hope you followed the advice in TT yesterday. Now you know why I so infrequently take trades home with me overnight. This was wild gap day. A lot of folks got hammered today in a lot of markets. Not Us. I waited and then bought 50.60 closing it out at 51.15 for 55 ticks, $275.

Same numbers from Tuesday's update again for tomorrow.
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8: DECEMBER COCOA
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COZ5 O=00 HI=07 LO=80 CL=83

Nothing done. Another big gap open. Same TT numbers for tomorrow.
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9: DECEMBER CORN
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CZ5 O=2.10 HI=2.11 3/4 LO=2.06 1/2 CL=2.11 1/2

Yikes ... dead long walking. There is nothing to do until the structure builds or we return to 2.16 1/2 where I will buy.
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10: DECEMBER WHEAT
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WZ5 O=3.20 HI=3.29 LO=3.18 CL=3.26 1/2

Another gapper at the open. Just enough to wipe out long's stops and then zapped it right back to yesterday's close. We got to 3.26 but why trade this craziness. I let it be. Same TT numbers for tomorrow.