I can't seem to be able to get into the Aweber site to mail out Tuesday's update so here it is:
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Commodity Pick Report
Morning Call: May 12, 2009
"The money's made in the sitting and the waiting, not the trading." - Jesse Livermore
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Welcome to Commodity Pick Report!
Commodity Pick Report gives you my best hand picked trades for each week. The trades below are classified according to their probability of success, with low risk trades having the greatest probability of working out and high risk trades the least regardless of risk amounts.
There are also trade management suggestions for open positions. Profit targets are offered for your consideration but unless specified trades will be managed according to the commentary. I would advise you to adjust recommendations to suit your own circumstances.
Remember that making money in trading does not require you to take numerous trades; rather the best way to make money is to take multiple contracts on the most promising trades. All trade recommendations are written for single contracts; however you might consider trading multiple contracts whenever your account, and risk tolerance allow.
Note: CPR trades do not account for slippage; therefore your actual fills might be slightly different than those reported here.
Here's to your success!
Erich
erich@tradershelpingtraders.com
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1: CURRENCIES
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June Australian Dollar ADM9
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FLAT
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June British Pound BPM9
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Not much has changed for the British Pound so I'll try running the order again for Tuesday.
If the June British Pound opens at or below 150.00
BUY June British Pound at 153.03 (stop)(day)
If filled: Exit Stop: 149.63 (stop)(GTC)
Approximate Risk: $2125 per contract
Profit Target: 155.43 (limit)(GTC)
Approximate Profit: $1500 per contract
Degree of Risk: HIGH
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June Canadian Dollar CDM9
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FLAT
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June EuroFX ECM9
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FLAT
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June Japanese Yen JYM9
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FLAT
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June Swiss Franc SFM9
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FLAT
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June US Dollar Index DXM9
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FLAT
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2: FINANCIALS/INDICES
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March Eurodollar EDH0
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FLAT
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June 30 Year T-Bond USM9
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FLAT
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June mini-DOW YMM9
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FLAT
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June mini-S&P ESM9
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FLAT
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3: GRAINS
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July Canola RSN9
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FLAT
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July mini- Corn @YCN9
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We got filled in our long position in mini-Corn to start the week. There could be a slight pullback phase before the market tries to continue higher.
CONTINUATION of Long July mini-Corn at 423 1/4 (May 11)
Exit Stop: 406 1/4 (stop)(GTC)
Approximate Risk: $170 per contract
Profit Target: 445 3/4 (limit)(GTC)
Approximate Profit: $225 per contract
Degree of Risk: Moderate to HIGH
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July Oats ON9
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FLAT
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July Soybean Meal SMN9
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FLAT
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July Soybean Oil BON9
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FLAT
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July (mini) Soybean @YKN9
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FLAT
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July mini-Wheat @YWN9
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FLAT
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4: MEATS
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August Feeder Cattle FCQ9
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The only thing I don't like about this trade is the large risk amount. Other than that it looks like Feeder's will try to rally off support.
If August Feeder Cattle open at or below 102.00
BUY August Feeder Cattle at 102.35 (stop)(day)
If filled: Exit Stop: 100.05 (stop)(GTC)
Approximate Risk: $1150 per contract
Profit Target: $103.95 (limit)(GTC)
Approximate Profit: $800 per contract
Degree of Risk: Moderate to HIGH
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June Live Cattle LCM9
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If Feeders are too expensive here's the "poor man's" version of the trade in Live Cattle:
If June Live Cattle opens at or below 8352
BUY June Live Cattle at 8372 (stop)(day)
If filled: Exit Stop: 8262 (stop)(GTC)
Approximate Risk: $440 per contract
Profit Target: 8485 (limit)(GTC)
Approximate Profit: $450 per contract
Degree of Risk: Moderate to HIGH
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June Lean Hogs LHM9
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FLAT
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5: METALS
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July Copper HGN9
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We also sold Copper to start this week. With a bit of luck the market will fall off enough on Tuesday to find our profit target.
CONTINUATION of Short July Copper at 208.65 (May 11)
Exit Stop: 221.45 (stop)(GTC)
Aproximate Risk: $3200 per contract
Profit Target: 201.35 (limit)(GTC)
Approximate Profit: $1825 per contract
Degree of Risk: Moderate
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June mini-Gold YGCZM9
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FLAT
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May mini-Silver YIK9
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FLAT
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6: SOFTS
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July Cocoa CCN9
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Can you believe Cocoa didn't hit our profit target? Leaving everything "as is" for Tuesday.
CONTINUATION of Long July Cocoa at 2423 (May 7)
Exit Stop: 2331 (stop)(GTC)
Approximate Risk: $920 per contract
Profit Target: 2523 (limit)(GTC)
Approximate Profit: $1000 per contract
Degree of Risk: Moderate to HIGH
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July Coffee KCN9
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FLAT
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July Cotton CTN9
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FLAT
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July OJ OJN9
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FLAT
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July Sugar SBN9
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FLAT
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Commodity Pick Report is a publication of Traders Helping Traders.net
http://www.tradershelpingtraders.net
erich@tradershelpingtraders.net
Copyright (c) 2003 - 2008 Traders Helping Traders.net.
10 - 6078 Truesdale Street, Duncan, British Columbia, V9L 0B4
(250)748-9242 (Pacific Time Zone)
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My Lawyer Made Me Say
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Futures trading involves the substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources that Commodity Pick Report believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such.
Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Any dollar amount quoted is exclusive of commissions and fees.
CFTC Rule 4.41
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 ensure 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.
Got it?