Traders Helping Traders Daily Update for Tuesday March 15, 2005

I hope that you are enjoying our profitable trading picks, as we invest enormous amount of hours in market research and analysis.

You see, ever since I began publishing my ezine and nightly updates many experienced traders have asked me to help them with their trades. Actually, the plain truth is that they just wanted me to trade their accounts for them!

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It would be up to you to decide if you wanted to participate in the recommended trade, or to pass and wait for the next opportunity. If you decided to take the trade however, I would look after everything for you, from entry, through managing stops to final exit of the trade. All communications and confirmations of trades will be done with you directly.

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Erich
erich@tradershelpingtraders.net ==================================================
Erich's Update for Tuesday, March 15, 2005
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1: MAY CORN
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CK5 O=3 H=3 1/2 LO=0 1/4 CL=1

Got a bounce off the 225 resistance this morning, but that wasn't a real surprise. Walked with about $250 per contract when we got stopped out after the open. Looking for another chance to buy in...probably see support at 216 1/2 - 217 before the next reversal.
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2: MAY COTTON
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CTK5 O=15 HI=20 LO=80 CL=11

Nutty day in cotton today as prices tried to fall off but rallied hard again by the close. Probably see a higher session tomorrow, but I'm a little hesitant about buying in right now. Think it will be safer to stand aside and wait for a better setup.
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3: MAY BEAN OIL
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BOK5 O=85 HI=22 LO=63 CL=68

Bean Oil followed the other grains lower today stopping us out of our long position right after the open. Did manage to pick up about $150 per contract, but it wasn't much to show for all our effort. Expect bean oil to "normalize" a bit over the next few days before we get another chance to buy.
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4: ARPIL LIVE CATTLE
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LCJ5 O=50 HI=65 LO=75 CL=10

The 8885 support line in cattle held today and managed to stall last week's quick decline. I'm still expecting prices to fall off a bit and try to fill the gap from February 3/05. Then I'll be getting real serious about selling this market...but not just yet.
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5: MAY COCOA
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CCK5 O=94 HI=00 LO=65 CL=72

Cocoa was very respectful of our support and resistance numbers today, just take a look at today's high and low, right on the money.

I think we've got this market pretty much cornered right now. I'll look at a buy or a sell tomorrow; however given the current trend I have to say I'd be a little more comfortable with the buy side of the equation, but I'll let the market decide.

*BUY May Cocoa at 1806
*Stop 1789
*Approximate Risk Exposure: $170 per contract
*Profit Target: 1864
*Approximate Profit Potential: $580 per contract
*RRR: 3:1
*Degree of Risk: Moderate to HIGH

-OR-

*SELL May Cocoa at 1759
*Stop 1776
*Approximate Risk Exposure: $170 per contract
*Profit Target: 1706
*Approximate Profit Potential: $530 per contract
*RRR: 3:1
*Degree of Risk: Moderate to HIGH
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6: MAY WHEAT
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WK5 O=56 HI=57 1/2 LO=52 CL=54

Wheat gave us a reaction to nearby resistance this morning as well. Fortunately the market opened reasonably well so we were able to pick up about $850 per contract when we got stopped out.

Expect wheat prices to fall off a bit for the early part of the week before we look at buying again.
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7: JUNE CANADIAN DOLLAR
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CDM5 O=87 HI=12 LO=75 CL=00

Smallish day in the CD today probably due to some market specific reports due out tomorrow. Notice how traders hesitation has caused the market to form a small pennant formation. Technically you could trade the breakout to either side; however I'll confine myself to buying the market at this time.

Note, this is a more aggressive version of the weekend trade.

*BUY June Canadian Dollar 8331
*Stop 8309
*Approximate Risk Exposure: $220 per contract
*Profit Target: 8418
*Approximate Profit Potential: $870 per contract
*RRR: 3 1/2:1
*Degree of Risk: Moderate to HIGH
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8: MAY SILVER
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SIK5 O=5.5 HI=6.5 LO=7.5 CL=1

Silver fell off to test support on the price and RSI trendlines today. This means the market is at a testpoint and needs to break or bounce tomorrow. Given the strength of the current trend I'll look to buy rather than sell, but if we see another lower session tomorrow I'll be getting a little more bearish.

*BUY May Silver at 757.5
*Stop 753.5
*Approximate Risk Exposure: $200 per contract
*Profit Target: 770
*Approximate Profit Potential: $625 per contract
*RRR: 3:1
*Degree of Risk: HIGH
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9: DECEMBER EURODOLLAR
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EDZ5 O=.95 HI=.86 LO=.825 CL=.845

Doesn't the ED remind you of the little engine that could? Today the market headed lower yet again, getting a little closer to our first profit target at 9578. You might want to bring exit stops a little lower to protect more profit, placing them slightly above today's high (maybe 9587.5).
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10: WILD CARD
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No wild card market - yet.
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RECOMMENDED BROKER
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