Official Room Calls: 2/2 trades green for a total of +13 points (3=[3/5 * (2/3*10 + 1/3*-5)], +10) or +6.5 points per trade per contract.

Have a great extended weekend traders! I refer you to the blog for the account of the day's activities: http://www.puretick.com/blog/?p=67

The only additional thing I wanted to mention is that Alex suggested you might also consider options to hedge stuck positions if an exchange goes down (such as the ECBOT which went down again today several times). Keeping in mind that one options contract controls 100 shares of the underlying instrument, you could, for example buy 5 DIA March 2007 calls (with a strike price of your choosing) to hedge a stuck YM short contract (or buy puts to hedge a stuck YM long). Since options trading requires special brokerage account agreements to activate, you need to have it set up beforehands in addition to pre-planning exactly which month and strike price you will choose for the hedge. You should also be familiar with the trading platform for placing orders etc. The advantage of options is you do not need as much equity to control the same number of shares of the underlying instrument. Since I am not an options trading whiz the suggestion I made above may not be optimal (for example, I chose March because we are currently trading the March YM futures but you could also choose the current month, next month etc.) so I will defer you to Alex to formulate a specific plan. See the following video if you have not already for a possible strategy you might follow in case of disasters/outages: http://www.puretick.com/video/hedge In summary we suggested in the video taking an opposite position in an active exchange for stuck YM contracts with the ratio of 1 ES contract / 3 YM contracts or 500 shares of DIA/1 YM contract.

So far Alex has called his trades 161 correct out of 203 trades, with 1 BE trade. Great work again Alex!

Text Transcript (all time stamps are in EST): http://puretick.com/chat_logs/paltalk_log_011207.html

Executions/Track Record: http://www.puretick.com/trkrecord.html

Audio Transcripts:
Full Session (Good instruction and anecdotes. It is the entire day this time in one capture, with silent periods removed automatically as usual. The file is about 2 hours in length or 18MB so be patient while downloading): http://puretick.com/audio_logs/alex_01122007_full.mp3

Related Blogs/Podcasts (for additional details of the day's action):
Full Session: http://www.puretick.com/blog/?p=67