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1: CURRENCIES
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March Japanese Yen JYH0
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That was close! The Yen came very close to tagging our exit stop, but we’re still in the trade for now. The strong close is encouraging. I’m hoping to see more gains for Friday.
Time to get the stops to breakeven.
CONTINUATION of Long 2 March Japanese Yen at 108.63 (January 11)
Exit Stop: 108.63 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 109.83 (January 12)
Approximate Profit: $1500 per contract
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2: FINANCIALS
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September Eurodollar EDU0
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I’ll run the ED trade again for Friday but right now it looks like resistance might yield.
If September Eurodollar opens at or above 99190
SELL 2 September Eurodollar at 99170 (stop)(day)
If filled: Exit Stop: 99270 (stop)(GTC)
Approximate Risk: $250 per contract
Profit Target: 99010 (limit)(GTC)
Approximate Profit: $400 per contract
Degree of Risk: Moderate to HIGH
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3: GRAINS
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January Canola RSF0
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Ditto for Canola; however in this instance it looks like support will be challenged.
BUY 2 March Canola at 3940 (stop)(limit)(day)
If filled: Exit Stop: 3830 (stop)(GTC)
Approximate Risk: $220 per contract
Profit Target: 4050 (limit)(GTC)
Approximate Profit: $$220 per contract
Degree of Risk: Moderate to HIGH
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4: MEATS
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February Live Cattle LCG0
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Cattle made nice gains on Thursday and gives us a little adjustment room on our stops.
CONTINUATION of Long 2 February Live Cattle at 8577 (January 14)
Exit Stop: 8507 (stop)(GTC)
Approximate Risk: $280 per contract
Profit Target: 8747 (limit)(GTC)
Approximate Risk: $680 per contract
Degree of Risk: Moderate to HIGH
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6: SOFTS
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March Coffee KCH0
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It’s not a good sign that resistance followed support so closely. I’m leaving my exit stop where it is, but there’s a lot of money in play so don’t be shy about protecting more.
CONTINUATION of Long March Coffee at 138.60 (January 4)
Exit Stop: 142.40 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 141.35 (January 4)
Approximate Profit: $1031 per contract
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Day Trading Support and Resistance Lines
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March mini-DOW YMH0
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Support and Resistance Lines:
10360
10415
10450
10500
10540
10560
10580
10620
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March mini-S&P ESH0
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Support and Resistance Lines:
1110.00
1117.00
1125.00
1127.50
1131.00
1138.00
1142.00
1148.00
