Thursday, April 06, 2006

THT Trade Update for Wednesday April 5th 2006

Erich's Update for Tuesday, April 4, 2006

1: CURRENCIES

June Australian Dollar ADM6
The Aussie didn't do as we expected so I'm pulling the trade for tomorrow. Wednesday is actually the last chance for the bears to turn the market before it technically becomes bullish.

June British Pound BPM6
The Pound is really making up for lost time as we've had two very strong sessions in a row here. Now we just need for the market to show us resistance before we try to buy it.

June Canadian Dollar CDM6
The CD followed through on yesterday's fade day, which it failed to do the last couple of times this happened. It looks as though we might be in for a short rally until RSI is at another testpoint, so I'm on hold for the time being.

The rest of the currencies are in the Subscriber Edition. To get yours hot off the presses BEFORE the markets open, please go to http://www.TradersHelpingTraders.net.

2. ENERGIES

May Heating Oil HOK6

Heating Oil fell off a bit today, showing us that the market has found resistance. This trend is stronger than Unleaded's so I'll continue looking to buy. Needless to say this is a VERY HIGH RISK trade, but I hope you still grasp what we're doing here even if you just paper trade it (if not, write me).

*BUY May Heating Oil at 186.80
*Exit Stop: 184.65
*Approximate Risk: $903 per contract
*Profit Target: 200.00
*Potential Profit: $5548 per contract
*RRR: 6:1
*Degree of Risk: HIGH

The rest of the Energies are in the Subscriber Edition. To get yours hot off the presses BEFORE the markets open, please go to http://www.TradersHelpingTraders.net.

3: FINANCIALS/INDICES

December (06) Eurodollar EDZ6
Not the most encouraging day for our short position, was it? Leave the stops where they are for tomorrow. We're against resistance now, hopefully it will hold and send the market lower.

The rest of the Financials are in the Subscriber Edition. To get yours hot off the presses BEFORE the markets open, please go to http://www.TradersHelpingTraders.net.

4: GRAINS

May Corn CK6
Corn fell off today as I hoped it would. Having the market fill a bit of the gap and not take off like a bullet, makes me believe that there might be something more to the recent rally. I'll consider buying above the 237 resistance tomorrow.

*BUY May Corn at 237 1/4
*Exit Stop: 234 3/4
*Approximate Risk: $125 per contract
*Profit Target: 249 3/4
*Potential Profit: $625 per contract
*RRR: 5:1
*Degree of Risk: Moderate

May Oats OK6
Oats are too choppy right now. I wish this market would settle down a bit.

The rest of the Grains are in the Subscriber Edition. To get yours hot off the presses BEFORE the markets open, please go to http://www.TradersHelpingTraders.net.

5: MEATS

May Feeder Cattle FCK6
Feeders are definitely the "home run" trade of the quarter for me. I wish they were all this easy! We easily breezed through our second profit target today at 100.32. If you are still short, then you'll want your stops in above today's high, or if you want to play it a little tighter consider 100.50-ish. Next stop, the contract lows.

April Live Cattle LCJ6
Live Cattle continued lower today as well. The ideal stop placement is still above today's high; however you could move stops above 79.00 to cover more profit, which is becoming substantial by the way.

June Lean Hogs LHM6
A fantastic move lower in Hogs today leaves us with a bit of a management dilemma. The move came very quickly, and while it is likely to continue for the long term, we could see a short term reaction. There isn't any intraday resistance to use either, so your best numbers are either breakeven (if you want to let the trade run, or try to), 65.00 (a compromise) or 64.40 (to lock in the most profit).

The rest of the Meats are in the Subscriber Edition. To get yours hot off the presses BEFORE the markets open, please go to http://www.TradersHelpingTraders.net.

6: METALS

May Copper HGK6
There goes Copper calling my bluff again. Okay, I said I'd buy it on the first sign of resistance, and that's what we've got today. The risk amount is reasonable; however the market is treacherous, so don't be deceived into thinking it's a sure thing. The profit target is mere speculation as we have nothing to base it on.

*BUY May Copper at 256.30
*Exit Stop: 254.40
*Approximate Risk: $475 per contract
*Profit Target: 266.95
*Potential Profit: $2660 per contract
*RRR: 5 1/2:1
*Degree of Risk: HIGH

The rest of the Markets are in the Subscriber Edition. To get yours hot off the presses BEFORE the markets open, please go to http://www.TradersHelpingTraders.net.