On April 5th I will be appearing as the featured speaker at the monthly Denver Trading Group event in, strangely enough, Denver, CO. Ron Rossway runs a tight, wonderful, group of very knowlwedgable traders. We should have 80-100 people live and about 3-400 online for the event. If you’d like to attend please visit DTg’s website at www.denvertradinggroup.com. It says 9 am to 1 pm. We will go until closer to 4pm. It’ll be my first speaking engagement in over a year and to say I’m a bit revved up is gross understatement. It should be a show. Hope to see you there. Go make your reservation now. Ron tells me it is almost sold out now. If we get to a different level we can move to a larger room at the hotel, so bomb him now.

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Daytrading by Ambush Update for Wednesday February 27, 2008
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Reporting trades from 2/26/08.
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1: MARCH 30 YEAR T BOND
========================================================
USDH8 O=115-30  HI=116-10  LO=115-14  CL=116-00

The PPI rose more than expected in January, though recent data
revisions and the release of the more influential Consumer Price
Index from last week helped keep a lid on today’s trade. The
Consumer Confidence Index for February was much weaker than
anticipated. This also tended to offset some of the effect of the PPI
data.

Rising inflation levels weigh against the case for more Fed rate cuts
while weak economic indicators support the case. A couple of minor
housing-related reports also favored bonds. We ended the day only
up 5 ticks but with almost a full point of range.

From the RTH open at 115-30 Bonds traded down to test 115-16 and
turned like a banshee. I bought 115-18. When we hit 116-00 it became
quickly apparent the run was spent. I watched for most of the next
lackluster 5 minutes and decided to exit on an OB play … sorta’. I
exited at 116-00 for 437. I sold 115-29 and exited at 115-25 for
$125. We moved right back to 116-00 where the whispers turned
weak almost immediately. I sold 115-29 and exited at -21 for $250.
I tried to buy as the retest to -18 was close enough to -16 I thought.
I wasn’t quick enough. I would have had to buy about -23 or so.
It would have turned out fine if I had but the rules say -21 is
the highest I can buy at that setup. I bought 116-03 and exited
at -07 for $125. I next sold 115-29 and exited at B/E. I sold
-29 again and exited at -23 for $187. We ended the day right
back at 116-00.

For Wednesday we’ll watch 115-16, 116-00 and 116-16 for first
action.

========================================================
2: MARCH CANADIAN DOLLAR
========================================================
CDH8 O=10104  HI=10220  LO=10098   CL=10205

The U.S. Dollar broke a very strong support number and was on
the lam all day. Very strong German economic reports and some
other news supportive to the EC put the Dollar at a disadvantage.
With a bigger than expected Canadian budget surplus noted in the
headlines this morning and commodity prices providing the currency
with an aggressive lift in the prior session, it wasn’t surprising to
see the Canadian add to its gains of late.

We hit no numbers I was ok to trade today. I am licking my chops
to sell a failure at 102 anything. I have set an alarm for 10200
and will sell it regardless of the hour IF I’m awake. I can now buy
retests at 10000 and 10070 as they fail to move lower and turn
back north … should that happen.

All the weekend numbers for tomorrow, Tuesday

========================================================
3: MARCH SWISS FRANC
========================================================
SFH8 O=9204  HI=9300  LO=9204   CL=9300

The Swiss has almost acheived the status of most prefered currency.
Just about everything that could recommend the Swiss is in place so
today came as no surprise. The Weekend Edition pretty well nailed
this scenario. I bought 9207 and exited at 9297 for $1125. It was
a pretty easy all day climb.

Stay on the weekend numbers which is a pretty unlikely scenario
at the moment. We are in an area of no structure. Barring a pullback
into our numbers we are confined to the sidelines.

========================================================
4: MARCH MINI RUSSELL 2000
========================================================
ERTH8  O=710.20    HI=724.00    LO=706.50   CL=716.80

It’s pretty clear at this point the market is looking for positive
spins and ignoring anything they don’t like the looks or sound of.
I sold 707.70 right after the RTH open. I exited at 706.10 for
$160. I bought 706.50 and exited at 712.90 on an OB play off
our 713 number. We made $640. I did a couple of B/E trades
and then bought 713.50 which I exited at 719.90 for $640 again.
I did 2 more B/E trades and then sold 721.50 and exited at 722.90
losing $140. We added 2 more B/E trades before selling 721.50
once again. I exited at 717.30 for $420.

All the weekend numbers are in play. The high today at 725 looks
an awfully lot like a top. Watch for pullbacks from there.

========================================================
5: MARCH MINI $5 DOW
========================================================
EYMH8 O=12520   HI=12740  LO=12520 CL=12699

I bought 12560 on the break above 12550. I held it thru much of
the day. As we broke above 12700 I vowed not to let it back up
and break back BELOW 12700 without exiting. I did so at 12697
for $685. That was my one trade for the DOW today.

Stay on the Weekend numbers. 12750 or thereabouts might be a
high from which we’ll see some pullbacks.

========================================================
6: APRIL GOLD
========================================================
GCJ8  O=940.30    HI=953.20    LO=928.90    CL=949.90

I sold 938.50 and exited at B/E. I sold 938.50 again and exited
at 939.00 losing $50. I bought 941.60 and exited at 945.50 for
$390. I didn’t get any more numbers today.

I’ll play 940/950 tomorrow if given the chance.

========================================================
========================================================
The Daily Update is a publication of Daytrading by Ambush

http://www.daytradingbyambush.com
tom.mostlikely@verizon.net

Copyright (c) 2008 daytradingbyambush

========================================================
RISK DISCLOSURE!

Trading commodity Futures and options on futures involves
significant risk. You must consult licensed professionals or your
own advisors before trading to determine if it is suitable for you.

Nothing contained herein is a solicitation to trade or a recommendation
of a specific trade. You must consult your broker or advisor before
making any trade to insure current prices, margin requirements and
other factors determinant to suitability. By reading this publication
you agree to make no trade relying in whole or in part on the comments
of the writers. You agree before doing any trade contained herein
to consult your charts and advisors to verify all information and make
your own decision.

Hypothetical performance results have many inherent limitations, some
of which are described below. No representation is being made that
any account will or is likely to achieve profits or losses similar to those
shown.

In fact, there are frequently sharp differences between hypothetical
performance results and actual results subsequently achieved by any
particular trading program.

One of the limitations of hypothetical performance results is that they
are generally prepared with the benefit of hindsight. In addition,
hypothetical trading does not involve financial risk and no hypothetical
trading record can completely account for the impact of financial risk
in actual trading.

For example, the ability to withstand losses or to adhere to particular
trading program in spite of trading losses are material points which
can also adversely affect actual trading results.

There are numerous other factors related to the markets in general
or to the implementation of any specific trading program which cannot
be fully accounted for in the preparation of hypothetical performance
results and all of which can adversely affect actual trading results.

========================================================

Reporting trades from 2/25/08.
========================================================
1: MARCH 30 YEAR T BOND
========================================================
USDH8 O=116-30 HI=117-02 LO=115-16 CL=115-27

The unwinding of long position was greater than I’d anticipated
but it just shows how biased we are tothe downside at the moment.
Inflation talk seems to be the idea that holds traders attention
right now. It’s as if the market is collecting asking “what recession?”
Talk about a split personality.

We tested 116-16 early and then started a climb into the RTH open.
I could’ve jumped in about 116-21 or so on the continuation angle
but I chose not to. I wanted to see either 116-16 again or 117-00
to initiate anything. We got the 117-00 and I sold 116-29 which I
exited at 116.02 for $843. I bought 116-03 and exited at B/E. I
next bought 116-03 and got stopped at 116-11 for $250. I sold
115-29 and got stopped at 115-19 for $312.

I think we need to be careful tomorrow. The PPI and consumer
sentiment numbers could set the market in motion. I don’t think
it will be enough to be scary as hey priced a whole bunch of
inflation into the market today. Just be on your toes with any
open trade.

For Tuesday we’ll watch 115-16, 116-00 and 115-00 for first
action.

========================================================
2: MARCH CANADIAN DOLLAR
========================================================
CDH8 O=9956 HI=10037 LO=9956 CL=10026

I bought 9955 and hung on for a little pop to 9980’s. I let it ride
a bit after we got there but finally put in an OB order the sell if
80 was broken. It didn’t take long, which is sorta’ the point, idinit?
I was gone at 9978 for $230. I sold 9975 and exited at B/E. The
break above 9975 was very appealing but I said no buys so I let
it go to my very big disappointment. I sold the failure at 10000
at 9995 but got stopped at 10010 on a nasty little spike. I had my
stop at 10003 but they filled me at 10 for a $150 loss. I sold the
failed double top at 10040 at 10035 and closed the trade at 10011
on an OB play for $240.

All the weekend numbers for tomorrow, Tuesday

========================================================
3: MARCH SWISS FRANC
========================================================
SFH8 O=9191 HI=9209 LO=9180 CL=9188

After sinking throughtout the night the SF started a sustained up
move about 3 am. By the time RTH arrived we’d already put on 50
points from the origin and were stting on 9200. I watched it tap
on 9208 and 09 for close to an hour. I sold 9207. I exited at 9192
for $187. I sold 9195 a gain and exited at 9187 on an OB for $100.

Stay on the weekend numbers

========================================================
4: MARCH MINI RUSSELL 2000
========================================================
ERTH8 O=695.50 HI=712.50 LO=692.90 CL=710.60

I seriously don’t understand how the stock market can manage to
gain under the current circumstances. I’m sure the news that some
derivative insurers got help and retained glossy ratings was cause
for celebration but the hangover is gonna’ be a bear - pardon
the pun. Maybe the narket is sayingit is happier dealing with inflation
as opposed to a recession.

I began selling 694.50 on the break of 695. I exited at 696.80
losing $230. I bought 695.50 and exited at 701.70 on an OB play
for $620. I missed the sell off the break of 704. I sold 699.50
and exited at 697.70 for $180. I bought 695.50 and exited at
699.90 for $440. I missed a nice sell on the break of 700. I bought
695.50 and exited at 707.70 on an OB play as we popped above
708 and then retreated below. We picked up $1210

All the weekend numbers are in play.

========================================================
5: MARCH MINI $5 DOW
========================================================
EYMH8 O=12380 HI=12590 LO=12345 CL=12566

I bought 12362 and exited at 12496 for $670. I then sold 12496
and exited at 12400 for $480. I got busy in other markets and
missed a couple of alarms. I ended my DOW day without further
trades. There was a nice buy at 124 that ran near 12550.

Stay on the Weekend numbers.

========================================================
6: APRIL GOLD
========================================================
GCJ8 O=930.60 HI=942.50 LO=928.90 CL=935.40

I sold 948.50 and exited at B/E. I sold 948.50 once more. I exited
this one at 938.30 for $1020. I did 3 additional trades that all
ended at B/E. There were 2 sells and a buy,

I’ll play 940/950 tomorrow if given the chance.