Thursday, March 30, 2006

THT Trade Update for Wednesday March 29th 2006

Erich's Trades for Wednesday March 29th 2006

7: SOFTS

May Cocoa CCK6
Cocoa's testing support, but we don't have anything to trade just yet.

May Coffee KCK6
Coffee continues in pullback mode. Nothing here tomorrow.

May Cotton CTK6
Cotton pulled higher as anticipated. I'm trailing my sell order just below today's low to short the market on the first sign of a reversal.

*SELL May Cotton at 5265
*Exit Stop: 5320
*Approximate Risk: $275 per contract
*Profit Target: 5080 per contract
*RRR: 3:1
*Degree of Risk: Moderate to HIGH

May OJ OJK6
OJ's pullback was cut short as the market rallied again today. We're on hold here tomorrow.

May Sugar SBK6
Sugar rallied quite strongly today. I have to admit that I was a bit surprised at the strength, but not surprised at the opening gap that voided our buy order. Too bad. We almost nutted this one.

For all daily positions with entries, exits, risk, profit targets, risk/reward ratios in the following markets, join our trading family by going to http://www.supportandresistance.com/subscribe.html

1: CURRENCIES
June Australian Dollar ADM6
June British Pound BPM6
June Canadian Dollar CDM6
June EuroFX ECM6
June Japanese Yen JYM6
June Mexican Peso MPM6
June Swiss Franc SFM6
June US Dollar Index DXM6

2: ENERGIES
May Unleaded Gas HUK6
May Heating Oil HOK6
May Crude Oil CLK6

3: FINANCIALS/INDICES
December (06) Eurodollar EDZ6
June mini-DOW YMM6
June mini-NAS NQM6
June mini-S&P ESM6

4: GRAINS
May Corn CK6
May Oats OK6
March Rice RRH6
May Soybean Meal SMK6
May Soybean Oil BOK6
May Soybean SK6
May Wheat WK6

5: MEATS
May Feeder Cattle FCK6
April Live Cattle LCJ6
April Lean Hogs LHJ6

6: METALS
March Copper HGH6
April Gold GCJ6
May Silver SIK6

THT Trade Update for Tuesday

Erich's Update for Tuesday, March 28, 2006

Hot off the commodity presses to you!
Erich http://www.supportandresistance.com
"Always borrow money from a pessimist; he doesn't expect to be paid back." ~Author Unknown

1: CURRENCIES
June Australian Dollar ADM6

Is this the support we've been waiting for? It's tough to tell isn't it? I'll hold off one more day before trying something here. This market is in freefall and I'd really like to get on board.

June British Pound BPM6
Small day in the British Pound. We're trading just below resistance at 175.55 - 175.60. I don't know if that will be enough to bounce the market again or not...either way I'm not crazy about the setup.

June Canadian Dollar CDM6
The CD gapped our entry, again. This is the second time in as many weeks that the market has sidelined our efforts to sell it. Nothing new here tomorrow.

June EuroFX ECM6
Heavy resistance at 121.00 today. I'm not sure this will affect the market tomorrow in a negative way as RSI drove much higher today.

June Japanese Yen JYM6
A small day with a big gap. Think I'll continue to watch.

June Mexican Peso MPM6
I didn't expect the Peso to reverse again so quickly. I was hoping to get one or two more days out of the pullback, but right now it doesn't look like that will happen.

June Swiss Franc SFM6
Small day in the Swiss Franc. Like the EC I expect a bit of a rally, but I'm not too happy with the numbers either way.

June US Dollar Index DXM6
A very hard bounce off the RSI trendline is making me a seller here tomorrow if rates dip below 8950. This market still hasn't developed much of a trend, so I don't necessarily consider this to be a countertrend trade; however I don't think I'll push it too hard.

*SELL June US Dollar Index at 8947
*Exit Stop: 8977
*Approximate Risk: $300 per contract
*Profit Target: 8847
*Potential Profit: $1000 per contract
*RRR: 3:1
*Degree of Risk: Moderate to HIGH




For all daily positions with entries, exits, risk, profit targets, risk/reward ratios in the following markets, join our trading family by going to http://www.supportandresistance.com/subscribe.html

2: ENERGIES
May Unleaded Gas HUK6
May Heating Oil HOK6
May Crude Oil CLK6

3: FINANCIALS/INDICES
December (06) Eurodollar EDZ6
June mini-DOW YMM6
June mini-NAS NQM6
June mini-S&P ESM6

4: GRAINS
May Corn CK6
May Oats OK6
March Rice RRH6
May Soybean Meal SMK6
May Soybean Oil BOK6
May Soybean SK6
May Wheat WK6

5: MEATS
May Feeder Cattle FCK6
April Live Cattle LCJ6
April Lean Hogs LHJ6

6: METALS
March Copper HGH6
April Gold GCJ6
May Silver SIK6

7: SOFTS
May Cocoa CCK6
May Coffee KCK6
May Cotton CTK6
May OJ OJK6
May Sugar SBK6